Filing Flows › Knife River (KNF) › Q2 2026 › vs Q2 2025
Knife River (KNF) Q2 2026 vs Q2 2025 (year over year)
Knife River's revenue rose $105M (+13%) from $834M in Q2 2025 to $939M in Q2 2026. The biggest changes: Contracting services +$51.3M (+14%); Construction materials +$38.6M (+8%). Gross margin 17.3% against 18.9% (-1.5 pts).
Knife River, Q2 2026: revenue $939M (+13% year over year), operating margin 8.6%, net earnings $43.9M, operating cash flow −$75.1M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 17.3% | 18.9% | -1.5 pts |
| Operating margin | 8.6% | 10.6% | -1.9 pts |
| Net margin | 4.7% | 6.1% | -1.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Ready-mix concrete | $237M | $206M | $30.8M | +15% |
| Contracting services private-sector | $85.9M | $69.5M | $16.3M | +23% |
| Other | $83.8M | $79.6M | $4.2M | +5% |
| Contracting services | $406M | $355M | $51.3M | +14% |
| Construction materials | $532M | $494M | $38.6M | +8% |
| Revenue | $939M | $834M | $105M | +13% |
| Gross profit | $163M | $157M | $5.5M | +4% |
| Cost of revenue | $776M | $677M | $99.3M | +15% |
| Operating profit | $81.1M | $88.1M | −$7.0M | -8% |
| Operating expenses | $81.7M | $69.2M | $12.5M | +18% |
| Pre-tax earnings | $59.8M | $67.9M | −$8.1M | -12% |
| Other expense, net | $21.3M | $20.1M | $1.1M | +6% |
| Net earnings | $43.9M | $50.6M | −$6.7M | -13% |
| Income tax | $16.0M | $17.3M | −$1.4M | -8% |
| Operating cash sources | $178M | $146M | $31.6M | +22% |
| Depreciation & amortization | $56.4M | $50.2M | $6.2M | +12% |
| Share-based compensation | $2.6M | $2.9M | −$313K | -11% |
| Cash used in operations | $75.1M | $42.6M | $32.5M | +76% |
| Working capital & other | $178M | $146M | $31.6M | +22% |
Questions
How much did Knife River's revenue grow year over year in Q2 2026?
Knife River's revenue rose $105M (+13%) from $834M in Q2 2025 to $939M in Q2 2026.
What drove Knife River's revenue change in Q2 2026?
Contracting services +$51.3M (+14%); Construction materials +$38.6M (+8%).