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.
Key figures
- Eps
- 2.43
- Guidance
- FY2026 revenue $3,375.0M-$3,425.0M; Adjusted EBITDA $475.0M-$505.0M (updated to reflect near-term headwinds)
- Revenue Yoy
- 6%
- Cash
- $118.0 million unrestricted
- Backlog
- $857.2M vs $994.6M prior year
- Gross debt
- $1.6 billion
- Net income
- 137900000
- Net leverage
- 2.9x
- Net income yoy
- -4%
- Adjusted ebitda
- 271700000
- Adjusted ebitda yoy
- flat
- Adjusted ebitda margin
- 21.3%
- Aggregate gross margin
- 29.6% (record, +240bps)
AI analysis
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