Knife River (KNF) Q1 FY2022 earnings: revenue $310 million

Knife River Corp. (KNF) reported revenue of $310 million for Q1 FY2022, the quarter ended 31 March 2022. Net income was -$40 million. The figures are the company's own, from the 10-Q it filed with the SEC on 16 May 2023.

Revenue

$310 million

Q1 FY2022Q1 FY2022

Operating margin

-14.4%

Q1 FY2022Q1 FY2022

Net income

-$40 million

Q1 FY2022Q1 FY2022

Diluted EPS

n/a

Q1 FY2022Q1 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q1 FY2022	Quarter before	A year earlier
Revenue	310	n/a	n/a
Cost of revenue	309	n/a	n/a
Gross profit	1.1	n/a	n/a
Gross margin	0.4%	n/a	n/a
Selling, general and administrative	45.7	n/a	n/a
Operating income	-44.6	n/a	n/a
Operating margin	-14.4%	n/a	n/a
Interest expense	5.3	n/a	n/a
Pre-tax income	-51.8	n/a	n/a
Income tax	-11.8	n/a	n/a
Net income	-40.0	n/a	n/a
Net margin	-12.9%	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2022	Quarter before	A year earlier
Operating cash flow	-76.2	n/a	n/a
Capital expenditure	40.8	n/a	n/a
Free cash flow	-117	n/a	n/a
Free cash flow margin	-37.7%	n/a	n/a
Cash from investing	-40.3	n/a	n/a
Cash from financing	115	n/a	n/a
Depreciation and amortisation	28.4	n/a	n/a
Share-based compensation	0.3	n/a	n/a
Diluted shares, weighted	80,000	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2022	Quarter before	A year earlier	On the quarter	On the year	Last 8 quarters
Shareholders' equity	897	n/a	n/a
Cash and equivalents	12.0	n/a	n/a

Questions

What was Knife River's revenue in Q1 FY2022?

Knife River (KNF) reported revenue of $310 million for Q1 FY2022, the quarter ended 31 March 2022.

How much did Knife River earn in Q1 FY2022?

Net loss for Q1 FY2022 was $40 million.

When did Knife River report Q1 FY2022 results?

Knife River filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 16 May 2023.

Quarterly results, the last 19 quarters

	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	310	712	975	538	308	785	1,090	647	330	807	1,105	657	353	834	1,204	755	410	939	1,276
Cost of revenue	309	608	791	466	304	632	821	534	323	631	832	543	363	677	919	610	413	776	988
Gross profit	1.1	103	184	72.0	4.1	153	269	112	6.5	176	273	114	-9.6	157	284	145	-2.8	163	288
Gross margin	0%	15%	19%	13%	1%	19%	25%	17%	2%	22%	25%	17%	-3%	19%	24%	19%	-1%	17%	23%
SG&A	45.7	42.9	41.6	36.4	48.7	59.5	59.2	75.3	60.2	59.5	63.9	70.1	73.1	69.2	69.1	80.1	83.5	81.7	73.5
Operating income	-44.6	60.4	143	35.6	-44.6	93.5	210	37.2	-53.7	117	209	44.0	-82.7	88.1	215	65.2	-86.2	81.1	214
Operating margin	-14%	8%	15%	7%	-14%	12%	19%	6%	-16%	14%	19%	7%	-23%	11%	18%	9%	-21%	9%	17%
Interest expense	5.3	7.4	8.8	8.6	9.5	19.2	15.4	14.1	14.0	13.9	13.9	13.4	15.3	22.3	23.0	21.3	20.7	24.6	24.7
Pre-tax income	-51.8	50.1	133	27.7	-53.2	76.9	195	26.8	-64.0	104	198	33.1	-93.3	67.9	193	45.2	-108	59.8	189
Tax rate	n/a	23%	25%	35%	n/a	26%	25%	23%	n/a	25%	25%	30%	n/a	26%	26%	29%	n/a	27%	27%
Net income	-40.0	38.6	99.7	18.0	-41.3	56.8	147	20.7	-47.6	77.9	148	23.3	-68.7	50.6	143	32.0	-79.2	43.9	138
Net margin	-13%	5%	10%	3%	-13%	7%	13%	3%	-14%	10%	13%	4%	-19%	6%	12%	4%	-19%	5%	11%
Diluted EPS	n/a	$0.68	$1.76	n/a	n/a	$1.00	$2.58	$0.36	-$0.84	$1.37	$2.60	$0.42	-$1.21	$0.89	$2.52	$0.56	-$1.40	$0.77	$2.43
Operating cash flow	-76.2	-71.6	187	168	-79.3	8.9	223	183	-43.2	-46.6	240	172	-125	-42.6	250	196	-58.5	-75.1	195
Capital expenditure	40.8	39.5	41.6	56.3	42.4	24.2	19.9	37.8	43.7	59.9	23.5	45.3	75.0	154	61.7	57.7	77.3	72.9	58.4
Free cash flow	-117	-111	146	112	-122	-15.3	203	145	-86.9	-107	216	127	-200	-196	189	138	-136	-148	136
Shares outstanding	n/a	57m	57m	80,000	n/a	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m	57m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 16 May 2023: the filing.