MDU Resources Group (MDU) Revenue & Revenue Breakdown

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MDU Resources Group Revenue Highlights

Latest Revenue (Y)

$1.88B

Latest Revenue (Q)

$606.00M

Main Segment (Y)

Natural Gas Transportation

MDU Resources Group Revenue by Period

MDU Resources Group Revenue by Year

Date	Revenue	Change
2025-12-31	$1.88B	6.66%
2024-12-31	$1.76B	-2.52%
2023-12-31	$1.80B	3.21%
2022-12-31	$1.75B	-49.42%
2021-12-31	$3.45B	-37.56%
2020-12-31	$5.53B	3.67%
2019-12-31	$5.34B	17.77%
2018-12-31	$4.53B	1.98%
2017-12-31	$4.44B	7.62%
2016-12-31	$4.13B	-1.50%
2015-12-31	$4.19B	-10.26%
2014-12-31	$4.67B	4.67%
2013-12-31	$4.46B	9.50%
2012-12-31	$4.08B	0.61%
2011-12-31	$4.05B	3.60%
2010-12-31	$3.91B	-6.39%
2009-12-31	$4.18B	-16.52%
2008-12-31	$5.00B	17.78%
2007-12-31	$4.25B	4.35%
2006-12-31	$4.07B	17.81%
2005-12-31	$3.46B	27.07%
2004-12-31	$2.72B	15.61%
2003-12-31	$2.35B	15.78%
2002-12-31	$2.03B	-8.64%
2001-12-31	$2.22B	18.68%
2000-12-31	$1.87B	46.40%
1999-12-31	$1.28B	42.72%
1998-12-31	$896.70M	47.56%
1997-12-31	$607.70M	18.07%
1996-12-31	$514.70M	10.86%
1995-12-31	$464.30M	3.27%
1994-12-31	$449.60M	2.27%
1993-12-31	$439.60M	-

MDU Resources Group generated $1.88B in revenue during NA 2025, up 6.66% compared to the previous quarter, and up 33.89% compared to the same period a year ago.

MDU Resources Group Revenue by Quarter

Date	Revenue	Change
2026-03-31	$606.00M	13.48%
2025-12-31	$534.00M	69.47%
2025-09-30	$315.10M	-10.28%
2025-06-30	$351.19M	-47.96%
2025-03-31	$674.83M	26.01%
2024-12-31	$535.54M	84.86%
2024-09-30	$289.69M	-15.90%
2024-06-30	$344.47M	-41.44%
2024-03-31	$588.27M	-48.18%
2023-12-31	$1.14B	13.44%
2023-09-30	$1.00B	-8.28%
2023-06-30	$1.09B	-23.70%
2023-03-31	$1.43B	-23.08%
2022-12-31	$1.86B	85.46%
2022-09-30	$1.00B	-0.72%
2022-06-30	$1.01B	-28.72%
2022-03-31	$1.42B	-1.84%
2021-12-31	$1.44B	-9.01%
2021-09-30	$1.59B	11.40%
2021-06-30	$1.42B	15.94%
2021-03-31	$1.23B	-11.35%
2020-12-31	$1.39B	-12.73%
2020-09-30	$1.59B	16.46%
2020-06-30	$1.36B	13.83%
2020-03-31	$1.20B	-13.12%
2019-12-31	$1.38B	-11.87%
2019-09-30	$1.56B	19.96%
2019-06-30	$1.30B	19.46%
2019-03-31	$1.09B	-9.81%
2018-12-31	$1.21B	-5.54%
2018-09-30	$1.28B	20.31%
2018-06-30	$1.06B	9.04%
2018-03-31	$976.30M	-16.21%
2017-12-31	$1.17B	-8.43%
2017-09-30	$1.27B	19.19%
2017-06-30	$1.07B	13.83%
2017-03-31	$937.90M	-7.70%
2016-12-31	$1.02B	-15.93%
2016-09-30	$1.21B	15.78%
2016-06-30	$1.04B	15.32%
2016-03-31	$905.20M	-14.80%
2015-12-31	$1.06B	-17.03%
2015-09-30	$1.28B	29.84%
2015-06-30	$986.22M	7.37%
2015-03-31	$918.51M	-21.04%
2014-12-31	$1.16B	-15.12%
2014-09-30	$1.37B	25.26%
2014-06-30	$1.09B	4.91%
2014-03-31	$1.04B	-11.95%
2013-12-31	$1.18B	-7.88%
2013-09-30	$1.29B	21.23%
2013-06-30	$1.06B	13.85%
2013-03-31	$931.60M	-13.83%
2012-12-31	$1.08B	-7.87%
2012-09-30	$1.17B	21.24%
2012-06-30	$967.96M	13.50%
2012-03-31	$852.81M	-19.98%
2011-12-31	$1.07B	-7.50%
2011-09-30	$1.15B	23.79%
2011-06-30	$930.76M	3.21%
2011-03-31	$901.80M	-13.50%
2010-12-31	$1.04B	-7.40%
2010-09-30	$1.13B	24.21%
2010-06-30	$906.44M	8.59%
2010-03-31	$834.78M	-17.88%
2009-12-31	$1.02B	-8.25%
2009-09-30	$1.11B	15.65%
2009-06-30	$958.04M	-12.43%
2009-03-31	$1.09B	-15.57%
2008-12-31	$1.30B	-2.85%
2008-09-30	$1.33B	6.56%
2008-06-30	$1.25B	11.58%
2008-03-31	$1.12B	-8.99%
2007-12-31	$1.23B	-

MDU Resources Group generated $606.00M in revenue during Q1 2026, up 13.48% compared to the previous quarter, and up 113.16% compared to the same period a year ago.

MDU Resources Group Revenue Breakdown

MDU Resources Group Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Natural Gas Transportation	$258.52M	$235.27M	$197.76M	-	-
Natural Gas, Storage	$23.27M	$23.69M	$18.25M	-	-
Other Revenues	$151.96M	$113.33M	$91.64M	-	-
Construction materials and contracting	-	-	-	$2.53B	$2.23B
Pipeline and Midstream	-	-	-	$96.57M	$82.86M
Natural gas distribution	-	-	-	$1.27B	$971.36M
Electric	-	-	-	$376.58M	$349.04M
Construction services	-	-	-	$2.69B	$2.05B
Corporate and Other	-	-	-	-	$84.00K

MDU Resources Group's latest annual revenue breakdown by segment (product or service), as of Dec 25: Natural Gas Transportation (59.60%), Other Revenues (35.03%), and Natural Gas, Storage (5.36%).

Quarterly Revenue by Product

Product/Service	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21
Other Revenues	$45.52M	$43.72M	$31.72M	$33.91M	$42.61M	$59.70M	$31.06M	$22.57M	$67.54M	$24.10M	-	-	-	-	-	-	-	-	-	-
Natural Gas Transportation	$66.58M	$66.09M	$63.53M	$61.93M	$66.96M	$119.83M	$57.22M	$58.23M	$149.37M	$48.39M	-	-	-	-	-	-	-	-	-	-
Natural Gas, Storage	$5.47M	$6.39M	$5.68M	$5.17M	$6.03M	$12.26M	$6.05M	$5.38M	$13.45M	$4.81M	$4.37M	$4.07M	-	-	-	-	-	-	-	-
Revenue From Contracts With Customers	-	-	-	-	-	-	-	-	-	$991.28M	-	-	-	-	-	-	-	-	-	-
Pipeline	-	-	-	-	-	-	-	-	-	-	$34.21M	$14.33M	$36.05M	$29.81M	$11.12M	$30.97M	$27.77M	$9.91M	-	-
Construction services	-	-	-	-	-	-	-	-	-	-	$746.93M	$754.12M	$734.81M	$683.59M	$551.59M	$514.52M	$524.74M	$517.47M	-	-
Corporate and Other	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$25.00K	$28.00K	$17.00K	-	-
Electric	-	-	-	-	-	-	-	-	-	-	$90.99M	$95.60M	$99.19M	$85.46M	$93.59M	$98.93M	$83.65M	$84.67M	-	-
Natural gas distribution	-	-	-	-	-	-	-	-	-	-	$219.00M	$565.52M	$132.07M	$210.44M	$450.42M	$110.38M	$153.79M	$350.21M	-	-
Construction materials and contracting	-	-	-	-	-	-	-	-	-	-	-	$307.77M	$975.09M	$711.61M	$309.84M	$831.19M	$633.67M	$265.66M	-	-

MDU Resources Group's latest quarterly revenue breakdown by segment (product or service), as of Mar 26: Natural Gas Transportation (56.63%), Other Revenues (38.72%), and Natural Gas, Storage (4.65%).

MDU Resources Group Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
IEP	Icahn Enterprises	$9.19B	$2.31B
SKYW	SkyWest	$4.06B	$1.01B
ECG	Everus Construction Group	$3.75B	$986.82M
GFF	Griffon	$2.52B	$421.86M
WSC	WillScot	$2.28B	$548.63M
FELE	Franklin Electric	$2.13B	$500.44M
MDU	MDU Resources Group	$1.88B	$606.00M
MWA	Mueller Water Products	$1.43B	$318.20M
AGX	Argan	$944.61M	$251.15M
ATMU	Atmus Filtration	-	$477.50M

MDU Revenue FAQ

What is MDU Resources Group’s yearly revenue?

MDU Resources Group's yearly revenue for 2025 was $1.88B, representing an increase of 6.66% compared to 2024. The company's yearly revenue for 2024 was $1.76B, representing a decrease of -2.52% compared to 2023. MDU's yearly revenue for 2023 was $1.8B, representing an increase of 3.21% compared to 2022.

What is MDU Resources Group’s quarterly revenue?

MDU Resources Group's quarterly revenue for Q1 2026 was $606M, a 13.48% increase from the previous quarter (Q4 2025), and a -10.20% decrease year-over-year (Q1 2025). The company's quarterly revenue for Q4 2025 was $534M, a 69.47% increase from the previous quarter (Q3 2025), and a -0.29% decrease year-over-year (Q4 2024). MDU's quarterly revenue for Q3 2025 was $315.1M, a -10.28% decrease from the previous quarter (Q2 2025), and a 8.77% increase year-over-year (Q3 2024).

What is MDU Resources Group’s revenue growth rate?

MDU Resources Group's revenue growth rate for the last 3 years (2023-2025) was 3.98%, and for the last 5 years (2021-2025) was -45.72%.

What are MDU Resources Group’s revenue streams?

MDU Resources Group's revenue streams in c 25 are Natural Gas Transportation, Natural Gas, Storage, and Other Revenues. Natural Gas Transportation generated $258.52M in revenue, accounting 59.60% of the company's total revenue, up 9.88% year-over-year. Natural Gas, Storage generated $23.27M in revenue, accounting 5.36% of the company's total revenue, down -1.77% year-over-year. Other Revenues generated $151.96M in revenue, accounting 35.03% of the company's total revenue, up 34.09% year-over-year.

What is MDU Resources Group’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of MDU Resources Group was Natural Gas Transportation. This segment made a revenue of $258.52M, representing 59.60% of the company's total revenue.