US: Knife River Corporation reported sales of US$354m in the first quarter of 2025, up by 7% year-on-year, driven by higher pricing and contracting services activity. However, it recorded an operating loss of US$82.7m, up by 54%, and a net loss of US$68.7m, up by 44%, amid rises in costs. The company sold 416,000m³ of ready-mix concrete and 3.87Mt of aggregates during the quarter. It also completed its acquisition of Strata Corporation, adding 24 ready-mix plants and long-term aggregate reserves to its Central segment.
The company’s West regional segment reported 5% sales growth, with increased market demand in Hawaii and California. Meanwhile, its Mountain segment’s sales grew by 10%, due mainly to increased contracting services activity in Idaho. Its Central segment also increased sales volumes across all product lines.
Looking ahead to the rest of 2025, Knife River Corporation expects strong performance in public-sector projects, which comprise approximately US$751m (87%) of its US$939m backlog. It anticipates consistent full-year 2025 contracting service margins year-on-year.
