Knife River Corporation filed a Current Report on Form 8-K with the Securities and Exchange Commission on September 23, 2026. The filing discloses that the company posted presentation materials on its investor relations website on that date. The materials, furnished as Exhibit 99.1, are intended for use by management in meetings with the investment community and other stakeholders.
The presentation outlines the company's key growth strategies and projections. It highlights the benefits of vertical integration, which drives healthy aggregate volumes. The company notes that the population in its operating states is growing approximately twice as fast as in non-operating states. It also points to a significant national need for infrastructure investment and a strong public funding environment, citing that 40% of funds from the Infrastructure Investment and Jobs Act (IIJA) remain unspent as of July 30, 2026.
Management discusses current market dynamics, noting that the second quarter of 2026 experienced headwinds. These include fewer public bid lettings, which increased competition, and adverse weather in Texas, Hawaii, and Alaska. The presentation details the impact of fuel costs, stating that diesel prices increased approximately 40% since early July, which negatively impacted Adjusted EBITDA in the second quarter of 2026 by approximately $8 million to $10 million.
The company outlined specific initiatives to manage through these headwinds, including right-sizing crews and equipment. It also highlighted opportunities in the private construction sector, specifically data centers, semiconductor facilities, and energy infrastructure. The presentation notes that there are approximately 230 data center opportunities in Knife River markets.
Regarding financial performance, the document provides a reconciliation of Adjusted EBITDA for the twelve months ended June 30, 2026. For this period, the company reported revenue of $3.3 billion, net income of $139.9 million, and Adjusted EBITDA of $501.6 million. The company also discussed ongoing acquisitions and organic investments, including the expansion of the Midwest Aggregates plant expected to be completed in 2027.
