MDU Resources completes spin-off of Everus; pro forma EPS drops to $0.48 from $0.79

MDU RESOURCES GROUP INC

Spin-off completed Oct 31, 2024; shareholders received 1 share of Everus (ECG) for every 4 shares of MDU.
Pro forma six-month 2024 income from continuing ops $98.2M ($0.48 EPS) vs as-reported $161.5M ($0.79).
Pro forma FY2023 income from continuing ops $337.6M ($1.66 EPS) vs as-reported $480.4M ($2.36).
MDU received $290M cash from Everus; used $190M to retire debt; expects $47.8M in separation costs.
Post-separation, MDU is a pure-play regulated utility and pipeline company.

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