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MDU Resources Cuts FY Profit Guidance

Shares of MDU Resources (MDU) slipped 3% in extended trading session on Wednesday after the company lowered its full-year earnings outlook as the company's third-quarter results missed Street estimates.

The company now expects full year earnings of $1.90 to $2.05 per share. Previously, the company expected earnings of $2.00 to $2.15 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $2.13 per share.

"Third quarter construction results this year were impacted by higher asphalt oil and fuel costs, timing of available work, labor constraints, weather-related effects in some areas, and adjustments to estimates on a construction services contract. With our results through the third quarter, we are adjusting our revenue and margin guidance for the year as well as our earnings per share guidance," said CEO David L. Goodin.

MDU closed Wednesday's trading at $31.09, up $0.21 or 0.68%, on the NYSE. The stock, however, slipped $0.94 or 3.02% in the after-hours trading.

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