Knife River Corp (KNF) Knife River Corporation is a U.S.-based entity focused on supplying aggregate-derived building materials and offering related contracting services. Its business activities are structured across six distinct operational segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company is involved in extracting, processing, and distributing crucial construction aggregates, including varieties of crushed stone, sand, and gravel. Additionally, it produces and sells both asphalt and ready-mix concrete. To support these core product lines, Knife River also performs various contracting tasks, such as heavy-civil construction, paving with asphalt and concrete, and comprehensive site development and grading work. Its primary clients are governmental bodies at the federal, state, and municipal levels, for whom it undertakes a wide range of public infrastructure initiatives. These projects often include highways, bridges, airports, educational facilities, public buildings, and other foundational community works. Founded in 1917, the organization is headquartered in Bismarck, North Dakota.
Sector: Mining & Quarrying of Nonmetallic Minerals (No Fuels)
Industry: Construction Materials
Knife River Corporation NYSE:KNF Basic Materials · Construction Materials
CLOSED · Nov 6 $56.40 CLOSED · Nov 6 Prev close $57.25 Close $56.40 0.00% AH close $56.40 VOL 821K $ Vol $46.38M RVOL 1.07x
Mkt Cap $3.2B
VOL 821K sh
$ Vol $46.38M
RVOL 1.07×
Press Release ⚠ 4
Knife River Corporation Reports Third Quarter 2026 Financial Results
Knife River posted Q3 2026 revenue of $1,275.6 million, up 6% year-over-year, driven by asphalt paving and aggregate demand, with aggregate volumes up 10% and a record 29.6% aggregate gross margin (+240bps).
Profitability slipped despite the top-line growth: net income fell 4% to $137.9 million ($2.43 per share) and Adjusted EBITDA was flat at $271.7 million with margin compressing 140bps to 21.3%.
The company updated full-year 2026 guidance to revenue of $3,375-$3,425 million and Adjusted EBITDA of $475-$505 million, reflecting continued project delays, higher fuel costs, and competitive dynamics in contracting services.
Backlog fell 14% year-over-year to $857.2 million with margins expected to be lower than last year's backlog, though the company unveiled 'Sharper EDGE' self-help initiatives and an investor day is planned in the coming months.
• 5d ago AI analysis › Press Release ⚠ 2
Starboard Delivers Letter to Knife River
Starboard Value LP, a Knife River stockholder, delivered a letter to the company's board of directors, its first public step in an activist campaign.
The letter highlights Knife River's widening margin gap with peers and calls for a commitment to at least 22% adjusted EBITDA margins by FY2029.
Starboard is also demanding greater board accountability and management incentives more rigorously aligned with shareholder commitments; the full letter is available on Starboard's website.
• 9d ago AI analysis › Press Release
Knife River Corporation Announces Timing of Third Quarter 2026 Results Conference Call
Knife River Corporation will host its third quarter 2026 earnings conference call at 11 a.m. EDT on Tuesday, Nov. 3, 2026.
Financial results will be released that morning before the NYSE market opens, with a live webcast and slides available on the company's investor relations website.
This is a scheduling notice only; no results, guidance, or other financial figures are included in the release.
• 24d ago AI analysis › Press Release ⚠ 2
Knife River Reiterates Focus on Disciplined Execution and Shareholder Value Creation
Knife River issued a statement responding to a letter from activist investor Starboard Value, whose investment the company first learned of on September 22, 2026.
The Board said it welcomes shareholder input and will engage with Starboard, while reaffirming confidence in its EDGE strategy and vertically integrated construction materials platform.
No specific demands or strategic changes were disclosed; the activist stake itself is a potential catalyst for value-unlocking actions.
• 1mo ago AI analysis › Press Release ⚠ 2
Starboard Delivers Letter to Knife River
Starboard Value LP, a Knife River stockholder, delivered a public letter to CEO Brian Gray and the board criticizing the company's failure to deliver promised margin improvement.
Starboard outlined a path to 22% adjusted EBITDA margins by FY2029 through improved aggregates pricing and cost reductions, and urged the company to evaluate strategic alternatives given the scarcity value of its assets.
The letter escalates activist pressure and raises the prospect of strategic review or board changes at Knife River.
• 1mo ago AI analysis › Press Release ● Major ⚠ 3
Knife River Corporation Reports Second Quarter 2026 Financial Results
Knife River delivered Q2 revenue of $938.6 million, a 13% increase year-over-year, driven by 20% growth in contracting services and double-digit volume gains in material product lines.
The company raised its full-year 2026 guidance, projecting revenue between $3.4 billion and $3.6 billion and Adjusted EBITDA between $520 million and $560 million, supported by a sequentially increased backlog of $1.2 billion.
Despite the top-line growth, net income fell 13% to $43.9 million due to energy cost headwinds and tough comparisons against prior-year asset sale gains, though Adjusted EBITDA remained relatively stable at $139.7 million.
• 3mo ago AI analysis › Press Release
Knife River Corporation Announces Timing of Second Quarter 2026 Results Conference Call
Knife River Corporation announced it will host its second quarter 2026 earnings conference call on August 4, 2026, at 11:00 a.m. EDT.
The company plans to release its financial results for the quarter prior to the market opening that morning, with a live webcast available on its investor relations website.
Knife River operates as an aggregates-based construction materials and contracting services company and is a member of the S&P MidCap 400 index.
• 3mo ago AI analysis › Press Release
Knife River Corporation Reports First Quarter 2026 Financial Results
Knife River reported Q1 revenue of $410.1 million, up 16% year-over-year, driven by double-digit volume increases and improved cost controls that expanded Adjusted EBITDA margins by 290 basis points.
The company issued full-year 2026 guidance targeting revenue of $3.30B to $3.50B and Adjusted EBITDA of $520M to $560M, supported by a record first-quarter backlog of $1.2 billion.
Strategic growth continued with the completion of three acquisitions in the Mountain Region, reinforcing the company’s presence in high-growth markets.
• 6mo ago AI analysis › 
