Knife River Guides FY Revenue to $3.38B-$3.43B
KNF sits 20% above its 52-week low of $47.79.
Summary
Knife River put fiscal-year revenue at $3.38B-$3.43B, its first explicit top-line range for the year. The company reported third-quarter EPS of $2.43, net income of $137.9M and revenue of $1.28B. The guidance lands against a weak profitability backdrop: Q2 and year-to-date revenue grew but the net loss widened on competitive margins, higher expenses and interest costs. This is the first hard revenue target management has given since activist Starboard Value took a stake in September and demanded adjusted EBITDA margins of at least 22%, then threatened board action in an October 30 letter if the company fell short. The revenue range alone doesn't settle the margin debate — the Street will want the EBITDA bridge that goes with it.
At the time of this announcement, KNF was trading at $57.50 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $47.79 to $96.28. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.