What Knife River Corporation told the SEC could break it.

As an aggregates, asphalt and ready-mix producer with a large mining and trucking fleet, Knife River's profitability depends on the cost and availability of energy and other production inputs — notably diesel for its fleet and petroleum-derived liquid asphalt — which vary with macroeconomic and commodity-market conditions.

“Production inputs . Cost and availability of energy, labor and other inputs can vary over time based on macroeconomic factors and impact profitability of operations.”

Knife River - Northwest was named by the EPA as a Potentially Responsible Party at the Portland, Oregon Harbor Superfund Site (tied to a commercial property acquired in 1999); the site's remedy is expected to require ~13 years of active remediation costing $1–2 billion across the PRP group, creating uncertain but potentially material environmental cleanup liability.

“One such site is the Portland, Oregon, Harbor Superfund Site where Knife River - Northwest was named as a PRP by the EPA related to a commercial property site acquired in 1999.”

Knife River and its construction customers depend on capital-intensive inputs like cement and steel; imposed and proposed U.S. tariffs could significantly raise the price and lengthen delivery lead times of those raw materials and finished products, increasing its ready-mix and contracting costs and pressuring project economics.

“Imposed and proposed tariffs could significantly increase the prices and delivery lead times on raw materials and finished products that are critical to us and our customers, such as cement and steel, among other things.”