Knife River(NYSE) KNF

Knife River Corporation NYSE:KNF builds roads, bridges, and airports. It provides materials and labor for infrastructure projects. These services keep communities connected across the country.

What Does Knife River Build?

• Contracting Services: Heavy-civil construction, paving, and site development; generated $406.5 million in revenue for the quarter ended June 30, 2026.
• Ready-mix Concrete: Production and delivery of building concrete; accounted for $236.7 million in revenue during the second quarter of 2026.
• Aggregates: Crushed stone, sand, and gravel; provided $194.7 million in revenue for the quarter ended June 30, 2026.
• Asphalt: Manufacturing and paving of road materials; contributed $133.5 million in revenue during the second quarter of 2026.
• Liquid Asphalt: Specialized materials used in road construction; earned $91.4 million in revenue for the quarter ended June 30, 2026.

Expanding the Footprint

• Finalized four aggregates-based acquisitions in the Mountain and West regions during the first half of 2026.
• Entered the Utah market through the acquisition of Morgan Asphalt, securing aggregate reserves projected to last over 30 years.
• Invested in organic expansion projects in South Dakota, Minnesota, and Texas to increase production capacity.
• Launched the EDGE initiative in 2023 to focus on higher-margin bidding and improve operational efficiencies.

Control Over the Supply Chain

Knife River maintains 1.3 billion tons of aggregate reserves to support its integrated business strategy. About 85% of its $1.2 billion backlog, which represents the value of signed contracts for future work, is dedicated to publicly funded infrastructure.

Checking the Financial Vitals

• Revenue was $938.6 million for the three months ended June 30, 2026, up 13% year over year.
• Net income was $43.9 million for the three months ended June 30, 2026, down 13% year over year.
• The contracting services backlog reached $1.2 billion as of June 30, 2026.
• Capital expenditures for growth initiatives totaled $244.5 million for the six months ended June 30, 2026.

Bottom Line

Knife River has evolved into a leading integrated materials supplier and contractor by leveraging its natural reserves and specialized services. Its focus on public infrastructure projects provides a stable foundation that helps offset the cyclical nature of private construction markets.