Knife River Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 07:09 am EST
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Knife River Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1,090.37 million compared to USD 975.43 million a year ago. Net income was USD 146.66 million compared to USD 99.66 million a year ago. Basic earnings per share from continuing operations was USD 2.59 compared to USD 1.76 a year ago. Diluted earnings per share from continuing operations was USD 2.58 compared to USD 1.76 a year ago.
For the nine months, revenue was USD 2,183.46 million compared to USD 1,997.21 million a year ago. Net income was USD 162.17 million compared to USD 98.21 million a year ago. Basic earnings per share from continuing operations was USD 2.87 compared to USD 1.74 a year ago. Diluted earnings per share from continuing operations was USD 2.86 compared to USD 1.74 a year ago.
Knife River Corporation is an aggregates-based construction materials and contracting services provider. Its segments include Pacific, Northwest, Mountain, North Central, South and Energy Services. Each geographic segment offers a vertically integrated suite of products and services, including aggregates, ready-mix concrete, asphalt, and contracting services, while the Energy Services segment, which has locations throughout the Companyâs geographic footprint, produces and supplies liquid asphalt and related services, primarily for use in asphalt road construction, and is a supplier to some of the other segments. Through its network of 180 active aggregate sites, 102 ready-mix plants and 56 asphalt plants, it supplies construction materials and contracting services to customers in 14 states. Its construction materials are sold to public and private-sector customers, including federal, state, and municipal governments, as well as industrial, commercial, and residential developers.