12 on list of top 600 specialty contractors. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. Address: 1200 W Century Ave Bismarck, ND, 58503-0911 United States See other locations Phone: Website: www.mdu.com Employees (this site): Actual Employees (all sites): Actual Revenue: $5.68 billion Actual Sales Growth: 2.67% Net Income Growth: -3.09% Assets: $8,910 Fiscal Year End: DEC Year Started: Stock Exchange: NYSE:MDU ESG ranking: The separation will result in two independent, publicly traded and well capitalized companies, which the MDU Resources board believes will leave each positioned well for durable growth and shareholder value creation. Non-GAAP financial measures are not standardized; therefore, it may not be possible to compare such financial measures with other companies non-GAAP financial measures having the same or similar names. The companys management uses the non-GAAP financial measures in conjunction with GAAP results when evaluating the companys operating results internally and calculating compensation packages. Necessary cookies are absolutely essential for the website to function properly. Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. The cookies is used to store the user consent for the cookies in the category "Necessary". MDU Construction Services Group is comprised of 16 local operating companies employing more than 8,500 skilled workers during peak season and has been ranked the fourth largest U.S. electrical contractor. Communities Served North Dakota South Dakota Montana Wyoming [12] Knife River Corporation provides construction materials and contracting services, including aggregate, asphalt, building materials, cement, construction services, liquid asphalt, and ready-mix concrete in 17 states. But opting out of some of these cookies may affect your browsing experience. When typing in this field, a list of search results will appear and be automatically updated as you type. Company Mdu Resources Group Inc. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. MDU Construction Services Group, Inc. is an industry-leading specialty contractor, We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage. Second Quarter 2022 Financial Results MDU Resources Group, Inc. engages in regulated energy delivery, and construction materials and services businesses in the United States. This cookie is set by GDPR Cookie Consent plugin. These factors include, but are not limited to, risks relating to the impact of the COVID-19 pandemic on the business (including impacts on employees and contractors and disruptions to operations and the supply chain); new or changing laws and regulations impacting the business (including changes in pipeline safety regulations and environmental law); supply chain disruptions (including price fluctuations and supply of materials necessary for operations); the adverse impact of cyberattacks on operations; competitive factors including technological advances and customer demands; pricing and market pressures; ability to successfully integrate any businesses acquired; issuance of new or revised accounting standards; risks associated with the impact, timing or terms of the spinoff; risks associated with the expected benefits and costs of the spinoff, including the risk that the expected benefits of the spinoff will not be realized within the expected timeframe, in full or at all, and the risk that conditions to the spinoff will not be satisfied and/or that the spinoff will not be completed within the expected timeframe, on the expected terms or at all; the expected qualification of the spinoff as a tax-free transaction for U.S. federal income tax purposes, including whether or not an IRS ruling will be sought or obtained; the risk that any consents or approvals required in connection with the spinoff will not be received or obtained within the expected timeframe, on the expected terms or at all; risks associated with expected financing transactions undertaken in connection with the spinoff and risks associated with indebtedness incurred in connection with the spinoff; the risk that dis-synergy costs, costs of restructuring transactions and other costs incurred in connection with the spinoff will exceed estimates; and the impact of the spinoff on the businesses and the risk that the spinoff may be more difficult, time consuming or costly than expected, including the impact on resources, systems, procedures and controls, diversion of managements attention and the impact on relationships with customers, suppliers, employees and other business counterparties, as well as the various important factors listed in Part I, Item 1A Risk Factors in MDU Resources Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021, which was filed with the SEC on Feb. 23, 2022, and subsequent filings with the SEC. Pay at MDU Resources is significantly lower than some of its highest paying competitors, like. None of the information on this page has been provided or approved by MDU Resources. The companys utilities provide affordable and reliable electric and natural gas service to 1.2 million customers across eight states. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. 02/24/2023. Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. To protect our site, we cannot process your request right now. All forward-looking statements in this news release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. MDU Resources Group engages in the regulated energy delivery, construction materials and services businesses. Claiming and updating your company profile on Zippia is free and easy. Click Here. Western National Group. This category only includes cookies that ensures basic functionalities and security features of the website. For more information, visitwww.kniferiver.com. We build complex, diverse projects for our customers and were always looking for team members to contribute to our success. When will Knife River shares be distributed? We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, MDU Resources Board of Directors Names Leadership for Knife River Upon Separation, MDU Resources Declares Quarterly Dividend on Common Stock. The company's principal address . If you experience any issues with this process, please contact us for further assistance. These cookies do not store any personal information. MDU Resources and Knife Rivers proven management teams will be able to more directly focus resources and capital to achieve their respective strategic goals, Goodin said. By continuing to use this application, you consent to the use of cookies in accordance with our. 67% of the management team is White. None of the information on this page has been provided or approved by MDU Resources. [8] Ten lawsuits were filed against Loy Clark in November 2018 and two of which were by insurers who had paid out claims. company profile page along with the rest of the general data. The firm's holdings initially consisted of the electric utility at Cushing, Oklahoma (later sold off to Oklahoma Gas & Electric), Minnesota Electric Light & Power Company, which served the Bemidji, Minnesota area (sold in 1925 to the W.B. We work underground and overhead in the transmission and distribution industry. MDU Resources is headquartered in Bismarck, ND and has 69 office locations located throughout the US. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. The separation will result in two independent, publicly traded and well-capitalized companies, which the MDU Resources board believes will leave each positioned well for durable growth and shareholder value creation. Although MDU Resources believes that its expectations are based on reasonable assumptions, current expectations involve a number of risks and uncertainties. What will happen to my outstanding stock? MDU Resources generates $5.7B in revenue. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Optimized capital structures: Each company will benefit from distinct capital structures and financial policies tailored to their separate business profiles and needs. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. What is the strategic rationale for spinning off Knife River? Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. These forward-looking statements, including key growth strategies, projections, certain assumptions and strategies of MDU Resources and the independent companies following the proposed spinoff, the anticipated benefits of the spinoff, and the expected timing of completion of the spinoff, are only predictions and involve known and unknown risks and uncertainties, many of which are beyond MDU Resources control, and could cause actual results to differ materially from those indicated in such forward-looking statements. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. 79 were here. Below youll find a list of the types of career opportunities you can find at Knife River. These efforts demonstrate our progress and commitment to move toward our goal of creating two pure-play public companies, with one focused on regulated energy delivery and the other on construction materials.". Despite its diversity in other areas, MDU Resources employees are noticeably lacking in political diversity. Our construction services bring power to communities and neighborhoods across the country. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 The Pipeline and Midstream segment provides natural gas transportation, underground storage, and gathering services primarily in the Rocky Mountain and northern Great Plains regions. We believe the spinoff will create many compelling benefits, including: With a successful track record of organic and M&A-driven growth, we have built Knife River into a leading aggregates-based construction materials business. Knife River produces and delivers aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, asphalt and other value-added products. This is a growing company where the executive leadership really focuses on a work/life balance. This cookie is set by GDPR Cookie Consent plugin. Using a database of 30 million profiles, Zippia estimates demographics and statistics for MDU Resources. The PUC faulted Loy Clark and listed the cause of the accident as Loy Clark's failure to give sufficient notifications to regulators about excavation plans. The data presented on this page does not represent the view of MDU Resources and its employees or that of Zippia. mdu resources group inc. mdu resources group. Establishes Knife River as a stand-alone, aggregates-based, vertically integrated construction materials and contracting provider. Terry Hildestad donated At MDU Resources, we promise to treat your data with respect and will not share your information with any third party. See if MDU Resources is hiring near you. Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. The board and our management team are confident that MDU Resources and Knife River will be best positioned as two focused, independent companies. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. Statement of Changes in Beneficial Ownership. It is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and also receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free. Following the planned separation, MDU Resources will remain headquartered in Bismarck, North Dakota, and continue to be the parent company for MDU Resources existing regulated electric and natural gas utilities (Cascade Natural Gas Corp., Intermountain Gas Co., Montana-Dakota Utilities Co.), natural gas pipeline business (WBI Energy, Inc.) and construction services company (MDU Construction Services Group, Inc.).

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