- Overall revenue for Kirby in Q4 was $802.3 million, showing a slight increase of 0.4% from the previous year, close to the $804.9 million estimate.
- Marine Systems sector revenue increased by 3.1% year-over-year, recording $466.8 million, compared to an estimate of $477.5 million.
- Revenue from Distribution & Services was $335.5 million, reflecting a decrease of 3.2% year-over-year, slightly above the $331.9 million estimate.
- Earnings per share (EPS) were reported at 74 cents, a decrease from $1.04 recorded in the previous year.
- Operating income was significantly down by 46% year-over-year, at $50.1 million, falling short of the $109.3 million estimate.
- The company spent $96.7 million on capital expenditures, a decrease of 24% from the previous year, exceeding the $68.8 million estimate.
- For the full year, Kirby forecasts capital expenditures between $280 million and $320 million, in line with the estimated $282.6 million.
- Barge utilization rates are expected to range from the low to mid-90% for the year, with improvement in pricing as contracts renew.
- Inland revenues are projected to experience mid to high single-digit growth throughout the year.
- Operating margins are expected to increase by an average of 200-300 basis points for the year, despite a slow start in the first quarter.
- The quarter saw stable customer demand with limited availability of large vessels driving significant year-over-year increases in contract renewals and spot market rates.
- The Distribution & Services sector experienced mixed demand, with growth in some areas and delays in others.
- The company’s stock is currently recommended by analysts, with 7 buys and no holds or sells.
Kirby Corp on Smartkarma
Analysts at Baptista Research on Smartkarma have provided insightful coverage of Kirby Corporation, delving into key aspects of the company’s performance and strategies. In a report titled “Kirby Corporation: How Is The Management Encashing The Coastal Business Opportunities? – Major Drivers,” the analysts highlighted Kirby Corporation’s third-quarter 2024 earnings that showcased a mix of positive momentum and ongoing challenges. Revenue saw a significant 9% year-over-year increase, with a notable growth in Marine Transportation and Distribution and Services driving a 48% rise in earnings per share. This performance was attributed to effective market execution and adept handling of adverse weather and supply chain disruptions.
In another report titled “Kirby Corporation: Initiation Of Coverage – How Are They Dealing With Energy and Fuel Market Dynamics? – Major Drivers,” the analysts analyzed Kirby Corporation’s financial results for the second quarter of 2024. The report revealed a substantial increase in earnings per share to $1.43 from $0.95 in the previous year, reflecting a positive trajectory. CEO David Grzebinski and the executive team maintained optimism regarding the steady market fundamentals supporting the company’s Marine Transportation and Distribution and Services segments, despite some challenges. Baptista Research aims to assess various influencing factors on Kirby Corporation’s stock price in the near future, employing a Discounted Cash Flow (DCF) methodology for an independent valuation.
A look at Kirby Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Kirby Corp shows promise for long-term growth. With a high score of 5 in Growth, the company is positioned well for expansion and increasing revenues in the future. This indicates that Kirby Corp has strong potential for developing its business and increasing its market presence over time.
While Kirby Corp excels in Growth, the company’s overall outlook is also supported by solid scores in Value, Resilience, and Momentum. These scores suggest that Kirby Corp is well-managed, financially stable, and has positive market momentum, indicating a favorable long-term outlook for investors considering this stock.
Summary:
Kirby Corporation operates a fleet of inland tank barges, transporting a variety of products including industrial chemicals, petroleum, and agricultural chemicals. Additionally, the company provides services for diesel engines used in marine, power generation, and rail applications.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
