MDU Resources Affirms FY24 Earnings Guidance For Its Regulated Energy Delivery Businesses Of $170M - $180M
Portfolio Pulse from Benzinga Newsdesk
MDU Resources has reaffirmed its FY24 earnings guidance for its regulated energy delivery businesses at $170M - $180M. The company has updated its construction services revenue guidance to $2.65 billion - $2.85 billion, down from the previous range of $2.9 billion - $3.1 billion, but expects higher margins than in 2023. EBITDA is still expected to be $220 million - $240 million.
August 08, 2024 | 12:34 pm
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MDU Resources has reaffirmed its FY24 earnings guidance for its regulated energy delivery businesses at $170M - $180M. The company has updated its construction services revenue guidance to $2.65 billion - $2.85 billion, down from the previous range of $2.9 billion - $3.1 billion, but expects higher margins than in 2023. EBITDA is still expected to be $220 million - $240 million.
The reaffirmation of earnings guidance for the regulated energy delivery business is positive, but the lowered revenue guidance for construction services is a negative. However, the expectation of higher margins and stable EBITDA balances the impact, resulting in a neutral short-term outlook.
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