MDU Resources Group Inc. (NYSE:MDU) Q4 2015 Earnings Conference Call - Final Transcript
Feb 04, 2016 • 10:00 am ET
Good morning. My name is Brent, and I'll be your conference facilitator. At this time, I would like to welcome everyone to the MDU Resources Group 2015 Year-End Results and 2016 Guidance Conference Call. [Operator Instructions]. This call will be available for replay beginning at 1:00 p.m Eastern Time today through 11:59 PM Eastern Time on February 18.
The conference ID number for the replay is 9233329. Again, the conference ID number for the replay is 9233329. The number to dial for the replay is 855-859-2056 or 404-537-3406.
I would now like to turn the conference over to Doran Schwartz, Vice President and Chief Financial Officer of MDU Resources Group. Thank you. Mr. Schwartz, you may begin your conference.
Doran N. Schwartz
Thank you. Good morning, everybody. Welcome to our earnings release conference call. This conference call is being broadcast live to the public over the internet, and slides will accompany our remarks. If you'd like to view those slides, please go to our website at www.MDU.com and follow the link to the conference call. Our earnings release is also available on our website.
During the course of this presentation, we will make certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the Company believes that its expectations and beliefs are based on reasonable assumptions, actual results may differ materially. For a discussion of factors that may cause actual results to differ, refer to item 1A, risk factors, in our most recent Form 10-K and Form 10-Q and the risk factors section in our most recent Form 8-K.
Our format today will include formal remarks from Dave Goodin, President and CEO of MDU Resources, followed by a Q&A session. Other members of our management team who will be available to answer questions during the Q&A session of the conference call today are: Dave Barney, President and CEO of Knife River Corporation; Nicole Kivisto, President and CEO of Montana-Dakota, Great Plains Natural Gas, Cascade Natural Gas, and Intermountain Gas; Martin Fritz, President and CEO of WBI Energy; Jeff Thiede, President and CEO of MDU Construction Services Group; and Nathan Ring, Vice President, Controller, and Chief Accounting Officer for MDU Resources.
And with that, I'll turn the presentation over to Dave for his formal remarks. Dave?
David L. Goodin
Thank you, Doran, and good morning. We appreciate you joining us today to discuss our 2015 year-end results, as well as guidance for this year.
Our businesses had some notable successes last year, including record earnings at our construction materials business. Our Utility group executed well on a record capital budget and continued to experience good customer growth. Our Pipeline group had record throughput for the third consecutive year. And we made good progress on the sale of Fidelity's assets. And each of our businesses is carrying good momentum into 2016.
However, I am not satisfied with our overall earnings performance in 2015. Consolidated adjusted earnings for the year totaled $180 million or $0.92 per share, compared with $205.5 million or $1.07