Knife River Corp (KNF) financial statements: income statement, balance sheet and cash flow
Knife River Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Knife River Corp reported revenue of $3.1B (+8.5% year on year) and net income of $157.1M (-22.1% year on year).
Income statement
Knife River Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Total revenue
$3.1B
$2.9B
$2.8B
Total cost of revenue
$2.6B
$2.3B
$2.3B
Gross profit
$577.3M
$569.8M
$538.9M
Selling, general and administrative expenses
$291.5M
$253.6M
$242.5M
Operating income
$285.9M
$316.2M
$296.4M
Interest expense
$81.9M
$55.2M
$58.1M
Other income
$9.3M
$10.0M
$7.0M
Income before income taxes
$213.2M
$271.0M
$245.3M
Income taxes
$56.1M
$69.3M
$62.4M
Net income
$157.1M
$201.7M
$182.9M
Basic (in dollars per share)
$2.77
$3.56
$3.23
Diluted (in dollars per share)
$2.76
$3.55
$3.23
Basic (in shares)
56.7M
56.6M
56.6M
Diluted (in shares)
56.9M
56.8M
56.7M
Knife River Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$938.6M
$410.1M
$1.2B
$833.8M
Cost of revenue:
$775.8M
$412.9M
$919.4M
$676.5M
Gross profit
$162.8M
($2.8M)
$284.3M
$157.2M
Selling, general and administrative expenses
$81.7M
$83.5M
$69.1M
$69.2M
Operating income (loss)
$81.1M
($86.2M)
$215.2M
$88.1M
Interest expense
$24.6M
$20.7M
$23.0M
$22.3M
Other income
$3.3M
($632.0K)
$1.2M
$2.2M
Income (loss) before income taxes
$59.8M
($107.6M)
—
$67.9M
Income tax expense (benefit)
$16.0M
($28.4M)
$50.2M
$17.3M
Net income (loss)
$43.9M
($79.2M)
$143.2M
$50.6M
Basic (in dollars per share)
$0.77
-$1.40
$2.53
$0.89
Diluted (in dollars per share)
$0.77
-$1.40
$2.52
$0.89
Basic (in shares)
56.8M
56.7M
56.7M
56.7M
Diluted (in shares)
56.9M
56.7M
56.9M
56.9M
Balance sheet
Knife River Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Cash, cash equivalents and restricted cash
$123.4M
$281.1M
$262.3M
Receivables, net
$278.0M
$267.2M
$266.8M
Contract assets
$77.5M
$31.3M
$27.3M
Inventories
$435.7M
$380.3M
$319.6M
Prepayments and other current assets
$46.2M
$27.7M
$37.5M
Total current assets
$960.9M
$987.7M
$913.5M
Net property, plant and equipment
$2.0B
$1.4B
$1.3B
Goodwill
$519.7M
$297.2M
$274.5M
Other intangible assets, net
$32.7M
$29.4M
$10.8M
Operating lease right-of-use assets
$52.6M
$49.4M
$44.7M
Investments and other
$55.3M
$45.8M
$41.2M
Total noncurrent assets
$2.7B
$1.9B
$1.7B
Total assets
$3.7B
$2.9B
$2.6B
Long-term debt - current portion
$11.7M
$10.5M
$7.1M
Accounts payable
$145.6M
$140.8M
$107.7M
Contract liabilities
$33.8M
$42.1M
$51.4M
Accrued compensation
$44.3M
$50.7M
$48.1M
Current operating lease liabilities
$15.9M
$14.8M
$12.9M
Other taxes payable
$11.3M
$8.3M
—
Accrued interest
$7.3M
$5.5M
—
Other accrued liabilities
$108.1M
$97.3M
$120.1M
Total current liabilities
$378.0M
$370.0M
$347.3M
Long-term debt
$1.2B
$666.9M
$674.6M
Deferred income taxes
$287.9M
$174.7M
$174.5M
Noncurrent operating lease liabilities
$36.6M
$34.5M
$31.8M
Other
$152.8M
$128.9M
$105.7M
Total liabilities
$2.0B
$1.4B
$1.3B
Common stock, 300,000,000 shares authorized, $0.01 par value, 57,095,301 shares issued and 56,664,165 shares outstanding at December 31, 2025; 57,043,841 shares issued and 56,612,705 shares outstanding at December 31, 2024
571.0K
570.0K
570.0K
Other paid-in capital
$629.6M
$620.9M
$614.5M
Retained earnings
$1.0B
$867.5M
$665.9M
Treasury stock held at cost - 431,136 shares
-3.6M
-3.6M
-3.6M
Accumulated other comprehensive loss
($10.3M)
($9.3M)
($11.3M)
Total stockholders’ equity
$1.6B
$1.5B
$1.3B
Total liabilities and stockholders’ equity
$3.7B
$2.9B
$2.6B
Knife River Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash, cash equivalents and restricted cash
$102.0M
$75.5M
$81.1M
$77.7M
Receivables, net
$468.4M
$227.3M
$516.8M
$428.1M
Contract assets
$121.9M
$77.2M
$67.9M
$64.0M
Inventories
$507.3M
$480.5M
$436.5M
$479.5M
Prepayments and other current assets
$72.0M
$81.9M
$33.0M
$54.0M
Total current assets
$1.3B
$942.3M
$1.1B
$1.1B
Net property, plant and equipment
$2.2B
$2.2B
$2.0B
$1.9B
Goodwill
$584.0M
$573.1M
$469.4M
$464.1M
Other intangible assets, net
$33.7M
$38.1M
$33.4M
$38.1M
Operating lease right-of-use assets
$51.3M
$49.6M
$50.0M
$49.1M
Investments and other
$60.4M
$56.3M
$53.8M
$52.6M
Total noncurrent assets
$2.9B
$2.9B
$2.6B
$2.5B
Total assets
$4.2B
$3.8B
$3.7B
$3.6B
Long-term debt - current portion
$17.2M
$11.7M
$11.8M
$11.8M
Accounts payable
$227.9M
$131.4M
$211.2M
$172.2M
Contract liabilities
$26.6M
$30.3M
$42.8M
$36.3M
Accrued compensation
$38.4M
$23.1M
$37.0M
$31.4M
Accrued interest
$11.8M
$16.2M
$15.7M
$7.7M
Current operating lease liabilities
$16.5M
$15.6M
$14.7M
$14.3M
Other taxes payable
$18.8M
$14.3M
$28.7M
$18.0M
Other accrued liabilities
$119.9M
$109.7M
$112.6M
$105.6M
Total current liabilities
$477.2M
$352.3M
$474.4M
$397.2M
Long-term debt
$1.6B
$1.4B
$1.2B
$1.3B
Deferred income taxes
$296.5M
$292.3M
$264.2M
$257.5M
Noncurrent operating lease liabilities
$34.8M
$34.0M
$35.2M
$34.8M
Other
$163.3M
$158.3M
$146.3M
$139.7M
Total liabilities
$2.6B
$2.3B
$2.1B
$2.2B
Common stock, 300,000,000 shares authorized, $0.01 par value, 57,194,556 shares issued and 56,763,420 shares outstanding at June 30, 2026; 57,095,301 shares issued and 56,664,165 shares outstanding at June 30, 2025; 57,095,301 shares issued and 56,664,165 shares outstanding at December 31, 2025
572.0K
572.0K
571.0K
571.0K
Other paid-in capital
$629.6M
$627.1M
$626.8M
$623.9M
Retained earnings
$989.3M
$945.4M
$992.6M
$849.4M
Treasury stock held at cost - 431,136 shares
-3.6M
-3.6M
-3.6M
-3.6M
Accumulated other comprehensive loss
($10.0M)
($10.1M)
($9.1M)
($9.2M)
Total stockholders' equity
$1.6B
$1.6B
$1.6B
$1.5B
Total liabilities and stockholders' equity
$4.2B
$3.8B
$3.7B
$3.6B
Cash flow statement
Knife River Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Net income
$157.1M
$201.7M
$182.9M
Depreciation, depletion and amortization
$193.7M
$136.9M
$123.8M
Deferred income taxes
$25.5M
($350.0K)
($1.6M)
Provision for credit losses
$2.4M
$1.1M
$2.0M
Amortization of debt issuance costs
$3.7M
$2.8M
$3.1M
Stock-based compensation costs
$11.4M
$7.8M
$2.9M
Pension and postretirement benefit plan net periodic benefit cost
$1.2M
$1.6M
$1.2M
Unrealized gains on investments
($2.9M)
($2.9M)
($2.2M)
Gains on sale of assets
($21.8M)
($9.2M)
($27.0K)
Gain on bargain purchase
($3.5M)
—
—
Equity in unconsolidated affiliates
($259.0K)
($279.0K)
($286.0K)
Receivables
($44.0M)
$14.1M
($54.8M)
Due from related-party
$0
$0
$16.1M
Inventories
($13.4M)
($44.3M)
$3.7M
Other current assets
($9.1M)
$10.9M
($19.6M)
Accounts payable
($15.0M)
$7.3M
$33.1M
Due to related-party
$0
$0
($7.3M)
Other current liabilities
($9.3M)
($4.0M)
$49.0M
Pension and postretirement benefit plan contributions
($570.0K)
($2.7M)
($1.8M)
Other noncurrent changes
$3.3M
$1.9M
$5.7M
Net cash provided by operating activities
$278.5M
$322.3M
$335.7M
Capital expenditures
($348.0M)
($172.4M)
($124.3M)
Acquisitions, net of cash acquired
($610.0M)
($131.0M)
$0
Net proceeds from sale or disposition of property and other
$47.5M
$12.0M
$8.3M
Investments
($3.1M)
($3.4M)
($1.9M)
Net cash used in investing activities
($913.7M)
($294.8M)
($117.9M)
Issuance of long-term related-party notes, net
$0
$0
$205.3M
Issuance of long-term debt
$500.0M
$0
$700.0M
Repayment of long-term debt
($8.8M)
($7.0M)
($3.7M)
Debt issuance costs
($11.1M)
$0
($16.6M)
Tax withholding on stock-based compensation
($2.7M)
($1.7M)
—
Net transfers to Centennial
$0
$0
($850.6M)
Net cash provided by (used in) financing activities
$477.5M
($8.7M)
$34.4M
Increase (decrease) in cash, cash equivalents and restricted cash
($157.7M)
$18.8M
$252.2M
Cash, cash equivalents and restricted cash - beginning of year
$281.1M
$262.3M
$10.1M
Cash, cash equivalents and restricted cash - end of year
$123.4M
$281.1M
$262.3M
Knife River Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net loss
($35.3M)
($79.2M)
$125.0M
($18.1M)
Depreciation, depletion and amortization
$108.5M
$52.1M
$142.4M
$89.0M
Deferred income taxes
$257.0K
($4.2M)
$6.6M
($133.0K)
Provision for credit losses
$729.0K
$901.0K
$1.4M
$441.0K
Amortization of debt issuance costs
$2.0M
$979.0K
$2.7M
$1.8M
Employee stock-based compensation costs
$5.4M
$2.9M
$8.5M
$5.7M
Pension and postretirement benefit plan net periodic benefit cost
$928.0K
$464.0K
$1.1M
$714.0K
Unrealized gains on investments
($2.3M)
$760.0K
($2.2M)
($1.1M)
Gains on sales of assets
($2.6M)
($2.0M)
($15.6M)
($12.7M)
Gains on bargain purchases
($235.0K)
$0
($3.5M)
($3.5M)
Equity in earnings of unconsolidated affiliates
($656.0K)
($165.0K)
($227.0K)
($203.0K)
Receivables
($233.2M)
$52.5M
($267.5M)
($177.4M)
Inventories
($66.2M)
($41.1M)
($15.3M)
($59.9M)
Other current assets
($22.5M)
($33.5M)
$3.7M
($18.1M)
Accounts payable
$87.6M
($5.3M)
$72.5M
$36.2M
Other current liabilities
$16.7M
($8.5M)
$16.7M
($15.6M)
Pension and postretirement benefit plan contributions
($278.0K)
($137.0K)
($437.0K)
($287.0K)
Other noncurrent changes
$7.6M
$4.8M
$6.6M
$5.5M
Net cash used in operating activities
($133.6M)
($58.5M)
$82.6M
($167.8M)
Capital expenditures
($150.2M)
($77.3M)
($290.3M)
($228.6M)
Acquisitions, net of cash acquired
($184.4M)
($174.2M)
($528.0M)
($501.9M)
Net proceeds from sale or disposition of property and other
$4.8M
$3.1M
$38.3M
$31.4M
Investments
($2.8M)
($2.6M)
($3.0M)
($2.9M)
Net cash used in investing activities
($332.6M)
($251.1M)
($783.0M)
($701.9M)
Issuance of long-term debt
$461.0M
$270.0M
$520.0M
$683.0M
Repayment of long-term debt
($6.9M)
($2.9M)
($5.9M)
($3.0M)
Debt issuance costs
($3.8M)
$0
($11.1M)
($11.1M)
Tax withholding on stock-based compensation
($5.4M)
($5.4M)
($2.7M)
($2.7M)
Net cash provided by financing activities
$444.8M
$261.6M
$500.4M
$666.3M
Decrease in cash, cash equivalents and restricted cash
($21.4M)
($48.0M)
($200.0M)
($203.5M)
Cash, cash equivalents and restricted cash -- beginning of year
$123.4M
$123.4M
$281.1M
$281.1M
Cash, cash equivalents and restricted cash -- end of period