Knife River Earnings Call Transcripts
Fiscal Year 2026
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Revenue and adjusted EBITDA rose 16% year-over-year, with margin expansion and strong volume growth across all product lines. Record backlog, strategic acquisitions, and robust market conditions support confidence in achieving the upper half of 2026 guidance.
Fiscal Year 2025
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Record profitability and margin expansion in 2025 were driven by acquisitions, dynamic pricing, and operational initiatives. Entering 2026 with a record $1B backlog, strong liquidity, and robust growth guidance, the company expects continued volume and margin gains across all segments.
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Record Q3 revenue and adjusted EBITDA were driven by acquisitions and operational improvements, with strong margin gains in aggregates and ready-mix. Backlog is up 32% year-over-year, and full-year guidance was narrowed, with weather and Oregon stabilization as key variables.
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Second quarter results were impacted by weather and Oregon project delays, but record backlog and strong public funding support a positive outlook. Acquisitions and dynamic pricing are driving growth, though guidance was lowered due to Oregon and weather headwinds.
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Record revenue and EBITDA are forecast for 2025, driven by acquisitions, public funding, and operational improvements. Aggregate and ready-mix volumes are set to rise, with strong public project backlog and disciplined capital allocation supporting growth.
Fiscal Year 2024
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Record 2024 results with revenue, EBITDA, and margin growth driven by pricing and operational initiatives. 2025 outlook calls for continued growth, strong backlog, and major acquisitions, with robust infrastructure funding and increasing private project activity.
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Record Q3 revenue and gross profit were driven by strong geographic segment performance and strategic pricing, despite intentional volume declines and higher SG&A costs. Six acquisitions totaling $129 million were completed, with benefits expected in 2025. Guidance was tightened, with continued focus on margin expansion and infrastructure funding.
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Record Q2 results with 22% adjusted EBITDA growth and a 15.9% margin, driven by price increases, operational improvements, and strong public infrastructure demand. 2024 guidance was raised for both revenue and EBITDA, with continued focus on margin expansion and disciplined growth.