Knife River Corporation announced its financial results for the fourth quarter and full-year ended December 31, 2024, reporting record annual revenue of $2.90 billion. This performance underscores the company's growth trajectory and the effectiveness of its operational strategies.
The company achieved a record adjusted EBITDA of $463.11 million for the full year 2024, with an adjusted EBITDA margin of 16%. This represents a significant 360 basis point improvement in margin compared to 2022, driven by disciplined pricing strategies.
Throughout 2024, Knife River saw robust price increases, with aggregates prices rising 7% and ready-mix prices increasing by 10%. The company's net leverage stood at 1.0x at year-end, reflecting a disciplined capital allocation approach.
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