Earnings ·
Knife River Corporation reported second quarter 2026 financial results on August 4, 2026
KNFKnife River Corp
Knife River Corporation reported second quarter 2026 financial results on August 4, 2026. Consolidated revenue increased 13% year-over-year to $938.6 million, driven by double-digit volume and gross profit growth across material product lines and a 20% increase in contracting services revenue. Net income decreased 13% to $43.9 million, or $0.77 per share, compared to $50.6 million in the prior year period, as Adjusted EBITDA remained flat at $139.7 million due to headwinds from energy costs and lower-margin contracting work. The company raised its full-year 2026 financial guidance, projecting revenue between $3.4 billion and $3.6 billion and Adjusted EBITDA between $520 million and $560 million. Additionally, the backlog for contracting services increased sequentially to $1.2 billion at June 30, 2026. Knife River Corporation operates in the construction materials industry, mining aggregates and providing vertically integrated contracting services.