Knife River Corp — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Knife River reported Q3 2026 revenue of $1,275.6M (up 6% YoY) and net income of $137.9M (down 4% YoY). Aggregate gross margin expanded 240 basis points to 29.6%. However, the company lowered full-year 2026 guidance to $3,375–$3,425M revenue and $475–$505M Adjusted EBITDA (vs. prior expectations), citing near-term headwinds in contracting services, project delays, and higher fuel costs. The company announced 'Sharper EDGE' strategic initiatives targeting operational improvements and disclosed $185.7M in acquisitions and $81M in organic growth capex YTD, with net leverage at 2.9x.
Why this rating
Positive: margin expansion and volume growth in core aggregates. Negative: guidance cut, lower backlog ($857M vs $995M prior year), contracting margin compression. Net effect ordinary for a $4.6B company—solid operational execution offset by near-term cyclical headwinds. Not trajectory-altering.
See more from November 3, 2026.
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