Knife River books nearly $42M gain from Tax Cuts & Jobs Act

Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff

A Tax Cuts & Jobs Act-prompted reevaluation of 2017 net deferred tax liabilities across MDU Resources produced a $41.9 million addition to fourth quarter figures for the Knife River Corp. construction materials business unit. Federal tax reform passed late last year lowers the corporate tax rate from 39 percent to 21 percent. The deferred tax liabilities gain positioned Knife River to contribute $123.4 million of MDU Resources’ $284.2 million in 2017 earnings, against respective prior year figures of $102.7 million and $232.4 million.

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Major operators affirm strong deliveries in peak season

Fall 2013 saw the release of one set of positive quarterly financials after another from New York Stock Exchange-traded companies with integrated U.S. concrete, aggregate, cement and asphalt businesses. Uniformly upbeat sales, EBITDA (earnings before interest, taxes, depreciation and amortization) and net earnings reports encompass the peak 2013 construction season; MDU Resources Group summing up conditions likely shared with peers: “The [Knife River] construction materials group had its best quarter since 2007.”

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