Knife River Corp

Knife River Corporation appointed Peggy S. Rebstock as Vice President, Chief Accounting Officer, and Controller, effective May 21, 2026. Ms. Rebstock, previously VP of Financial Planning and Analysis, will receive an annual base salary of $320,000 and remain eligible for executive incentive plans. Concurrently, Marney L. Kadrmas transitioned to Senior Vice President of Financial Strategy. Additionally, stockholders approved the election of two Class III Directors, the advisory vote on executive compensation, and the ratification of Deloitte & Touche LLP as the independent auditor for 2026 at the Annual Meeting.

Knife River Corporation amended its Credit Agreement, increasing its existing term B loans by $400 million, bringing the total outstanding to $895 million. The amendment also reduced the applicable interest rate margin by 0.25%. The company plans to use the proceeds to refinance existing term B loans, repay borrowings under its Revolving Credit Facility, and for general working capital and corporate purposes.

Knife River Corp reported a 15.9% increase in total revenue to $410.1 million for the three months ended March 31, 2026, compared to $353.5 million in the prior year. Despite the revenue growth and a significant reduction in gross loss, the company's net loss widened by 15.2% to $79.2 million, or $(1.40) per share. The company also completed three acquisitions totaling $174.2 million, expanding its Mountain segment and entering a new state, and reported a strong backlog of $1.2 billion.

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.