Key Stats for KRF Stock
- Price Change for KRF stock: +16.34%
- KRF Share Price as of Feb. 17: $93.97
- 52-Week High: $104.40
- KRF Stock Price Target: $99.20
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What Happened?
Knife River (KNF) stock moved higher this week after the company reported a strong Q4 2025 and issued upbeat 2026 guidance. Revenue grew about 15 in the fourth quarter, while adjusted EBITDA jumped 47 as margins expanded sharply across aggregates, ready‑mix, and asphalt.
Management credited its Competitive EDGE and PITcrew efficiency programs, which drove better pricing, cost control, and asset utilization. The company also ended the year with a record 1 billion backlog, up roughly 38 year over year, giving investors more confidence in its 2026 outlook.
For the full‑year 2025, Knife River generated around 3.1 billion of revenue, up about 9, and delivered a record gross margin near 19. Public infrastructure spending remained a key tailwind, with about 89 of contracting backlog tied to publicly funded projects such as highways and local roads.
The company completed several bolt‑on acquisitions during 2025, including deals that expand its aggregates and ready‑mix footprint in high‑growth markets like Texas.
Those deals are expected to support mid‑single‑digit volume growth in aggregates and asphalt and mid‑teens volume growth in ready‑mix in 2026.
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What the Market Is Telling Us About KRF Stock
The sharp rally suggests investors are rewarding Knife River’s improving profitability and clearer path to scaling EBITDA. Management’s 2026 guidance calls for revenue between 3.3 and 3.5 billion and adjusted EBITDA of 520 to 560 million, implying margins near 16 at the midpoint, which supports the view that recent margin gains are sustainable in more normal weather.
Knife River’s balance sheet still looks reasonably conservative, with net leverage around 2.2 times EBITDA and ample revolver capacity to keep funding organic projects and bolt‑on deals.
That financial flexibility matters because the company invested nearly 800 million in 2025 on capex and acquisitions, and management has signaled a similar appetite for 2026 if returns stay attractive.
On the demand side, Knife River benefits from multi‑year federal and state infrastructure programs, and management highlighted that state DOT budgets in its footprint are growing faster than the national average, which should help support pricing power and utilization.
Still, investors are monitoring risks like weather volatility, labor and trucking costs, and any slowdown in private construction that could offset public‑sector strength.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
