Every material Form 8-K Knife River filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Knife River reported third quarter 2025 revenue of $1.2 billion, up 9%, and Adjusted EBITDA of $272.8 million, up 11%, driven partly by acquisitions. Net income fell 3% to $143.2 million and diluted earnings per share fell 3% to $2.52. The company narrowed its full-year 2025 revenue and Adjusted EBITDA guidance ranges.
Q3 revenue $1,203.7 million vs. $1,105.3 million a year earlier, up 9%
Q3 net income $143.2 million vs. $148.1 million; diluted EPS $2.52 vs. $2.60
Adjusted EBITDA $272.8 million vs. $245.2 million, up 11%; Mountain segment EBITDA down 15%
2025 guidance narrowed to revenue of $3.1 billion to $3.15 billion and Adjusted EBITDA of $475 million to $500 million
Knife River reported second-quarter 2025 revenue of $833.8 million, up 3%, but net income fell 35% to $50.6 million and diluted EPS fell to $0.89 from $1.37. The company revised full-year 2025 adjusted EBITDA guidance to $475 million to $525 million, citing wet weather, weak demand in Oregon and July flooding in Texas, which matters to shareholders because it reflects a weaker outlook for the year.
Q2 revenue $833.8 million, up 3% from $806.9 million; adjusted EBITDA $140.8 million, down 9%
Net income $50.6 million versus $77.9 million a year earlier; diluted EPS $0.89 versus $1.37
Record backlog of $1.3 billion at June 30, 2025, up nearly 30% from a year earlier
Full-year 2025 adjusted EBITDA guidance set at $475 million to $525 million
Knife River reported a first-quarter 2025 revenue increase of 7% to $353.5 million, but its net loss widened to $68.7 million from $47.6 million a year earlier, and adjusted EBITDA was a loss of $38.0 million. The company closed its acquisition of Strata Corporation, funded partly by a new $500 million Term Loan B, and updated full-year 2025 guidance to revenue of $3.25 billion to $3.45 billion and adjusted EBITDA of $530 million to $580 million.
Q1 2025 revenue was $353.5 million, up 7% from $329.6 million; net loss per share was $1.21 versus $0.84 a year earlier.
Adjusted EBITDA was a loss of $38.0 million, compared with a loss of $17.7 million in Q1 2024; the company described the seasonal first-quarter loss as in line with its expectations.
Full-year 2025 guidance: revenue of $3.25 billion to $3.45 billion and adjusted EBITDA of $530 million to $580 million; the company expects $45 million of EBITDA from Strata for the year.
Knife River completed its acquisition of Strata Corporation for $454 million, which the company says is about 9 times Strata's projected 2025 EBITDA. The company also entered a First Amendment to its credit agreement on March 7, 2025, providing a $500 million revolver, a term loan A of approximately $265 million and a $500 million term loan B, which funded part of the deal.
Purchase price for Strata Corporation was $454 million, about 9 times Strata's projected 2025 EBITDA.
First Amendment dated March 7, 2025 adds a five-year $500 million revolving credit facility and a five-year term loan A of approximately $265 million.
A seven-year $500 million term loan B funded part of the acquisition; letters of credit are available up to $100 million.
Knife River plans to update its consolidated 2025 guidance with its first quarter 2025 results.
Knife River reported fourth-quarter 2024 revenue of $657.2 million, up 2%, and net income of $23.3 million, up 12% from a year earlier, with diluted EPS of $0.41 versus $0.36. For full-year 2024, revenue reached a record $2.9 billion and net income rose 10% to $201.7 million. The company also introduced 2025 revenue guidance of $3.0 billion to $3.2 billion and adjusted EBITDA guidance of $485 million to $535 million, excluding the pending $454 million Strata acquisition.
Q4 2024 net income $23.3 million vs. $20.7 million; diluted EPS $0.41 vs. $0.36
Full-year 2024 revenue $2.9 billion, up 2%; adjusted EBITDA $463.0 million, up 7%
2025 guidance: revenue $3.0 billion to $3.2 billion; adjusted EBITDA $485 million to $535 million
Strata Corporation acquisition for $454 million remains on track, with anticipated closing in the first half of 2025
Knife River Corporation disclosed that Nancy K. Christenson, its Vice President of Administration, informed the company on January 17, 2025 of her decision to retire in April 2025. The filing does not name a successor or describe any financial impact, so the change appears limited in scope for shareholders.
Nancy K. Christenson, Vice President of Administration, informed the company of her retirement decision on January 17, 2025.
Retirement is effective in April 2025.
The filing does not name a successor or disclose financial effects.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Knife River filing is on SEC EDGAR ↗. 8-K briefs of other companies →