Reports Q1 revenue $329.6M, consensus $300.98M. “In the first quarter of 2024, we continued to make good progress on our ‘Competitive EDGE’ initiatives, including our pricing strategy, disciplined bidding to target higher-margin work and investing in growth opportunities,” said Knife River President and CEO Brian Gray. “We achieved record revenue for the quarter and continue to see momentum with infrastructure funding as we head into the start of the construction season. A seasonal loss in the first quarter is typical for our business, as construction activity in many of our northern markets doesn’t ramp up until the second quarter. While we historically spend less time in the field in the first quarter, we have been active preparing for the start of the season and investing in strategic growth projects.”
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