Knife River Corp reported a 13% year-over-year revenue increase in the second quarter of 2026, driven by record backlog conversion and double-digit volume growth across all product lines. The company raised its full-year revenue guidance to $3.4 billion to $3.6 billion and reaffirmed adjusted EBITDA guidance of $520 million to $560 million, though it now expects results near the midpoint rather than the upper end. Adjusted EBITDA was flat year-over-year on an as-reported basis, impacted by approximately $24 million in external headwinds including higher diesel costs, project delays in Texas, Hawaii, and Alaska, and lower contracting services margins. Aggregate pricing rose 8% on a product mix-adjusted basis, and the company's self-help initiatives reduced variable operating costs in aggregates by 1% despite inflationary pressures. Backlog expanded to $1.2 billion, up about $50 million sequentially, reinforcing confidence in second-half performance.
Knife River CorporationRecord backlog conversion and double-digit volume growth across all product lines drive 13% revenue increase and raised guidance.
