Knife River Corporation (KNF) Earnings Call Transcripts

Knife River Corporation's Latest Earnings Call - Q1 FY2026

Knife River Corporation (KNF:US) reported a strong first quarter for 2026, with revenues increasing by 16% year-over-year to $XXX million and adjusted EBITDA also up 16%. The company achieved a record backlog of $1.2 billion, positioning it well for the construction season. Management reaffirmed its full-year guidance, expecting 2026 results to trend towards the upper half of revenue and adjusted EBITDA ranges, driven by strong demand and successful acquisitions.

Reported metrics

Guidance from management

Management reaffirmed its full-year guidance, expecting 2026 results to trend towards the upper half of revenue and adjusted EBITDA ranges, supported by strong demand and recent acquisitions.

What management said

I'll let Nathan take that. I'll just preface it with, our pipeline is strong. And we mentioned the pipeline 3 months ago that it looks to be similar to last year's type of pipeline. And so we're off to a good start this year and we feel like we certainly have opportunities in the pipeline and that Nathan has a balance sheet that also allows us to continue to grow. So, I'll let you talk about that, Nathan.

Yes. I think with -- I would say that's immaterial, and that's not something that we're concerned about. We've got record backlog, $1.2 billion, 25% up over last year. We continue to look at the strong DOT budgets, up 15% year-over-year in our markets. And with that comes the bid letting schedules, and what I'm seeing at the local state level, really no concerns around the gas tax holidays.

What analysts pressed on

Analysts expressed concerns about the impact of gas tax holidays on infrastructure spending and the potential for margin contraction in contracting services. Questions were raised regarding the sustainability of pricing power amidst rising energy costs and competitive pressures in the market.

Main topics on the call

• Revenue and EBITDA Growth — Knife River reported a 16% year-over-year increase in both revenue and adjusted EBITDA, reflecting strong market activity and effective cost management. CEO Brian Gray stated, "We are just now entering the construction s...
• Record Backlog — The company secured a record backlog of $1.2 billion, up 25% from the previous year. This backlog is expected to provide good visibility into future activity, with approximately 75% projected to be completed in 2026.
• Acquisition Strategy — Knife River completed three aggregates-based acquisitions during the quarter, enhancing its market position and operational capabilities. Gray noted, "We believe this combination of culture, credibility and capabilities ...
• Cost Control and Pricing Strategy — Management highlighted successful cost control measures and dynamic pricing strategies to mitigate rising energy costs. CFO Nathan Ring mentioned, "We are utilizing a number of mitigating activities in our materials and ...

Read the full Knife River Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 13 Knife River Corporation earnings call transcripts on record, spanning August 8, 2023 to August 4, 2026. Based on this history, Knife River Corporation reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

KNF

Exchange

NYSE

Country

US

Sector

Materials

Industry

Construction Materials

Calls on record

13

First call

August 8, 2023

Most recent

August 4, 2026

Reporting cadence

quarterly