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The beat-and-raise dynamic (beat on profitability, reaffirmed full-year guidance) plus a clear, near-term growth catalyst (Bakken East pipeline progress and binding commitments) typically attracts multiple expansion for a utility/pipeline name like MDU. The FERC process timing and capex cadence provide a framework for upside into late 2026 and 2027.
What happened, with direct paths to the underlying reporting
MDU Resources posted solid Q2 2026 results, with net income of $21.3 million and diluted EPS of $0.10, up meaningfully year over year. The company reaffirmed 2026 EPS guidance of $0.93–$1.00 and highlighted progress on the Bakken East Pipeline, including binding commitments for about 1.2 Bcf/d and potential expansion to 1.4 Bcf/d, with a final investment decision anticipated after a Q4 2026 FERC filing. This supports upside from regulated utility growth and long-term pipeline value.
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