Knife River Corp (NYSE:KNF)

Q3 2025 Knife River Corp Earnings Call Transcript

Nov 4, 2025 / 04:00 PM GMT

Release Date Price: $66.22 (+8.36%)

Transcript 10-Q8-K

Key Points

Positve

Knife River Holding Co (KNF) reported record financial results for the third quarter, with revenue of $1.2 billion and adjusted EBITDA of $273 million, driven by strong contributions from recent acquisitions.
The company achieved an EBITDA margin of 22.7% for the quarter, with improved gross margins across aggregate, ready mix, and asphalt product lines.
Knife River Holding Co (KNF) has a record third-quarter backlog with more pull-through of higher-margin asphalt paving materials than the previous year.
The company is optimistic about continued growth in the West, particularly in California, Hawaii, and Alaska, due to healthy demand and strong execution.
Knife River Holding Co (KNF) has a strong balance sheet with a net leverage position of 2.6 times and $457 million of borrowing capacity, allowing for future acquisitions and organic growth opportunities.

Negative

The company faced headwinds such as wet weather, a sluggish Oregon economy, and less asphalt paving across segments, impacting overall performance.
Third-quarter results in the mountain segment were affected by less asphalt paving due to project timing, type of work, competitive bid dynamics, and weather-related delays.
The asphalt product line experienced a decline in internal sales volumes by approximately 7% for the quarter, impacting overall performance.
Contracting services revenue and gross profit declined due to less paving work and lower margin availability on backlog work performed.
SG&A costs increased over the third quarter last year, primarily due to overhead from recent acquisitions, although they were lower than forecasted.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KNF.N - Knife River Corp
Q3 2025 Knife River Corp Earnings Call
Nov 04, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to the Nifrever Corporation's 3rd quarter results conference call.

At this time, all answers are in listen-only mode.

Following the presentation, we will conduct a question-and-answer session.

If at any time during this call you require immediate assistance, please press 0 for the operator.

This call is being recorded on Tuesday, November 4th, 2025.

I would now like to turn the conference over to Nathan Ring. Please go ahead.

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Unidentified_2 [2]
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Thank you and welcome

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