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MDU Resources raises 2019 earnings guidance

MDU Resources Group Inc. on Dec. 9 raised its 2019 earnings guidance to a range of $1.60 per share to $1.65 per share, from the previous range of $1.50 per share to $1.60 per share.

"With the strength of our results in October and November and our current estimates for December, we are confident our 2019 results will surpass the guidance range previously disclosed," said MDU Resources President and CEO David Goodin.

He said MDU Resources experienced favorable construction weather during the fourth quarter in its northern states of operation, which allowed it to work on its backlog.

"We like our momentum going into 2020. Our backlog of work remains strong and we have long-term growth potential through our substantial planned capital investments on quality projects over the next five years," Goodin added.

MDU Resources expects to initiate 2020 guidance in February.