NYSE$KNF

Knife River Corp · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Knife River reported Q4 2025, revenue of $755.1M, net income of $32M.

For Q4 2025, Knife River reported revenue of $755.1M, net income of $32M. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Revenue $755.1M.
  • Net income $32M.
  • Knife River highlights liquidity, operations, and 2026 priorities.

Headline financials

Total Revenue

$755M

Previous: $657M+14.9%
EPS (adj)

$0.56

Previous: $0.41+36.6%
Aggregates Sales Volume

8.2M

Previous: 7.0M+17.0%
Ready-mix Sales Volume

997.0K

Previous: 831.0K+20.0%
Asphalt Sales Volume

1.4M

Previous: 1.3M+8.7%
Aggregates Average Price

$18.53

Previous: $17.14+8.1%
Ready-mix Average Price

$204.09

Previous: $195.57+4.4%
Asphalt Average Price

$67.79

Previous: $71.32-4.9%
Backlog

$1.03B

Previous: $746M+38.4%
Net Income Margin

4.2%

Previous: 3.5%+20.0%
Adjusted EBITDA

$119M

Previous: $81.2M+47.0%
Adjusted EBITDA Margin

15.8%

Previous: 12.4%+27.4%
Aggregates Gross Margin

17.2%

Previous: 15.2%+13.2%
Ready-mix Gross Margin

19.5%

Previous: 17.2%+13.4%
Asphalt Gross Margin

14.7%

Previous: 14.8%-0.7%
Net Income

$32M

Previous: $23.3M+37.5%
Operating Income

$65.2M

Previous: $44M+48.2%
Gross Profit

$145M

Previous: $114M+27.3%

Revenue & EPS history

Knife River · Revenue · Quarterly

$755M

Q4 2025+14.9%vs Q4 2024
Beat estimate in 9 of 11 quarters(82%)
ActualEstimate

Forward guidance

The release discusses Knife River's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Knife River cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 14 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+1.5%

Avg return

Earnings day

+4.3%

Avg return

5 days after

+3.3%

Avg return

30 days after

64%

9 / 14 earnings

Positive

+16.6%

Q4 2025

Best reaction

-6.0%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.6%+0.2%-15.2%
Q4 2025+16.6%+12.3%-1.0%
Q3 2025+8.5%+16.2%+21.2%
Q1 2025-5.3%-2.0%-4.8%
Q4 2024+4.3%+8.0%-4.1%
Q3 2024-6.0%+3.7%+6.3%
Q2 2024-0.7%+3.6%+6.4%
Q1 2024-5.7%-2.8%-16.0%
Q4 2021+0.1%+3.1%+12.2%
Q4 2023+1.0%+0.2%+9.2%
Q3 2023+1.2%+2.4%+12.1%
Q3 2022+1.2%+2.4%+12.1%
Q2 2023+5.0%+6.5%+4.3%
Q2 2022+5.0%+6.5%+4.3%
Q1 2023
Q4 2022
Q1 2022

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