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Kirby Corp. (KEX)
NYSE:KEX
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.29Last Year’s EPS
$1.04Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -13.52%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Positive
The earnings call reflected strong financial performance with significant increases in earnings per share and revenue growth across marine transportation segments. However, challenges remain in the form of weather delays, supply chain constraints, and softness in certain market areas. Overall, the positive performance and outlook outweigh the challenges.Company Guidance
During the Kirby Corporation 2024 Third Quarter Earnings Call, the company reported strong financial performance with earnings per share increasing by 48% year-over-year to $1.55, and total revenues rising by 9%. The Marine Transportation segment saw revenues of $486 million, up 13% from the previous year, with inland revenues increasing 11% and coastal revenues growing 23% year-over-year. Barge utilization rates were high, running in the 90% range for inland and mid- to high 90% for coastal, while inland margins improved by 350 basis points year-over-year. The Distribution and Services segment experienced a 3% revenue increase, with operating income down due to a mixed demand environment. Kirby generated over $130 million in free cash flow, which was used to pay down $70 million in debt and repurchase $56 million in stock. Looking forward, Kirby expects continued positive market dynamics and plans capital expenditures between $325 million and $355 million for the year, aiming for $300 million to $350 million in free cash flow.Earnings Per Share Increase
Third quarter earnings per share increased to $1.55, up from $1.05 in the same quarter last year, marking a 48% year-over-year increase.
Revenue Growth
Total revenues for the quarter increased by 9% year-over-year, with inland marine revenues up 11% and coastal revenues up 23%.
Free Cash Flow Generation
Generated over $130 million of free cash flow in the quarter, used to pay down $70 million in debt and buy back $56 million in stock.
Inland Marine Transportation Performance
Inland marine transportation margins improved by 350 basis points year-over-year, with utilization rates in the 90% range.
Positive Power Generation Orders
Strong growth in power generation orders, with industrial end market revenues up 61% year-over-year, significantly adding to backlog.
Coastal Marine Market Fundamentals
High contract pricing leading to 23% year-over-year revenue growth, with operating margins in the mid-teens.
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KEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KEX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $123.05 | $115.59 | -6.06% |
| Aug 01, 2024 | $122.88 | $113.70 | -7.47% |
| Apr 25, 2024 | $101.05 | $112.16 | +10.99% |
| Feb 01, 2024 | $78.66 | $82.40 | +4.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kirby Corp. (KEX) report earnings?
Kirby Corp. (KEX) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Kirby Corp. (KEX) earnings time?
Kirby Corp. (KEX) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KEX EPS forecast?
KEX EPS forecast for the fiscal quarter 2024 (Q4) is $1.29.
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