MDU Resources Group Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________Commission file number 1-03480 MDU RESOURCES GROUP, INC. (Exact name of registrant as specified in its charter) Delaware30-1133956(State or other jurisdiction ofincorporation ororganization)(I.R.S. Employer Identification No.) 1200 West Century AvenueP.O. Box 5650Bismarck, North Dakota 58506-5650(Address of principal executive offices)(Zip Code)(701) 530-1000(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading symbol(s)Name of each exchange on which registeredCommon Stock, par value $1.00 per shareMDUNew York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90days. Yes☒No☐. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrantwas required to submit such files). Yes☒No☐. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reportingcompany," and "emerging growth company" in Rule12b-2 of the Exchange Act. Large Accelerated Filer☒Non-Accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒. Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of April30, 2026: 209,006,024 shares. Index PageDefinitions3Introduction5Part I -- Financial InformationItem 1. Financial Statements6Consolidated Statements of Income --Three Months Ended March31, 2026 and 20256Consolidated Statements of Comprehensive Income --Three Months Ended March31, 2026 and 20257Consolidated Balance Sheets --March31, 2026 and 2025, and December31, 20258Consolidated Statements of Equity --Three Months Ended March31, 2026 and 20259Consolidated Statements of Cash Flows --Three Months Ended March31, 2026 and 202510Condensed Notes to Consolidated Financial Statements111. Basis of presentation112. New accounting standards123. Discontinued operations124. Seasonality of operations135. Receivables and allowance for expected credit losses136. Inventories and natural gas in storage137. Earnings per share148.Equity149. Revenue from contracts with customers1510. Regulatory matters1611. Environmental allowances and obligations1912. Fair value measurements1913. Debt2114. Business segment data2315. Employee benefit plans2516. Commitments and contingencies26Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations28Item 3. Quantitative and Qualitative Disclosures About Market Risk43Item 4. Controls and Procedures43Part II -- Other InformationItem 1. Legal Proceedings44Item 1A. Risk Factors44Item 2. Unregistered Sales of Equity Securities and Use of Proceeds44Item 4. Mine Safety Disclosures44Item 5. Other Information44Item 6. Exhibits44Exhibits Index45Signatures46 Definitions The following abbreviations and acronyms used in this Form10-Q are defined below: Abbreviation or Acronym MDU Resources Group, Inc. Coronavirus disease 2019 kWhkVMDU Energy CapitalMDUR Newco Montana Public Service Commission Megawatt VIEWBI EnergyWBI Energy Transmission Introduction Montana-Dakota was incorporated under the state laws of Delaware in 1924. The Company was incorporated under the state laws ofDelaware in 2018. Upon the completion of the Holding Company Reorganization, Montana-Dakota became a subsidiary of theCompany. Its principal executive offices are located at 1200 West Century Avenue, P.O. Box5650, Bismarck, North Dakota 58506-5650, telephone (701)530-1000. Through a strategy focusing on its "CORE," the Company strives to deliver superior value and achieve industry-leading performance asa pure-play regulated energy delivery company, while pursuing organic growth opportunities. The Company's "CORE" strategyprioritizes customers and communities, operational exce