Knife River Corporation has unveiled its latest financial results to investors as it looks to the future with the US-based company “well placed” for 2026.
The company reported consolidated revenue of $1.2 billion (up nine per cent from the year prior). According to the company, this was largely due to the acquired companies and slightly offset by a reduction in the workloads of its contracting services, especially in asphalt paving. Weather conditions impacted its operations in the Central US region as well as other parts of its operations which created delayed production.
“Our team faced external headwinds in the third quarter and responded with better year-over-year results, including record revenue and Adjusted EBITDA,” Knife River president and chief executive officer Brian Gray said.
“We benefited during the quarter from our recent acquisitions, which boosted our operations through a rainy summer, economic uncertainty in Oregon and a slower paving season in the Mountain Segment.
“Managing through adversity in 2025 while delivering record results has us optimistic for 2026.”
Following the reporting of its third quarter results, Knife River Corporation has narrowed its revenue guidance for 2025. Its guidance has adjusted revenue to be between $3.1 billion to $3.15 billion and its Adjusted EBITDA guidance to a range of $475 million to $500 million.
“We are focused on finishing 2025 strong, and we expect the work we are doing to manage costs, optimise prices and grow our business to pay off in 2026 and beyond. We have record backlog and a skilled team that is eager to continue implementing our strategies and delivering for our shareholders,” Gray said.
