• Reported GAAP EPS of $0.57 up 39.02% YoY • Reported revenue of $755.1M up 14.89% YoY • Knife River expects full-year 2026 revenue between $3.3B and $3.5B, and Adjusted EBITDA between $520M and $560M.
Bullish
Knife River delivered strong Q4 2025 revenue and Adjusted EBITDA growth, completed five acquisitions, and holds a record $1B backlog for future profitable growth.
Bearish
Knife River's full-year 2025 net income and EPS decreased 22%, while Energy Services revenue and EBITDA declined, and future backlog margins are expected to be lower.