First Quarter Earnings Conference Call Mayy 2011 Building A Strong America Doran N. Schwartz Vice President & Chief Financial Officer 1
Steve Bietz President & CEO of WBI Holdings Company p y Dave Goodin Management President & CEO of Montana-Dakota Utilities, Great Plains Natural Gas, Cascade Natural Gas & Intermountain Gas Bill Schneider President & CEO of Knife…
Building A Strong America Terry D. Hildestad President and CEO 4
First Quarter Consolidated Results (Milli (Millions)) 41.6 42.8 2010 2011 Diversified 2010 2011 earnings mix EPS .22 .23 MDU Resources Group, Inc. Building A Strong America 5
NATURAL GAS & OIL 18% lower average realized natural PRODUCTION gas prices FIRST QUARTER EARNINGS (Millions) Higher depreciation, depletion and amortization expense and lease operating costs 22.2 4% lower natural gas production…
Outlook Natural Gas & Oil Production Investing in exciting exploratory plays to create more oil exposure Bakken 66,000 net acres Added second drilling rig in late April Drill 18 wells investing approx. 90 million for operated and…
PIPELINE & ENERGY SERVICES Lower gathering and transportation FIRST QUARTER EARNINGS volumes (Millions) Total customer storage balances ddeclined li d 24% ffrom llastt year Lower margin from energy-related services 8.8 6.9 2010…
Outlook Pipeline & Energy Services Bakken Opportunities Adding 12 miles of high pressure transmission pipeline for processed natural gas in northwestern North Dakota Construction to begin late this summer Pursuing expansion of…
ELECTRIC & NATURAL GAS UTILITY 15% increase in natural gas sales volumes FIRST QUARTER EARNINGS (Millions) Higher electric retail sales margins Lower income taxes 36.0 6% higher electric retail sales 29.2 volumes Partially offset…
Outlook Electric & Natural Gas Utilities Rate base growth Pl Plan tto iinvestt over 150 million illi per year over nextt 5 years Evaluating options to replace purchased power with owned generation Pursuing opportunities…
CONSTRUCTION MATERIALS & CONTRACTING Poor weather added to normal FIRST QUARTER EARNINGS seasonal loss (Millions) constr ction margins Decreased construction Lower ready-mixed concrete and aggregate volumes and margins Partially…
Outlook Construction Materials & Contracting March 31 backlog 569 million - Includes two large harbor expansion projects Hawaii Light Rail project - Expect to provide cement - Opportunity to supply ready-mixed concrete and…
CONSTRUCTION SERVICES FIRST QUARTER EARNINGS Higher construction workloads and margins (Millions) - Largely in the Western region Increased equipment and electrical supply sales 4 6 4.6 0.1 2010 2011 MDU Resources…
Outlook Construction Services SG&A expenses down 30% for the trailing 12-months ended March 31, 31 compared to 2008 annual expenses expenses, the peak earnings year March 31 backlog at 347 million - Includes variety of quality…
Earnings per Share 2011 EPS by Quarter: 2nd Quarter: 20% Guidance 3rdd Quarter: Q t 35% 1.05 1.05 4th Quarter: 25% to 1.30 Note: As of May 2, 2011 MDU Resources Group, Inc. Building A Strong America 16
Total Annualized Shareholder Returns At March 31, 2011 YeartoDate Returns 1 Year 10% 3 Year 1% 14% 11% 5 Year 5 Year 3% 9% 10 Year 7% 6% 20 Year 13% 0% 5% 10% 15% MDU S&P 500 S&P 400 Peers Resources Group, Inc.…
Cap Ex Growth Increase Cap Ex 27% 3 5B 3.5B in the next 5 years 2.7B 20062010 20112015 Regulated E&P Construction * Excludes acquisitions. MDU Resources Group, Inc. Building A Strong America 18
Indicated Annualized Consecutive quarterly dividend Dividend payments for 5-YEAR CAGR 5% 73 years 0.65 0.54 2006 2007 2008 2009 2010 Dividend increased November 2010, marking 20 consecutive years of increases Committed to…
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