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), 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.
Knife River (NYSE: KNF), a leading aggregates-led construction materials and contracting services company, has announced its upcoming second quarter 2024 earnings conference call. The call is scheduled for Tuesday, Aug. 6, 2024, at 10 a.m. EDT. Financial results for the quarter will be released before the NYSE market opens on the same day.
Investors and interested parties can access the live webcast and presentation slides through the Investors section of the Knife River website or via a direct link. For those who prefer to participate in the live conference call, domestic and international dial-in numbers are provided, along with a conference ID. An on-demand replay of the webcast will be available after the call concludes.
Knife River (NYSE: KNF) has appointed Patricia Chiodo to its board of directors. Chiodo, who holds extensive financial expertise, will serve on the Audit and Compensation committees. Her previous roles include CFO at Verra Mobility and RSC Holdings. Chiodo also serves on the Audit Committee for UNS Energy and has experience with publicly traded companies like Embark Technology. Board Chair Karen Fagg highlighted Chiodo's experience in corporate strategy, mergers and acquisitions, risk management, and capital markets as valuable assets for Knife River's growth.
Knife River (NYSE: KNF) has elected Thomas W. Hill to its Board of Directors during the 2024 annual meeting. Hill, a veteran in the construction materials industry, brings over 40 years of experience, having served on the boards of CRH plc and Summit Materials. He founded Summit Materials and led it as CEO from 2009 to 2020. Hill will serve a three-year term on Knife River's Board, including roles on the Compensation and Nominating and Governance committees. His election follows the departure of former Director Tom Everist, who had been with Knife River since its separation from MDU Resources Group. Hill’s vast experience and industry leadership are expected to support Knife River’s long-term, profitable growth goals.
Knife River (NYSE: KNF) reported record revenue and increased backlog at higher margins for the first quarter of 2024. The company achieved revenue of $329.6 million, a 7% increase from the prior year, with gross profit growing by 59%. Knife River's net loss margin was 14.5%, while Adjusted EBITDA margin stood at 5.4%. The company continues to focus on organic and acquisition growth, with a strong pipeline of deals. Despite a seasonal net loss, Knife River reaffirmed its 2024 guidance, projecting mid-to-high single-digit price growth and flat to low-single-digit volume declines.
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