Filing Flows › Knife River (KNF) › How it makes money
How Knife River (KNF) makes money
Knife River (KNF) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Contracting services brought in $607M (48%); Ready-mix concrete brought in $270M (21%); Aggregates brought in $250M (20%). Of every dollar of revenue, 23¢ was left as gross profit, 17¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Contracting services | $607M | 47.6% | — | +6% |
| ↳ Contracting services public-sector | $510M | 40.0% | — | +6% |
| ↳ Other | $97.1M | 7.6% | — | +6% |
| Ready-mix concrete | $270M | 21.2% | — | +3% |
| Aggregates | $250M | 19.6% | — | +15% |
| Liquid asphalt | $147M | 11.5% | — | -1% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.3B | 100.0% |
| Cost of revenue | $988M | 77.6% |
| Gross profit | $288M | 22.6% |
| Operating expenses | $73.5M | 5.8% |
| Operating profit | $214M | 16.8% |
| Income tax | $50.8M | 4.0% |
| Net earnings | $138M | 10.8% |
| Operating cash flow | $195M | 15.3% |
| Free cash flow | $136M | 10.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.3B | +6% |
| Q2 2026 | $939M | +13% |
| Q1 2026 | $410M | +16% |
| Q4 2025 | $755M | +15% |
| Q3 2025 | $1.2B | +9% |
| Q2 2025 | $834M | +3% |
| Q1 2025 | $353M | +7% |
From Knife River's 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Knife River make money?
Knife River (KNF) made $1.3B of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Contracting services brought in $607M (48%); Ready-mix concrete brought in $270M (21%); Aggregates brought in $250M (20%). Of every dollar of revenue, 23¢ was left as gross profit, 17¢ was left as operating profit, 11¢ was left as net earnings.
What is Knife River's biggest business?
Contracting services: $607M in the third quarter 2026, 48% of revenue, +6% from a year earlier.
What is Knife River's profit margin?
Net earnings were $138M, 10.8% of revenue, in the third quarter 2026; the operating margin was 16.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.