Balance Sheet Knife River Corporation

Equities

KNF

US4988941047

Construction Materials

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06/08	Transcript : Knife River Corporation, Q2 2024 Earnings Call, Aug 06, 2024
06/08	Knife River's Q2 Earnings, Revenue Increase; Raises 2024 Revenue Outlook	MT

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Published financial data: KNIFE RIVER CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023
Revenues	217.8Cr	222.89Cr	253.47Cr	283.04Cr
Total Revenues	217.8Cr	222.89Cr	253.47Cr	283.04Cr
Cost of Goods Sold, Total	180.74Cr	188.2Cr	217.38Cr	229.14Cr
Gross Profit	37Cr	35Cr	36Cr	54Cr
Selling General & Admin Expenses, Total	16Cr	16Cr	17Cr	23Cr
Other Operating Expenses, Total	16Cr	16Cr	17Cr	23Cr
Operating Income	21Cr	19Cr	19Cr	31Cr
Interest Expense, Total	-2.06Cr	-1.92Cr	-3.01Cr	-5.81Cr
Net Interest Expenses	-2.06Cr	-1.92Cr	-3.01Cr	-5.81Cr
Other Non Operating Income (Expenses)	-1T	11.1L	-53.53L	66.93L
EBT, Excl. Unusual Items	19Cr	17Cr	16Cr	26Cr
Gain (Loss) On Sale Of Investments	25L	14L	-	19L
Asset Writedown	-	-	-	-58L
Other Unusual Items	-	-	-	-1Cr
EBT, Incl. Unusual Items	19Cr	17Cr	16Cr	25Cr
Income Tax Expense	4.74Cr	4.35Cr	4.26Cr	6.24Cr
Earnings From Continuing Operations	15Cr	13Cr	12Cr	18Cr
Net Income to Company	15Cr	13Cr	12Cr	18Cr
Net Income - (IS)	15Cr	13Cr	12Cr	18Cr
Net Income to Common Incl Extra Items	15Cr	13Cr	12Cr	18Cr
Net Income to Common Excl. Extra Items	15Cr	13Cr	12Cr	18Cr
Per Share Items
Net EPS - Basic	1.84T	1.62T	2.05	3.23
Basic EPS - Continuing Operations	1.84T	1.62T	2.05	3.23
Basic Weighted Average Shares Outstanding	80T	80T	5.66Cr	5.66Cr
Net EPS - Diluted	1.84T	1.62T	2.05	3.23
Diluted EPS - Continuing Operations	1.84T	1.62T	2.05	3.23
Diluted Weighted Average Shares Outstanding	80T	80T	5.66Cr	5.67Cr
Normalized Basic EPS	1.5T	1.34T	1.75	2.86
Normalized Diluted EPS	1.5T	1.34T	1.75	2.86
Supplemental Items
EBITDA	30Cr	29Cr	31Cr	43Cr
EBITA	22Cr	19Cr	20Cr	32Cr
EBIT	21Cr	19Cr	19Cr	31Cr
EBITDAR	39Cr	37Cr	39Cr	51Cr
Total Revenues (As Reported)	217.8Cr	222.89Cr	253.47Cr	283.04Cr
Effective Tax Rate - (Ratio)	24.35	25.09	26.82	25.45
Current Domestic Taxes	4.57Cr	1.06Cr	4.05Cr	6.4Cr
Total Current Taxes	4.57Cr	1.06Cr	4.05Cr	6.4Cr
Deferred Domestic Taxes	17.53L	3.29Cr	20.78L	-16.06L
Total Deferred Taxes	17.53L	3.29Cr	20.78L	-16.06L
Normalized Net Income	12Cr	11Cr	9.93Cr	16Cr
Non-Cash Pension Expense	8L	6L	5L	11.08L
Supplemental Operating Expense Items
Net Rental Expense, Total	8.47Cr	7.5Cr	7.39Cr	7.26Cr
Imputed Operating Lease Interest Expense	-	-	2.43Cr	4.63Cr
Imputed Operating Lease Depreciation	-	-	4.96Cr	2.63Cr
Stock-Based Comp., Other (Total)	17.81L	18.52L	12.72L	28.88L
Total Stock-Based Compensation	17.81L	18.52L	12.72L	28.88L

Fiscal Period: December	2020	2021	2022	2023
Assets
Cash And Equivalents	-	1.38Cr	1.01Cr	26Cr
Total Cash And Short Term Investments	-	1.38Cr	1.01Cr	26Cr
Accounts Receivable, Total	-	21Cr	24Cr	29Cr
Other Receivables	-	80.46L	1.6Cr	-
Total Receivables	-	22Cr	26Cr	29Cr
Inventory	-	29Cr	32Cr	32Cr
Prepaid Expenses	-	1.86Cr	1.78Cr	3.75Cr
Total Current Assets	-	54Cr	61Cr	91Cr
Gross Property Plant And Equipment	-	239.78Cr	253.53Cr	262.44Cr
Accumulated Depreciation	-	-109.74Cr	-117.42Cr	-126.47Cr
Net Property Plant And Equipment	-	130.04Cr	136.11Cr	135.98Cr
Long-term Investments	-	3.85Cr	3.67Cr	4.12Cr
Goodwill	-	28Cr	27Cr	27Cr
Other Intangibles, Total	-	1.62Cr	1.34Cr	1.08Cr
Other Long-Term Assets, Total	-	76.26L	-	-
Total Assets	-	218.18Cr	229.43Cr	259.98Cr
Liabilities
Accounts Payable, Total	-	8.26Cr	8.74Cr	11Cr
Accrued Expenses, Total	-	9.45Cr	11Cr	16Cr
Current Portion of Long-Term Debt	-	11Cr	24Cr	70.82L
Current Portion of Leases	-	1.5Cr	1.32Cr	1.29Cr
Unearned Revenue Current, Total	-	3.23Cr	3.98Cr	5.14Cr
Other Current Liabilities	-	2.46Cr	2.47Cr	69L
Total Current Liabilities	-	36Cr	52Cr	35Cr
Long-Term Debt	-	58Cr	45Cr	67Cr
Long-Term Leases	-	3.51Cr	3.27Cr	3.18Cr
Deferred Tax Liability Non Current	-	17Cr	18Cr	17Cr
Other Non Current Liabilities	-	9.2Cr	9.35Cr	11Cr
Total Liabilities	-	122.9Cr	126.57Cr	133.38Cr
Common Stock, Total	-	55Cr	55Cr	62Cr
Retained Earnings	-	43Cr	49Cr	67Cr
Treasury Stock	-	-36.26L	-36.26L	-36.26L
Comprehensive Income and Other	-	-2.45Cr	-1.24Cr	-1.13Cr
Total Common Equity	-	95Cr	102.86Cr	126.6Cr
Total Equity	-	95Cr	102.86Cr	126.6Cr
Total Liabilities And Equity	-	218.18Cr	229.43Cr	259.98Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	80T	80T	80T	5.66Cr
ECS Total Common Shares Outstanding	80T	80T	80T	5.66Cr
Book Value / Share	-	11.91T	12.86T	22.38
Tangible Book Value	-	66Cr	74Cr	98Cr
Tangible Book Value Per Share	-	8.25T	9.26T	17.33
Total Debt	-	73Cr	73Cr	73Cr
Net Debt	-	72Cr	72Cr	46Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	50.18L	53.27L	31.93L
Debt Equivalent Oper. Leases	68Cr	60Cr	59Cr	58Cr
Account Code - Inventory Valuation	-	6	6	6
Inventories - Raw Materials, Total	-	6.85Cr	7.86Cr	6.18Cr
Inventories - Finished Goods, Total	-	20Cr	21Cr	23Cr
Inventories - Others	-	2.73Cr	3.32Cr	3.25Cr
Land - (BS)	-	15Cr	15Cr	15Cr
Buildings, Total	-	15Cr	17Cr	22Cr
Machinery, Total	-	141.43Cr	149.25Cr	159.09Cr
Full Time Employees	-	3.84T	3.8T	4.39T
Accumulated Allowance for Doubtful Accounts (Supple)	-	54.06L	54.77L	61.68L
Order Backlog	67Cr	71Cr	94Cr	66Cr

Fiscal Period: December	2020	2021	2022	2023
Net Income	15Cr	13Cr	12Cr	18Cr
Depreciation & Amortization - CF	8.63Cr	9.84Cr	11Cr	12Cr
Amortization of Goodwill and Intangible Assets - (CF)	33L	26L	28L	52L
Depreciation & Amortization, Total	8.96Cr	10Cr	12Cr	12Cr
Amortization of Deferred Charges, Total - (CF)	4L	4L	5L	31.15L
(Gain) Loss From Sale Of Asset	-61.16L	-66.38L	-1.41Cr	-27T
(Gain) Loss on Sale of Investments - (CF)	-28.44L	-16.32L	25.25L	-22.02L
(Income) Loss On Equity Investments - (CF)	75T	-4L	4L	-3L
Stock-Based Compensation (CF)	17.81L	18.52L	12.72L	28.88L
Provision and Write-off of Bad Debts	11.58L	48T	5L	20.01L
Other Operating Activities, Total	32.55L	3.39Cr	33.84L	-4L
Change In Accounts Receivable	79.02L	1.54Cr	-3.25Cr	-5.48Cr
Change In Inventories	-1.13Cr	-4.24Cr	-3.1Cr	36.54L
Change In Accounts Payable	-1.07Cr	-1.39Cr	1.75Cr	3.31Cr
Change in Other Net Operating Assets	1.18Cr	-3.61Cr	2.49Cr	4.21Cr
Cash from Operations	23Cr	18Cr	21Cr	34Cr
Capital Expenditure	-14Cr	-17Cr	-18Cr	-12Cr
Sale of Property, Plant, and Equipment	82.05L	1.2Cr	2.29Cr	82.84L
Cash Acquisitions	-5.67Cr	-24Cr	17.45L	-
Investment in Marketable and Equity Securities, Total	-15.09L	-8L	-23.39L	-18.9L
Cash from Investing	-19Cr	-40Cr	-16Cr	-12Cr
Short Term Debt Issued, Total	-	-	21Cr	-
Long-Term Debt Issued, Total	-	28Cr	-	91Cr
Total Debt Issued	-	28Cr	21Cr	91Cr
Long-Term Debt Repaid, Total	-24.89L	-2L	-21Cr	-36.53L
Total Debt Repaid	-24.89L	-2L	-21Cr	-36.53L
Other Financing Activities, Total	-4.55Cr	-5.8Cr	-5.6Cr	-87Cr
Cash from Financing	-4.79Cr	22Cr	-5.53Cr	3.44Cr
Net Change in Cash	-13.98L	67.76L	-37.58L	25Cr
Supplemental Items
Cash Interest Paid	1.48Cr	1.91Cr	2.81Cr	-
Cash Income Tax Paid (Refund)	4.1Cr	3.48Cr	2.12Cr	7.67Cr
Levered Free Cash Flow	-	-	58.05L	17Cr
Unlevered Free Cash Flow	-	-	2.41Cr	21Cr
Change In Net Working Capital	-	-	3.82Cr	-90.26L
Net Debt Issued / Repaid	-24.89L	28Cr	7L	90Cr

Fiscal Period: December	2020	2021	2022	2023
Profitability
Return on Assets	-	-	5.43	7.93
Return on Total Capital	-	-	7.05	10.35
Return On Equity %	-	-	11.73	15.94
Return on Common Equity	-	-	11.73	15.94
Margin Analysis
Gross Profit Margin %	17.01	15.57	14.24	19.04
SG&A Margin	7.24	7.04	6.57	8.07
EBITDA Margin %	13.89	13.05	12.31	15.35
EBITA Margin %	9.92	8.64	7.78	11.16
EBIT Margin %	9.77	8.52	7.67	10.97
Income From Continuing Operations Margin %	6.76	5.82	4.59	6.46
Net Income Margin %	6.76	5.82	4.59	6.46
Net Avail. For Common Margin %	6.76	5.82	4.59	6.46
Normalized Net Income Margin	5.52	4.82	3.92	5.72
Levered Free Cash Flow Margin	-	-	0.23	6.09
Unlevered Free Cash Flow Margin	-	-	0.95	7.26
Asset Turnover
Asset Turnover	-	-	1.13	1.16
Fixed Assets Turnover	-	-	1.9	2.08
Receivables Turnover (Average Receivables)	-	-	11.22	10.57
Inventory Turnover (Average Inventory)	-	-	7.07	7.13
Short Term Liquidity
Current Ratio	-	1.52	1.18	2.63
Quick Ratio	-	0.65	0.52	1.6
Operating Cash Flow to Current Liabilities	-	0.51	0.4	0.97
Days Sales Outstanding (Average Receivables)	-	-	32.54	34.52
Days Outstanding Inventory (Average Inventory)	-	-	51.61	51.2
Average Days Payable Outstanding	-	-	14.06	15.56
Cash Conversion Cycle (Average Days)	-	-	70.09	70.17
Long Term Solvency
Total Debt/Equity	-	77.09	71.06	57.37
Total Debt / Total Capital	-	43.53	41.54	36.46
LT Debt/Equity	-	64.15	46.62	55.79
Long-Term Debt / Total Capital	-	36.23	27.25	35.45
Total Liabilities / Total Assets	-	56.33	55.17	51.3
EBIT / Interest Expense	10.34	9.88	6.45	5.35
EBITDA / Interest Expense	14.7	19.04	12.82	8.73
(EBITDA - Capex) / Interest Expense	8.1	9.97	6.9	6.59
Total Debt / EBITDA	-	2.01	1.89	1.43
Net Debt / EBITDA	-	1.97	1.87	0.92
Total Debt / (EBITDA - Capex)	-	3.83	3.52	1.9
Net Debt / (EBITDA - Capex)	-	3.76	3.47	1.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	2.34	13.72	11.66
Gross Profit, 1 Yr. Growth %	-	-6.38	4.02	49.33
EBITDA, 1 Yr. Growth %	-	-3.82	6.86	39.77
EBITA, 1 Yr. Growth %	-	-10.92	1.76	59.57
EBIT, 1 Yr. Growth %	-	-10.77	1.68	60.93
Earnings From Cont. Operations, 1 Yr. Growth %	-	-11.93	-10.43	57.35
Net Income, 1 Yr. Growth %	-	-11.93	-10.43	57.35
Normalized Net Income, 1 Yr. Growth %	-	-10.63	-8.31	65.18
Diluted EPS Before Extra, 1 Yr. Growth %	-	-11.93	-99.87	57.56
Accounts Receivable, 1 Yr. Growth %	-	-	14.55	21.87
Inventory, 1 Yr. Growth %	-	-	10.92	-1.13
Net Property, Plant and Equip., 1 Yr. Growth %	-	-	4.66	-0.1
Total Assets, 1 Yr. Growth %	-	-	5.16	13.32
Tangible Book Value, 1 Yr. Growth %	-	-	12.18	32.42
Common Equity, 1 Yr. Growth %	-	-	7.95	23.08
Cash From Operations, 1 Yr. Growth %	-	-22.02	14.46	61.84
Capital Expenditures, 1 Yr. Growth %	-	28.23	2.26	-30.24
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-	3.35T
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-	780.55
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	7.88	12.69
Gross Profit, 2 Yr. CAGR %	-	-	-1.32	24.63
EBITDA, 2 Yr. CAGR %	-	-	1.3	22.2
EBITA, 2 Yr. CAGR %	-	-	-4.87	27.38
EBIT, 2 Yr. CAGR %	-	-	-4.83	27.89
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-11.18	18.72
Net Income, 2 Yr. CAGR %	-	-	-11.18	18.72
Normalized Net Income, 2 Yr. CAGR %	-	-	-9.7	22.83
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-96.66	18.76
Accounts Receivable, 2 Yr. CAGR %	-	-	-	18.15
Inventory, 2 Yr. CAGR %	-	-	-	4.72
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-	2.26
Total Assets, 2 Yr. CAGR %	-	-	-	9.16
Tangible Book Value, 2 Yr. CAGR %	-	-	-	21.88
Common Equity, 2 Yr. CAGR %	-	-	-	15.27
Cash From Operations, 2 Yr. CAGR %	-	-	-5.52	36.1
Capital Expenditures, 2 Yr. CAGR %	-	-	14.51	-15.54
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	9.13
Gross Profit, 3 Yr. CAGR %	-	-	-	13.3
EBITDA, 3 Yr. CAGR %	-	-	-	12.83
EBITA, 3 Yr. CAGR %	-	-	-	13.48
EBIT, 3 Yr. CAGR %	-	-	-	13.43
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	7.47
Net Income, 3 Yr. CAGR %	-	-	-	7.47
Normalized Net Income, 3 Yr. CAGR %	-	-	-	10.47
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	7.5
Cash From Operations, 3 Yr. CAGR %	-	-	-	13.04
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-2.93