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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Knife River
Knife River (KNF) investor relations material
Knife River Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Q3 revenue rose 6% YoY to $1,275.6M; Adjusted EBITDA was $271.7M versus $272.8M, and net income fell 4% to $137.9M.
Record aggregates profitability was offset by contracting, energy-cost and project-delay headwinds; Sharper EDGE targets operational, commercial and organizational improvements.
Financial highlights
Q3 gross profit increased 1% to $287.6M; operating income was $214.1M versus $215.2M, and diluted EPS was $2.43 versus $2.52.
Aggregate gross margin reached a Q3 record 29.6%, up 240 bps YoY; aggregate volumes rose 10% and pricing increased 4.3%.
Nine-month revenue increased 10% to $2,624.3M, while net income declined to $102.6M from $125.1M; Adjusted EBITDA rose to $379.6M from $377.1M.
Q3 pricing added $23.9M across legacy operations; acquisitions and higher product volumes also supported revenue.
Outlook and guidance
FY2026 revenue guidance is $3,375M-$3,425M and Adjusted EBITDA guidance is $475M-$505M; assumptions include normal conditions and exclude future acquisitions.
FY aggregates volume growth is expected at high-single digits to low-double digits, with mid-single-digit pricing growth; ready-mix and asphalt volumes are also expected to rise high-single digits to low-double digits.
Second-half contracting margin is expected at 8%-9%; FY2026 depreciation, depletion and amortization is expected to increase mid-teens.
FY maintenance and improvement capex is expected at 5%-6% of revenue; net leverage was 2.9x at quarter-end against a 2.5x long-term target.
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Latest events from Knife River
- Record FY 2023 results lifted Adjusted EBITDA margin to 15.3%, two years ahead of target.KNF
Q4 2023 - Margin and EBITDA growth driven by integration, disciplined expansion, and resilient markets.KNFCorporate presentation
- Q2 2026 revenue up 13% to $938.6M, guidance raised, but net income down on higher costs.KNFQ2 2026
- Record year, all proposals approved, and no questions raised during the annual meeting.KNFAGM 2026
- Revenue up 16% to $410.1M, record backlog, margin gains, and acquisitions drive growth.KNFQ1 2026
- Proxy covers director elections, executive pay, auditor ratification, and strong ESG focus.KNFProxy filing
- Record 2025 revenue, EBITDA, and backlog set the stage for continued growth in 2026.KNFQ4 2025
- Record Q3 results, six acquisitions, and strong public funding drive growth outlook.KNFQ3 2024
- Q1 revenue up 7% with higher losses, but 2025 guidance raised on strong backlog and acquisitions.KNFQ1 2025
Next Knife River earnings date
Q4 202612 Feb, 2027
Knife River
Next Knife River earnings date
Q4 202612 Feb, 2027
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Frequently asked questions
Knife River Corporation is a provider of aggregates-based construction materials and contracting services in the United States. The company's operations are diversified across six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. Knife River's product line includes construction aggregates such as crushed stone, sand, and gravel, as well as asphalt and ready-mix concrete. It also offers contracting services to complement its aggregate-based product lines, including heavy-civil construction, asphalt and concrete paving, and site development and grading. The company serves a broad range of clients, including federal, state, and municipal governments for various projects like highways, bridges, airports, schools, and other public infrastructure projects. Knife River Corporation is headquartered in Bismarck, North Dakota, and its shares are listed on the New York Stock Exchange.