Knife River Reports Strong Q4, Full-Year 2025 Results & Initiates Positive 2026 Guidance
KNF sits 41% above its 52-week low of $58.72.
Summary
Knife River Corporation announced strong fourth-quarter and solid full-year 2025 financial results, driven by acquisitions and operational improvements, and provided optimistic financial guidance for 2026.
Key Events · Earnings and Guidance · KNF
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Strong Fourth Quarter 2025 Performance
The company reported a 15% increase in Q4 2025 revenue to $755.1 million, a 38% rise in net income to $32.0 million, and a 47% surge in Adjusted EBITDA to $119.4 million, compared to the prior year.
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Solid Full-Year 2025 Operational Growth
For the full year 2025, revenue grew 9% to $3.15 billion and Adjusted EBITDA increased 7% to $496.5 million. Net income, however, decreased 22% to $157.1 million, primarily due to higher interest expenses from significant acquisition financing.
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Initiates Positive 2026 Financial Guidance
Knife River expects full-year 2026 revenue between $3.3 billion and $3.5 billion, and Adjusted EBITDA between $520 million and $560 million, indicating continued growth.
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Strategic Acquisitions and Record Backlog
The company completed five aggregates-based acquisitions in 2025, spending $610 million, and enters 2026 with a record year-end backlog of $1 billion, signaling ongoing strategic expansion and future project visibility.
Analysis · KNF · Energy & Transportation
Knife River Corporation delivered a strong fourth quarter in 2025, with significant year-over-year increases in revenue, net income, and Adjusted EBITDA, driven by acquisitions and operational efficiencies. While full-year 2025 net income declined due to higher interest expenses associated with substantial acquisition activity, the company's full-year revenue and Adjusted EBITDA still grew. The initiation of optimistic 2026 financial guidance, coupled with a record $1 billion year-end backlog and continued strategic M&A plans, signals a positive outlook for sustained growth and operational performance.
At the time of this filing, KNF was trading at $83.03 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $58.72 to $105.99. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.