Filing Flows › MDU Resources Group (MDU) › Q3 2025
MDU Resources Group (MDU) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
MDU Resources Group (MDU) reported revenue of $315M for the third quarter 2025 (Q3 2025), +9% from a year earlier and -10% from the quarter before. Operating margin was 12.6%, net earnings $18.3M (5.8% of revenue).
MDU Resources Group, Q3 2025: revenue $315M (+9% year over year), operating margin 12.6%, net earnings $18.3M, operating cash flow $57.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $315M | -10% | +9% |
| Operating profit | $39.8M | +31% | +14% |
| Net earnings | $18.3M | +33% | -72% |
| Operating cash flow | $57.9M | -51% | -59% |
What changed
Revenue was $315.0M in Q3 2025, up 9% year over year and down 10% from the previous quarter.
Operating profit was $39.8M, a 12.6% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 12% margin then. Total costs grew 8% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $18.3M, down 72% year over year. The effective tax rate was 11.4%.
Operating cash flow was $57.9M (down 59% year over year), 316% of net earnings. Non-cash charges added back $52.0M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $14.1M. Capital expenditures of $179.8M exceeded it, leaving free cash flow of −$121.9M.
Questions
What was MDU Resources Group's revenue in the third quarter 2025?
MDU Resources Group (MDU) reported revenue of $315M for the third quarter 2025 (Q3 2025), +9% from a year earlier and -10% from the quarter before.
Was MDU Resources Group profitable in the third quarter 2025?
Operating profit was $39.8M (12.6% of revenue) and net earnings $18.3M.