Knife River Q1 revenue rises 16%, beats estimates

Knife River

05/05/2026 12:19

Overview

U.S. aggregates and construction materials firm's Q1 revenue rose 16%, beating analyst expectations

Q1 adjusted EBITDA loss narrowed and beat analyst expectations

Company completed three acquisitions and reported record Q1 backlog of $1.2 bln

Outlook

Knife River expects 2026 revenue between $3.3 bln and $3.5 bln

Company sees 2026 adjusted EBITDA of $520 mln to $560 mln

Aggregates and asphalt volumes expected to rise mid-single digits, ready-mix volumes mid-teens

Result Drivers

VOLUME INCREASES - Double-digit increases in aggregates, ready-mix, and asphalt volumes drove revenue and margin improvement

COST CONTROLS - Lower per-unit costs contributed to improved gross profit margins across product lines

ACQUISITIONS - Three aggregates-based acquisitions in Q1 contributed to revenue growth, especially in the Mountain and Central segments

Company press release: ID:nBwb8G8DKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$410.10 mln
$390.11 mln (8 Analysts)
Q1 EPS
-$1.40
Q1 Net Income
-$79.20 mln
Q1 Adjusted EBITDA
Beat
-$31.80 mln
-$37.99 mln (9 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the construction materials peer group is "buy"

Wall Street's median 12-month price target for Knife River Corp is $105.00, about 16.3% above its May 4 closing price of $90.30

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 21 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)