Filing Flows › Knife River (KNF) › Q2 2026
Knife River (KNF) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Knife River (KNF) reported revenue of $939M for the second quarter 2026 (Q2 2026), +13% from a year earlier and +129% from the quarter before. Operating margin was 8.6%, net earnings $43.9M (4.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $939M | +129% | +13% |
| Gross profit | $163M | — | +4% |
| Operating profit | $81.1M | — | -8% |
| Net earnings | $43.9M | — | -13% |
| Operating cash flow | −$75.1M | — | — |
What changed
Revenue was $938.6M in Q2 2026, up 13% year over year and up 129% from the previous quarter. Construction materials was the largest line at 57% of revenue. Construction materials added $38.6M year over year (up 8%), 37% of the total change.
Gross margin was 17.3%, down 1.5 points from Q2 2025. Operating profit was $81.1M, a 8.6% margin (down 1.9 points year over year). Operating profit fell $7.0M even though revenue rose $104.8M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 18% against revenue growth of 13%. Net earnings were $43.9M, down 13% year over year. The effective tax rate was 26.7%.
Operating cash flow was −$75.1M. Non-cash charges added back $56.4M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $177.9M. Capital expenditures of $72.9M exceeded it, leaving free cash flow of −$147.9M.
Questions
What was Knife River's revenue in the second quarter 2026?
Knife River (KNF) reported revenue of $939M for the second quarter 2026 (Q2 2026), +13% from a year earlier and +129% from the quarter before.
Was Knife River profitable in the second quarter 2026?
Operating profit was $81.1M (8.6% of revenue) and net earnings $43.9M.
Source: Knife River 10-Q on SEC EDGAR.