Knife River Reports Q1 2026 Results, Projects $3.3B-$3.5B Full-Year Revenue & $520M-$560M Adjusted EBITDA
KNF sits 57% above its 52-week low of $58.72.
Summary
Knife River reported mixed Q1 2026 results with increased revenue and improved Adjusted EBITDA but a higher net loss, while issuing full-year 2026 revenue guidance of $3.3B-$3.5B and Adjusted EBITDA guidance of $520M-$560M.
Key Events · Earnings and Guidance · KNF
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Q1 2026 Financial Performance
Reported Q1 2026 revenue of $410.1 million, a 16% increase year-over-year. Net loss increased to $(79.2) million, but Adjusted EBITDA improved by 16% to $(31.8) million, with Adjusted EBITDA margin improving by 290 basis points.
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Full-Year 2026 Financial Guidance
Issued full-year 2026 guidance, projecting revenue between $3.3 billion and $3.5 billion and Adjusted EBITDA between $520 million and $560 million. This guidance is based on normal weather and operating conditions.
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Strategic Growth Initiatives
Completed three aggregates-based acquisitions in the first quarter, investing $174.2 million in acquisitions and $35.0 million in organic growth projects. The company expects to spend an additional $101.4 million on organic growth for the remainder of 2026.
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Record Backlog
Achieved a record first quarter backlog of $1.2 billion, indicating strong underlying demand for contracting services, with approximately 88% related to publicly funded projects.
Analysis · KNF · Energy & Transportation
Knife River Corporation announced its first quarter 2026 financial results, showing a 16% increase in revenue to $410.1 million and a 16% improvement in Adjusted EBITDA, despite a higher net loss. The company also provided full-year 2026 guidance, projecting revenue between $3.3 billion and $3.5 billion and Adjusted EBITDA between $520 million and $560 million. This guidance, which was partially anticipated by recent news, provides a forward-looking view for investors. Strategic growth initiatives, including three aggregates-based acquisitions in the quarter and a record first-quarter backlog of $1.2 billion, underpin the company's positive outlook for the year.
At the time of this filing, KNF was trading at $92.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $58.72 to $103.18. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.