Welcome to our dedicated page for Knife River Ord Shs When Issued news (Ticker: KNF), a resource for investors and traders seeking the latest updates and insights on Knife River Ord Shs When Issued stock.
Knife River Corporation (NYSE: KNF) is an aggregates-led, vertically integrated construction materials and contracting services company and a member of the S&P MidCap 400 index. The KNF news feed highlights company announcements about aggregates mining, crushed stone, sand, gravel, ready-mix concrete, asphalt, liquid asphalt and related construction materials, along with updates on its contracting services.
Investors and industry followers can use this page to review Knife River’s press releases on quarterly and annual financial results, including revenue trends, Adjusted EBITDA commentary and segment performance across its West, Mountain, Central and Energy Services operations. Earnings releases often discuss backlog levels, infrastructure funding, pricing actions and the impact of weather and seasonality on construction activity.
The KNF news stream also covers strategic acquisitions and growth initiatives. Recent examples include the acquisition of Strata Corporation, an aggregates-led, vertically integrated company in North Dakota and northwestern Minnesota, bolt-on acquisitions in Central Minnesota and Central Oregon, and the purchase of Texcrete Operations LLC and TexAgg LLC in Texas, which added ready-mix plants, trucks and additional sand and gravel reserves in the Bryan/College Station area.
Project-related news features large public infrastructure contracts, such as Knife River’s role as an asphalt and paving subcontractor on the State Highway 6 “Big 6” improvement project in Texas, where the company is providing hot-mix asphalt and may supply additional materials like sand, MSE backfill and base course. Corporate updates, including leadership changes such as the creation of a Chief People Officer role, are also reflected in the company’s releases.
By following the KNF news page, readers can track how Knife River’s aggregates, construction materials and contracting services business evolves across its U.S. regional segments, and how management communicates strategy, capital allocation and market conditions over time.
Knife River (NYSE: KNF) has announced the promotion of Sarah L. Stevens to Vice President and Chief People Officer, succeeding Nancy K. Christenson who retired after a 47-year tenure with the company. Stevens, previously Vice President of Human Resources, brings 19 years of experience at Knife River to her new role.
In her position as Chief People Officer, Stevens will oversee Human Resources, compensation and benefits, HR compliance, team member relations, recruitment and retention, training and career development. She holds an MBA from George Fox University, an undergraduate degree from the University of Puget Sound, and maintains SPHR and SHRM-SCP certifications.
Knife River (NYSE: KNF), a vertically integrated construction materials and contracting services company with a focus on aggregates, has scheduled its first quarter 2025 earnings conference call for May 6, 2025, at 11 a.m. EDT. The company will release its Q1 2025 financial results before the NYSE market opens on the same day.
The earnings call will be accessible via a live webcast on the company's investor relations website, with presentation slides available. Participants can join through domestic (1-800-549-8228) or international (1-289-819-1520) phone lines using conference ID 83668. An on-demand replay will be available after the call.
Knife River (NYSE: KNF) has completed its acquisition of Strata for $454 million, representing approximately 9x Strata's projected 2025 EBITDA. The acquisition strengthens Knife River's Central Region operations and includes significant assets:
- Extensive aggregate reserves with 3 million tons sold in 2024
- Transportation fleet including 7 locomotives and 400+ railcars
- 28 ready-mix plants with ~120 trucks
- 3 asphalt plants for public works
- Contracting services division for asphalt paving and concrete construction
The deal brings aboard 900+ seasonal team members, including Strata President Paddy Murphy, who will lead Knife River's North Dakota operations. The acquisition was financed through cash and a $500 million Term Loan B. Knife River expects the acquisition to be accretive to Adjusted EBITDA margin within the first year and will update its 2025 financial guidance in Q1 earnings.
Knife River (NYSE: KNF) reported record financial results for Q4 and full-year 2024. The company achieved full-year revenue of $2.89 billion (up 2%), net income of $201.7 million (up 10%), and adjusted EBITDA of $463 million (up 7%).
Q4 2024 highlights include revenue of $657.2 million (up 2%), net income of $23.3 million (up 12%), and adjusted EBITDA of $81.2 million (up 12%). The company's backlog stands at $746 million, 13% higher than last year.
The company announced its pending acquisition of Strata for $454 million, expected to close in H1 2025. For 2025, Knife River provided guidance of $3.0-3.2 billion in revenue and $485-535 million in adjusted EBITDA, excluding the Strata acquisition impact.
Knife River (NYSE: KNF), a construction materials and contracting services company, has scheduled its fourth quarter and full-year 2024 earnings conference call for February 13, 2025, at 11 a.m. EST. The company will release its financial results before the NYSE market opens on the same day.
The earnings call will be accessible through a live webcast on the company's investor relations website, with presentation slides available. Participants can join via phone using the following details: Domestic: 1-800-549-8228, International: 1-289-819-1520, Conference ID: 23801. An on-demand replay will be available after the call.
Knife River (NYSE: KNF) has announced a definitive agreement to acquire Strata for $454 million, representing a high single-digit multiple based on Strata's projected 2025 Adj. EBITDA. Founded in 1910, Strata is a vertically integrated construction materials provider with over 75 aggregates locations, 28 ready-mix plants, three asphalt plants, and extensive rail assets in North Dakota and northwestern Minnesota.
The acquisition, expected to close in first half 2025, will be financed through cash on hand and long-term debt issuance. Knife River expects the deal to be accretive to its Adj. EBITDA margin within the first year. Strata, which employs over 900 team members during peak season, will integrate into Knife River's Central Segment, expanding the company's service territory in a familiar region.
Knife River (NYSE: KNF) has appointed Glenn R. Pladsen as Vice President and Chief Excellence Officer, effective January 1, 2025. Pladsen will lead core elements of the company's 'Competitive EDGE' strategy, focusing on EBITDA Margin Improvement, Discipline, Growth, and Excellence. In his current role as vice president of support services, Pladsen has been instrumental in launching Process Improvement Teams (PIT Crews) and the Knife River Training Center. The expanded role aims to achieve industry-leading safety performance and excellence across commercial and operational initiatives.
Knife River (NYSE: KNF) reported record third quarter results with revenue of $1.1 billion (+1% YoY), gross profit of $273 million (+1% YoY), and net income of $148.1 million (+1% YoY). The company announced six acquisitions totaling $129.3 million, focusing on aggregate reserves and construction materials. Geographic segments contributed record EBITDA of $224.6 million, up 6% year-over-year. The company narrowed its 2024 guidance, expecting revenue between $2.85-2.95 billion and adjusted EBITDA of $445-465 million.
Knife River (NYSE: KNF), an aggregates-led, vertically integrated construction materials and contracting services company, has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Monday, November 4, 2024, at 11 a.m. EST. Financial results for the quarter will be released earlier that morning, before the NYSE market opens.
Investors and interested parties can access the live webcast of the call, along with presentation slides, through the Investors section of Knife River's website at investors.kniferiver.com or via https://events.q4inc.com/attendee/304447263. For those who wish to participate in the live conference call, domestic callers can dial 1-800-549-8228, while international callers should use 1-289-819-1520. The Conference ID for the call is 66729. An on-demand replay of the webcast will be made available after the conclusion of the call.
Knife River reported record second-quarter financial results for the period ended June 30, 2024.
Key highlights include:
- Revenue: $806.9 million, up 3% year-over-year.
- Net Income: $77.9 million, up 37% year-over-year.
- Gross Profit: $176.2 million, up 15% year-over-year.
- Adjusted EBITDA: $154.3 million, up 22% year-over-year.
- Net Income Per Share: $1.37, up 37% year-over-year.
The company raised its full-year 2024 guidance, anticipating revenue between $2.8 billion and $3.0 billion and Adjusted EBITDA between $445 million and $485 million.
CEO Brian Gray attributed the strong performance to favorable market conditions, effective pricing strategies, and solid execution. The company continues to optimize costs, has a nearly $1 billion backlog, and sees positive outlooks due to the Infrastructure Investment and Jobs Act funding and state-level construction initiatives.