Knife River (KNF) Q4 FY2022 earnings: revenue $538 million

Knife River Corp. (KNF) reported revenue of $538 million for Q4 FY2022, the quarter ended 31 December 2022. Net income was $18 million. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue

$538 million

-44.9% on the quarter

Q1 FY2022Q4 FY2022

Operating margin

6.6%

Q1 FY2022Q4 FY2022

Net income

$18 million

-81.9% on the quarter

Q1 FY2022Q4 FY2022

Diluted EPS

n/a

Q1 FY2022Q4 FY2022

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

Income statement (profit and loss)

$ million	Q4 FY2022	Q3 FY2022	A year earlier	On the quarter
Revenue	538	975	n/a	-44.9%
Cost of revenue	466	791	n/a	-41.1%
Gross profit	72.0	184	n/a	-61.0%
Gross margin	13.4%	18.9%	n/a
Selling, general and administrative	36.4	41.6	n/a	-12.5%
Operating income	35.6	143	n/a	-75.1%
Operating margin	6.6%	14.7%	n/a
Interest expense	8.6	8.8	n/a	-2.3%
Pre-tax income	27.7	133	n/a	-79.2%
Income tax	9.7	33.2	n/a	-70.9%
Effective tax rate	34.9%	25.0%	n/a
Net income	18.0	99.7	n/a	-81.9%
Net margin	3.4%	10.2%	n/a
Diluted EPS	n/a	$1.76	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. 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	Q4 FY2022	Q3 FY2022	A year earlier	On the quarter
Operating cash flow	168	187	n/a	-10.2%
Capital expenditure	56.3	41.6	n/a	+35.4%
Free cash flow	112	146	n/a	-23.3%
Free cash flow margin	20.8%	14.9%	n/a
Cash from investing	-38.0	-39.8	n/a
Cash from financing	-139	-141	n/a
Depreciation and amortisation	29.2	30.4	n/a	-4.0%
Share-based compensation	0.5	0.1	n/a	+252.2%
Diluted shares, weighted	57m	57m	n/a	0.0%
Shares outstanding at period end	80,000	57m	n/a	-99.9%

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	Q4 FY2022	Q3 FY2022	A year earlier	On the quarter
Shareholders' equity	1,029	1,011	n/a	+1.7%
Debt	685	n/a	n/a
Operating lease liabilities	32.7	n/a	n/a
Other liabilities	548	n/a	n/a
Total liabilities and equity	2,294	n/a	n/a
Fixed assets	1,315	n/a	n/a
Goodwill	275	n/a	n/a
Intangible assets	13.4	n/a	n/a
Cash and equivalents	10.1	19.0	n/a	-47.0%
Receivables	210	n/a	n/a
Inventory	323	n/a	n/a
Other assets	148	n/a	n/a
Total assets	2,294	n/a	n/a

Questions

What was Knife River's revenue in Q4 FY2022?

Knife River (KNF) reported revenue of $538 million for Q4 FY2022, the quarter ended 31 December 2022.

How much did Knife River earn in Q4 FY2022?

Net income for Q4 FY2022 was $18 million.

When did Knife River report Q4 FY2022 results?

Knife River filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

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-K for the period ended 31 December 2022, filed 27 February 2024: the filing.