Filing Flows › MDU Resources Group (MDU) › Q1 2026
MDU Resources Group (MDU) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
MDU Resources Group (MDU) reported revenue of $606M for the first quarter 2026 (Q1 2026), -10% from a year earlier and +13% from the quarter before. Operating margin was 19.1%, net earnings $80.8M (13.3% of revenue).
MDU Resources Group, Q1 2026: revenue $606M (-10% year over year), operating margin 19.1%, net earnings $80.8M, operating cash flow $149M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $606M | +13% | -10% |
| Operating profit | $116M | +8% | +3% |
| Net earnings | $80.8M | +6% | -1% |
| Operating cash flow | $149M | +85% | -31% |
| Free cash flow | $56.8M | — | -54% |
What changed
Revenue was $606.0M in Q1 2026, down 10% year over year and up 13% from the previous quarter.
Operating profit was $115.7M, a 19.1% margin (up 2.4 points year over year). Total costs fell 13% while revenue fell 10%. Net earnings were $80.8M, down 1% year over year. The effective tax rate was 5.5%.
Operating cash flow was $149.2M (down 31% year over year), 185% of net earnings. Non-cash charges added back $54.2M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $12.3M. Capital expenditures of $92.4M left free cash flow of $56.8M.
Questions
What was MDU Resources Group's revenue in the first quarter 2026?
MDU Resources Group (MDU) reported revenue of $606M for the first quarter 2026 (Q1 2026), -10% from a year earlier and +13% from the quarter before.
Was MDU Resources Group profitable in the first quarter 2026?
Operating profit was $116M (19.1% of revenue) and net earnings $80.8M.