Knife River Q2 revenue slightly beats estimates, lifts outlook
KNF•Result drivers
- VOLUME AND CONTRACTING SERVICES GROWTH - Co said double-digit volume and gross profit growth across material product lines and 20% growth in contracting services revenue drove Q2 results
- ACQUISITIONS AND PRICING - Acquisitions and an 8% increase in aggregate pricing contributed to revenue and volume growth, per CEO Brian Gray
- MARGIN PRESSURES - Higher energy costs, delayed project impacts, and the mix and timing of contracting services weighed on adjusted EBITDA and margins
Quarterly results
- U.S. construction materials supplier's Q2 revenue grew 13%, slightly beating analyst expectations
- Q2 adjusted EBITDA missed analyst estimates; net income and EPS declined year-over-year
- Company raised full-year revenue and aggregate volume guidance, citing strong backlog and growth projects
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Slight Beat* | $938.60 mln | $931.43 mln (7 Analysts) |
| Q2 EPS | $0.77 | ||
| Q2 Net Income | $43.90 mln | ||
| Q2 Adjusted EBITDA | Miss | $139.70 mln | $161.74 mln (8 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
