Quarterly ResultMay 5, 2026, 07:57 AM
Knife River Q1 Revenue +16% to $410.1M; Record Backlog $1.2B; 3 Acquisitions
AI Summary
Knife River Corporation reported its first-quarter 2026 financial results, with revenue increasing 16% to $410.1 million and Adjusted EBITDA improving 16% to $(31.8) million. The company completed three aggregates-based acquisitions and achieved a record first-quarter backlog of $1.2 billion. Despite a net loss of $(79.2) million, management expressed optimism, citing double-digit volume increases and cost controls. Knife River also provided full-year 2026 guidance, projecting revenue between $3.3 billion and $3.5 billion.
Key Highlights
- Completed three aggregates-based acquisitions in Q1 2026.
- Record first-quarter backlog reached $1.2 billion, up from $938.7 million.
- Q1 2026 revenue increased 16% to $410.1 million.
- Adjusted EBITDA improved 16% to $(31.8) million.
- Net loss per share was $(1.40), compared to $(1.21) in Q1 2025.
- Full-year 2026 revenue guidance set between $3.3 billion and $3.5 billion.
- Mountain segment revenue grew 23% to $81.2 million.
- Central segment revenue increased 49% to $101.2 million.