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Kirby Corporation, headquartered in Houston, Texas, is the largest tank barge operator in the United States. The company specializes in the transportation of bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, all three U.S. coasts, as well as Alaska and Hawaii.
Kirby Corporation operates primarily in two segments: Marine Transportation and Distribution and Services. The Marine Transportation segment is the backbone of the company's revenue, offering marine transportation services through a fleet of tank barges and towing vessels. These vessels transport essential commodities such as petrochemicals, black oil, refined petroleum products, and agricultural chemicals.
The Distribution and Services segment complements the transportation division by providing after-market services. This includes genuine replacement parts for engines, transmissions, reduction gears, and power generation equipment used in various sectors such as oil and gas, and commercial and industrial applications.
Kirby Corporation is well-regarded for its commitment to safety, operational efficiency, and environmental stewardship. Recent achievements include the implementation of advanced navigational technologies and strategic partnerships to enhance service delivery and maintain a competitive edge in the market.
Financially, Kirby Corporation has historically used several performance measures, including EBITDA, to assess its operations. EBITDA is widely recognized as an indicator of financial health and is utilized by rating agencies, analysts, and investors. Kirby also employs non-GAAP financial measures to exclude one-time items, providing a clearer picture of ongoing operational performance.
Investors and stakeholders can find detailed financial information in Kirby’s annual reports and quarterly filings, which include metrics like ton miles, inland marine transportation revenues, and delay days—key indicators of fleet productivity and operational efficiency.
Kirby (KEX) reported fourth quarter 2024 adjusted earnings per share of $1.29, with net earnings of $42.8 million. Consolidated revenues reached $802.3 million, slightly up from $799.2 million in Q4 2023. For the full year 2024, Kirby achieved net earnings of $286.7 million.
The company's inland marine term contracts saw price increases of 6-9% year-over-year, with barge utilization averaging 90%. Coastal marine business maintained strong utilization in the mid to high-90% range, with term contract renewals showing 25%+ year-over-year increases.
During Q4 2024, Kirby repurchased 286,697 shares at an average price of $116.16 for $33.3 million and reduced debt by $105 million. The company projects 15-25% earnings growth for 2025, with expected net cash from operations between $620-720 million and capital spending ranging from $280-320 million.
Kirby (NYSE: KEX) has scheduled its 2024 fourth quarter earnings release for January 30, 2025, at 6:00 a.m. CST, followed by an earnings conference call webcast at 7:30 a.m. CST. Investors can participate in the Q&A session via telephone by pre-registering at Kirby Earnings Call Registration.
Kirby , headquartered in Houston, is the largest domestic tank barge operator in the US, transporting bulk liquid products through the Mississippi River System, Gulf Intracoastal Waterway, and along all three US coasts. The company's operations include transportation of petrochemicals, black oil, refined petroleum products, and agricultural chemicals, as well as dry-bulk commodities in coastwise trade.
Kirby (KEX) reported strong Q3 2024 results with net earnings of $90.0 million or $1.55 per share, up from $63.0 million or $1.05 per share in Q3 2023. Total revenues increased 9% to $831.1 million. Marine transportation showed robust performance with inland operating margins in low 20% range and coastal margins in mid-teens. Inland barge utilization remained around 90%, while coastal utilization reached mid to high-90%. The company generated over $130 million in free cash flow and repurchased 483,335 shares for $55.8 million at an average price of $115.46.
Kirby (NYSE: KEX) reported strong Q2 2024 results with earnings per share of $1.43, up from $0.95 in Q2 2023. Consolidated revenues reached $824.4 million, a 6% increase year-over-year. The company saw continued strong market conditions in both inland and coastal marine transportation, with inland operating margins in the low 20% range and coastal margins improving to the low teens. Kirby's distribution and services segment showed stable demand across markets. The company repurchased 372,265 shares for $43.7 million and closed an acquisition of 13 barges and two high horsepower boats. Kirby expects continued growth, projecting full-year inland revenues to increase by high single to low double digits and coastal revenues to grow in the low double to mid-teens range.
Kirby (NYSE: KEX) will announce its 2024 second quarter financial results on August 1, 2024, at 6:00 a.m. CDT, following which a webcast and earnings conference call will be held at 7:30 a.m. CDT. Interested parties can pre-register for the call to participate in the Q&A session. The webcast will be accessible via the Investor Relations section of Kirby’s website, where it will be available for one year. The financial details will be released in a press release and Form 8-K prior to the call. Kirby, based in Houston, Texas, is the largest U.S. tank barge operator, transporting bulk liquid products and dry-bulk commodities. They also provide aftermarket services and parts for various industrial applications and rent equipment used in diverse markets.
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