MDU Earnings -- 2Q16; Construction Materials Sets Record Quarterly Earnings; Leads MDU Earnings; With Discontinued Ops, Co Loses 56 Cents/Share

From SeekingAlpha:

• MDU Resources: Q2 EPS of $0.24 beats by $0.03. 
• Revenue of $1.04B (+10.9% Y/Y) misses by $30M.

Press release:

• Construction materials has record second quarter earnings of $33.7 million, up 67 percent driven by higher margins and 9 percent revenue growth due to higher product volumes and construction workloads. 
• Construction services backlog up 18 percent to $508 million.
• Pipeline and midstream segment earnings increase with 139 percent rise in natural gas storage volumes.
• Electric utility earnings up 36 percent, driven by regulatory rate relief; natural gas distribution earnings impacted by unfavorable weather.
• Completed the exit of E&P business and sold interest in the refining business.

Second quarter earnings from continuing operations of $46.1 million, or 24 cents per common share, compared to earnings from continuing operations of $25.8 million, or 13 cents per common share for the second quarter of 2015. Including discontinued operations, the exploration and production and refining businesses, the company reported a loss of $109.3 million, or 56 cents per common share for second quarter 2016, compared to a loss of $229.8 million, or $1.18 per share for second quarter 2015.

Forecast was for 21 cents/share earnings.