MDU MDU Resources Group, Inc.

Risks

• The Company is subject to government regulations that may have a negative impact on its business and its results of operations and cash flows. Statutory and regulatory requirements also may limit another party's ability to acquire the Company or impose conditions on an acquisition of or by the Company.
• Economic volatility affects the Company's operations, as well as the demand for its products and services.
• The Company's operations involve risks that may result from catastrophic events.
• The Company is subject to capital market and interest rate risks.
• Financial market changes could impact the Company’s pension and postretirement benefit plans and obligations.
• Significant changes in energy prices could negatively affect the Company's businesses.
• Reductions in the Company's credit ratings could increase financing costs.
• Increasing costs associated with health care plans may adversely affect the Company's results of operations.
• Changes in tax law may negatively affect the Company's business.
• The Company's operations could be negatively impacted by import tariffs and/or other government mandates.
• Significant portions of the Company’s natural gas pipelines and power generation and transmission facilities are aging. The aging infrastructure may require significant additional maintenance or replacement that could adversely affect the Company’s results of operations.
• The Company's utility and pipeline operations are subject to planning risks.
• The regulatory approval, permitting, construction, startup and/or operation of pipelines, power generation and transmission facilities, and aggregate reserves may involve unanticipated events, delays and unrecoverable costs.
• The backlogs at the Company's construction materials and contracting and construction services businesses may not accurately represent future revenue.
• The Company's operations could be adversely impacted by climate change.
• The Company's operations are subject to environmental laws and regulations that may increase costs of operations, impact or limit business plans, or expose the Company to environmental liabilities.
• Initiatives related to global climate change and to reduce GHG emissions could adversely impact the Company's operation, costs of or access to capital and impact or limit business plans.
• The Company's various businesses are seasonal and subject to weather conditions that can adversely affect the Company's operations, revenues and cash flows.
• Competition exists in all of the Company's businesses.
• The Company's operations may be negatively affected if it is unable to obtain, develop and retain key personnel and skilled labor forces.
• The Company's construction materials and contracting and construction services businesses may be exposed to warranty claims.
• The Company is a holding company and relies on cash from its subsidiaries to pay dividends.
• Costs related to obligations under MEPPs could have a material negative effect on the Company's results of operations and cash flows.
• Information technology disruptions or cyberattacks could adversely impact the Company's operations.
• Other factors that could impact the Company's businesses.