Knife River(NYSE) KNF

Knife River Corporation 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.