Q2 2025 Knife River Corp Earnings Call Transcript
Key Points
- Knife River Holding Co (KNF) reported a record backlog of $1.3 billion, the highest in the company's history, indicating strong future demand.
- The company secured $650 million in new projects during the quarter, a $250 million increase from the same time last year.
- Aggregate volumes were up almost 60% in California, Hawaii, and Alaska, showing strong performance in these regions.
- The acquisition of Strata contributed positively to record second-quarter volumes, revenue, and EBITDA.
- Knife River Holding Co (KNF) is actively pursuing growth through acquisitions, with recent purchases of Kramer Trucking and High Desert Aggregates and Paving.
- Unfavorable weather conditions, particularly rain, significantly impacted operations, reducing revenue, volumes, and gross profit.
- The Oregon market faced challenges with project delays and funding issues, contributing to over 50% of the company's EBITDA variance for the quarter.
- Sales volumes at the Honey Creek quarry in Texas are expected to be down for the third quarter due to flood damage.
- The company experienced an 8.5% decline in contracting services revenue for the quarter compared to last year.
- Softening in the Oregon market shifted Knife River Holding Co (KNF)'s overall revenue mix away from this higher-margin market, impacting gross margins.
Good morning ladies and gentlemen, and welcome to the Knife River Corporation second quarter results conference call. (Operator Instructions) Also know that this call is being recorded on Tuesday, August 5, 2025.
And I would like to turn the conference over to Nathan Ring, CFO. Please go ahead.
Thank you, and welcome to everyone joining us for the Knife River Corporation Second Quarter Results Conference Call. My name is Nathan Ring, Chief Financial Officer of Knife River, and I'm joined by our President and Chief Executive Officer, Brian Gray. Today's discussion will contain forward-looking statements about future operational and financial expectations. Actual results may differ materially from those projected in today's forward-looking statements.
For further detail, please refer to today's earnings release and the risk factors disclosed in our most recent filings with the SEC, which are available on our website and the SEC website. Except as required by law, we
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
