{"success":true,"data":{"pressRelease":{"id":"152465","rtpr_id":"nBw7PS4f8a-20260924","ticker":"KNF","exchange":"NYSE","all_tickers":["KNF"],"title":"Knife River Reiterates Focus on Disciplined Execution and Shareholder Value Creation","author":"Business Wire","published_at":"2026-09-24T17:00:00.274Z","article_body":"Knife River Reiterates Focus on Disciplined Execution and Shareholder Value\nCreation\n\nCompany Issues Statement in Response to Starboard\n\nKnife River Corporation (NYSE: KNF) (“Knife River” or the “Company”)\nissued the following statement in response to the letter it received today\nfrom Starboard Value LP and certain of its affiliates (“Starboard”):\n\nThe Knife River Board of Directors (the “Board”) and management team\nwelcome input from shareholders and are always open to constructive dialogue\nin the interest of enhancing shareholder value. The Company first learned of\nStarboard’s investment on September 22, 2026, and will engage with them to\nbetter understand their views.\n\nThe Board and management regularly review all opportunities to create value\nfor shareholders and will continue to act in the best interests of the Company\nand its shareholders. The Board is confident Knife River has the experienced\nleadership and operating discipline required to navigate the current market\nenvironment and capitalize on the opportunities ahead. Since becoming an\nindependent public company in 2023, Knife River has executed a clear strategy,\nsupported by its EDGE initiatives, focused on optimizing pricing, improving\noperational performance and capturing efficiencies to enhance margins and\ndrive profitable growth. Knife River’s vertically integrated platform —\ncombining aggregates, ready-mix concrete, asphalt, liquid asphalt and\ncontracting services — is deliberate and central to how the Company creates\ndurable, long-term value.\n\nThe Company remains focused on margin expansion, operational excellence,\ndisciplined capital allocation, and profitable growth, all with the goal of\nincreasing value creation for shareholders. Knife River looks forward to\ncontinuing to engage constructively with its shareholders as it executes its\nstrategy.\n\nAbout Knife River\n\nKnife River Corporation, a member of the S&P MidCap 400 index, is an\naggregates-based, vertically integrated construction materials and contracting\nservices company. The Company mines aggregates and markets crushed stone,\nsand, gravel and related construction materials, including ready-mix concrete,\nasphalt and other value-added products. Knife River also performs vertically\nintegrated contracting services, specializing in publicly funded DOT projects\nand private projects across the industrial, commercial and residential\nsectors. For more information, visit www.kniferiver.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.kniferiver.com&esheet=54610487&newsitemid=20260924977925&lan=en-US&anchor=www.kniferiver.com&index=1&md5=397ddfe96ce58efcd36dde37cfe35bfe)\n.\n\nCautionary Note Regarding Forward-Looking Statements.\n\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended. Forward-looking\nstatements are all statements other than statements of historical fact,\nincluding without limitation those statements that are identified by the words\n“anticipates,” “estimates,” “expects,” “intends,” “plans,”\n“predicts” and similar expressions, and include statements concerning\nplans, projections, objectives, goals, strategies, future events or\nperformance, and underlying assumptions (many of which are based, in turn,\nupon further assumptions) and other statements that are other than statements\nof historical facts.\n\nForward-looking statements involve risks and uncertainties, which could cause\nactual results or outcomes to differ materially from those expressed. Although\nthe Company believes that its expectations are expressed in good faith and\nbased on reasonable assumptions, such expectations, beliefs or projections may\nnot be achieved or accomplished and changes in such assumptions and factors\ncould cause actual future results to differ materially.\n\nAny forward-looking statement contained in this press release speaks only as\nof the date on which the statement is made, and the Company undertakes no\nobligation to update any forward-looking statement or statements to reflect\nevents or circumstances that occur after the date on which the statement is\nmade or to reflect the occurrence of unanticipated events, except as required\nby law. New factors emerge from time to time, and it is not possible for\nmanagement to predict all the factors, nor can it assess the effect of each\nfactor on the Company’s business or the extent to which any factor, or\ncombination of factors, may cause actual results to differ materially from\nthose contained in any forward-looking statement. All forward-looking\nstatements, whether written or oral and whether made by or on behalf of the\nCompany, are expressly qualified by the risk factors and cautionary statements\nreported in the section entitled “Item 1A. Risk Factors” in Part I of the\nCompany’s 2025 Annual Report on Form 10-K, filed with the United States\nSecurities and Exchange Commission (the “SEC”) on February 20, 2026, and\nsubsequent filings with the SEC.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260924977925/en/\n(https://www.businesswire.com/news/home/20260924977925/en/)\n\nCORPORATE CONTACTS\n\n\n\nIR Contact: Dara Dierks, Vice President of Investor Relations,\nIR@kniferiver.com \n(mailto:IR@kniferiver.com) \n\n\nMedia Contact: Tony Spilde, Vice President of Communications,\nMedia@kniferiver.com (mailto:Media@kniferiver.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw7PS4f8a-20260924","title":"Knife River Reiterates Focus on Disciplined Execution and Shareholder Value Creation","author":"Business Wire","ticker":"KNF","created":"2026-09-24T17:00:00.274Z","tickers":["KNF"],"exchange":"NYSE","article_body":"Knife River Reiterates Focus on Disciplined Execution and Shareholder Value\nCreation\n\nCompany Issues Statement in Response to Starboard\n\nKnife River Corporation (NYSE: KNF) (“Knife River” or the “Company”)\nissued the following statement in response to the letter it received today\nfrom Starboard Value LP and certain of its affiliates (“Starboard”):\n\nThe Knife River Board of Directors (the “Board”) and management team\nwelcome input from shareholders and are always open to constructive dialogue\nin the interest of enhancing shareholder value. The Company first learned of\nStarboard’s investment on September 22, 2026, and will engage with them to\nbetter understand their views.\n\nThe Board and management regularly review all opportunities to create value\nfor shareholders and will continue to act in the best interests of the Company\nand its shareholders. The Board is confident Knife River has the experienced\nleadership and operating discipline required to navigate the current market\nenvironment and capitalize on the opportunities ahead. Since becoming an\nindependent public company in 2023, Knife River has executed a clear strategy,\nsupported by its EDGE initiatives, focused on optimizing pricing, improving\noperational performance and capturing efficiencies to enhance margins and\ndrive profitable growth. Knife River’s vertically integrated platform —\ncombining aggregates, ready-mix concrete, asphalt, liquid asphalt and\ncontracting services — is deliberate and central to how the Company creates\ndurable, long-term value.\n\nThe Company remains focused on margin expansion, operational excellence,\ndisciplined capital allocation, and profitable growth, all with the goal of\nincreasing value creation for shareholders. Knife River looks forward to\ncontinuing to engage constructively with its shareholders as it executes its\nstrategy.\n\nAbout Knife River\n\nKnife River Corporation, a member of the S&P MidCap 400 index, is an\naggregates-based, vertically integrated construction materials and contracting\nservices company. The Company mines aggregates and markets crushed stone,\nsand, gravel and related construction materials, including ready-mix concrete,\nasphalt and other value-added products. Knife River also performs vertically\nintegrated contracting services, specializing in publicly funded DOT projects\nand private projects across the industrial, commercial and residential\nsectors. For more information, visit www.kniferiver.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.kniferiver.com&esheet=54610487&newsitemid=20260924977925&lan=en-US&anchor=www.kniferiver.com&index=1&md5=397ddfe96ce58efcd36dde37cfe35bfe)\n.\n\nCautionary Note Regarding Forward-Looking Statements.\n\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended. Forward-looking\nstatements are all statements other than statements of historical fact,\nincluding without limitation those statements that are identified by the words\n“anticipates,” “estimates,” “expects,” “intends,” “plans,”\n“predicts” and similar expressions, and include statements concerning\nplans, projections, objectives, goals, strategies, future events or\nperformance, and underlying assumptions (many of which are based, in turn,\nupon further assumptions) and other statements that are other than statements\nof historical facts.\n\nForward-looking statements involve risks and uncertainties, which could cause\nactual results or outcomes to differ materially from those expressed. Although\nthe Company believes that its expectations are expressed in good faith and\nbased on reasonable assumptions, such expectations, beliefs or projections may\nnot be achieved or accomplished and changes in such assumptions and factors\ncould cause actual future results to differ materially.\n\nAny forward-looking statement contained in this press release speaks only as\nof the date on which the statement is made, and the Company undertakes no\nobligation to update any forward-looking statement or statements to reflect\nevents or circumstances that occur after the date on which the statement is\nmade or to reflect the occurrence of unanticipated events, except as required\nby law. New factors emerge from time to time, and it is not possible for\nmanagement to predict all the factors, nor can it assess the effect of each\nfactor on the Company’s business or the extent to which any factor, or\ncombination of factors, may cause actual results to differ materially from\nthose contained in any forward-looking statement. All forward-looking\nstatements, whether written or oral and whether made by or on behalf of the\nCompany, are expressly qualified by the risk factors and cautionary statements\nreported in the section entitled “Item 1A. Risk Factors” in Part I of the\nCompany’s 2025 Annual Report on Form 10-K, filed with the United States\nSecurities and Exchange Commission (the “SEC”) on February 20, 2026, and\nsubsequent filings with the SEC.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260924977925/en/\n(https://www.businesswire.com/news/home/20260924977925/en/)\n\nCORPORATE CONTACTS\n\n\n\nIR Contact: Dara Dierks, Vice President of Investor Relations,\nIR@kniferiver.com \n(mailto:IR@kniferiver.com) \n\n\nMedia Contact: Tony Spilde, Vice President of Communications,\nMedia@kniferiver.com (mailto:Media@kniferiver.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-24T17:00:00.325295252Z","server_sent_at_ms":1790269200325},"received_at":"2026-09-24T17:00:00.378Z","source_url":"https://www.businesswire.com/news/home/20260924977925/en/"},"analysis":{"id":"141267","press_release_id":"152465","analysis_json":{"industry":{"label":"Construction Materials","sector":"Materials"},"redFlags":["activist involvement may signal pressure for strategic or portfolio changes","potential proxy fight or operational disruption risk if dialogue stalls"],"eventType":"other","narrative":"Knife River issued a statement responding to a letter from activist investor Starboard Value, whose investment the company first learned of on September 22, 2026.\n\nThe Board said it welcomes shareholder input and will engage with Starboard, while reaffirming confidence in its EDGE strategy and vertically integrated construction materials platform.\n\nNo specific demands or strategic changes were disclosed; the activist stake itself is a potential catalyst for value-unlocking actions.","sentiment":"neutral","agentHooks":{"shouldPost":true,"suggestedAngle":"Starboard stake in Knife River sets up an activist catalyst in construction materials — watch for demands on vertical integration or asset sales."},"keyFigures":{},"quotedText":"The Company first learned of Starboard’s investment on September 22, 2026, and will engage with them to better understand their views.","namedEntities":{"people":[{"name":"Dara Dierks","role":"Vice President of Investor Relations"},{"name":"Tony Spilde","role":"Vice President of Communications"}],"products":[],"companies":[{"name":"Knife River Corporation","ticker":"KNF","relationship":"filer"},{"name":"Starboard Value LP","relationship":"activist investor"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Issuer response to activist investor Starboard Value's letter. No concrete demands, settlement, or strategic change announced yet; potential catalyst if Starboard pushes changes, but this release itself is boilerplate acknowledgment and reiteration of strategy."},"tickerRelevance":{"others":[],"primary":"KNF"},"globalImportance":35,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap (S&P MidCap 400)","eventGravity":"activist-investor-response","eventGravityNote":"no concrete demands disclosed yet; potential follow-on catalyst"}},"event_type":"other","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Knife River issued a statement responding to a letter from activist investor Starboard Value, whose investment the company first learned of on September 22, 2026.\n\nThe Board said it welcomes shareholder input and will engage with Starboard, while reaffirming confidence in its EDGE strategy and vertically integrated construction materials platform.\n\nNo specific demands or strategic changes were disclosed; the activist stake itself is a potential catalyst for value-unlocking actions.","key_figures":{},"named_entities":{"people":[{"name":"Dara Dierks","role":"Vice President of Investor Relations"},{"name":"Tony Spilde","role":"Vice President of Communications"}],"products":[],"companies":[{"name":"Knife River Corporation","ticker":"KNF","relationship":"filer"},{"name":"Starboard Value LP","relationship":"activist investor"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-24T17:00:05.575Z","global_importance":35,"audience_relevance":30,"importance_components":{"tickerTier":"mid-cap (S&P MidCap 400)","eventGravity":"activist-investor-response","eventGravityNote":"no concrete demands disclosed yet; potential follow-on catalyst"}},"durationMs":5184,"modelName":"glm-5.3-flashx"}}