Knife River Corp (NYSE: KNF) is a construction materials and contracting company that mines, produces, and sells aggregates, asphalt, ready-mix concrete, and related products while also performing construction contracting work. Revenue is generated through both product sales and contracted construction services, with publicly funded work completed for federal and state departments of transportation as well as cities and counties representing a defined customer category the company calls Agency work. Knife River was separated from MDU Resources Group through a distribution of approximately 90 percent of its outstanding shares to MDU Resources stockholders on a pro rata basis of one share of Knife River common stock for every four shares of MDU Resources common stock held. Prior to separation, Knife River operated as a subsidiary under Centennial Energy Holdings, a direct wholly owned subsidiary of MDU Resources. The company files annually on Form 10-K, with the most recent annual report covering the fiscal year ended December 31, 2025, filed February 20, 2026.

Revenue model

Knife River generates revenue through product sales of construction materials including aggregates, asphalt, and ready-mix concrete, and through construction contracting services. Agency work, defined as publicly funded projects for federal and state departments of transportation and local governments, is a disclosed end-market category.

Products and services

Aggregates, asphalt, ready-mix concrete, and construction contracting services. The company also tracks uncompleted contracts as a distinct financial disclosure category (per Note 5 in the FY2025 10-K).

Customers and end markets

Customers include federal and state departments of transportation and local government agencies (classified as Agency work), as well as private-sector construction customers. No customer concentration percentages are supported by the available filing excerpts.

Value-chain role

Vertically integrated producer and contractor: mines raw materials, manufactures construction materials, and performs construction contracting work as end deliverable.

Source: SEC 10-K, filed 2026-02-20

Industry: Mining & Quarrying of Nonmetallic Minerals (No Fuels) Peers: Vulcan Materials Co