Knife River Corp. announced financial results for the fourth quarter and full-year ended Dec. 31, 2023. For the three months ended Dec. 31, 2023, Knife River reported consolidated revenue of $646.9 million, a 20% increase from the prior-year period, driven by price increases across all core product lines and an extended construction season throughout its footprint.
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A New Dimension
A Small, Family-Owned Quarry Operation Is Partnering With A Large Dimensional Stone Company, And It Has Resulted In A Unique Addition To The Texas Aggregates Market. By Mark S. Kuhar Central Texas Stone & Aggregate saw a big opportunity and jumped on it. Dimensional stone giant Cold Spring – which operates a quarry on the edge of the Llano Uplift…
Read MoreThe Year in Review
As the Grateful Dead sang, “What a long, strange trip it’s been.” 2023 has been a year of surprises, excitement, progress and unexpected developments. Going into the first part of the year, I would have bet my last two-dollar bill we would see increased aggregates production in 2023. While the final numbers are not in, it is pretty apparent final…
Read MoreKnife River Reports 12% Increase in Revenue
Knife River Corp. announced financial results for the third quarter ended Sept. 30, reporting consolidated revenue of $1,090.4 million, a 12% increase from the prior-year period, led by strong results in each region and double-digit price increases across all core product lines.
Read MoreKnife River Names Van Til President of South Region
Knife River Corp. has named Robert Van Til president of its South Region, which includes aggregate, asphalt, ready-mix concrete and contracting services operations in the Bryan/College Station and Waco markets in Texas. South Region operations also include the Honey Creek quarry, northwest of Austin, Texas.
Read MoreMDU Reports Earnings; Approves Knife River Separation
MDU Resources Group Inc. reported first-quarter earnings on a generally accepted accounting principles (GAAP) basis of $38.3 million, or 19 cents per share, with adjusted earnings of $46.6 million, or 23 cents per share, compared to first quarter 2022 GAAP earnings of $31.7 million, or 16 cents per share. MDU Resources announced on Aug. 4, 2022, its intent to separate…
Read MoreMDU Resources Names Knife River Executive Team
MDU Resources Group Inc.’s board of directors has selected the management team who will lead Knife River Corp., the company’s construction materials subsidiary, effective upon completion of the anticipated separation of Knife River into an independent, publicly traded company. MDU Resources expects to complete the spinoff in the second quarter. Additionally, the board has named Knife River President Brian R. Gray…
Read MoreMDU Construction Materials Business Has Record Year
MDU Resources Group Inc. reported 2022 earnings on a generally accepted accounting principles (GAAP) basis of $367.5 million, or $1.81 per share, with adjusted earnings of $380.2 million, or $1.87 per share, compared to 2021 GAAP earnings of $378.1 million, or $1.87 per share. In the fourth quarter, the company on a GAAP basis earned $117.1 million, or 57 cents…
Read MoreMDU Resources Expects Second Quarter Spinoff of Knife River Corp.
MDU Resources Group Inc. submitted a confidential draft registration statement on Form 10 with the U.S. Securities and Exchange Commission in connection with the planned spinoff of its construction materials business, Knife River Corp. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. MDU Resources had announced on Aug. 4 its intent…
Read MoreGray Named President of Knife River Corp.
The board of directors of MDU Resources Group Inc. named Brian R. Gray president of the company’s wholly owned construction materials subsidiary, Knife River Corp., effective Jan. 1, 2023. David C. Barney will remain Knife River’s chief executive officer. On Aug. 4, MDU Resources announced its intent to separate Knife River into an independent, publicly traded company. The separation is…
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