Welcome to our dedicated page for Kirby Corporation news (Ticker: KEX), a resource for investors and traders seeking the latest updates and insights on Kirby Corporation stock.
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 Corporation (NYSE: KEX) announced the appointment of Susan W. Dio to its Board of Directors, effective January 24, 2023, expanding the board to ten members, nine of whom are independent. Dio brings over 25 years of experience in international refining and oil and gas, previously serving as Chairman and President of BP America. Her expertise in operational strategy and safety is expected to enhance Kirby's business focus on marine transportation and electrification in distribution and services. Dio emphasized her commitment to driving shareholder value as Kirby evolves its strategic priorities.
Kirby Corporation (NYSE: KEX) announced the conclusion of its review of strategic alternatives for its Distribution and Services business. The Board determined that continuing to execute its strategic plan is the best path forward, considering current financial market conditions. Kirby aims to enhance shareholder value through growth in its Marine Transportation and Distribution and Services segments, supported by an investment-grade balance sheet. The company expects strong demand for its electrification products and continued financial improvement throughout 2023.
Kirby Corporation (NYSE: KEX) is set to announce its 2022 fourth quarter results on January 31, 2023, at 6:00 a.m. CDT, with a follow-up earnings conference call at 7:30 a.m. CDT. The press release, along with a Form 8-K, will be available on the company's website before the call. Kirby is a leader in domestic tank barge operations, transporting bulk liquids and providing specialized services and equipment for various industries, including oilfield services, marine, and power generation.
Kirby Corporation (NYSE: KEX) will present at the Stephens NASH2022 Investment Conference on November 16, 2022. The presentation is scheduled for 10:00 a.m. Eastern and will feature Raj Kumar, Executive Vice President and CFO, alongside Kurt Niemietz, VP IR & Treasurer. The conference takes place in Nashville, Tennessee, and attendees can access a live audio webcast of the presentation at Kirby's website.
Kirby is the largest U.S. tank barge operator, transporting various liquid products.
Kirby Corporation (KEX) reported a strong third quarter 2022, achieving net earnings of $39.1 million, or $0.65 per share, reversing a loss of $264.7 million in the same period last year. Total revenues increased by 25% to $745.8 million, driven by growth in both marine transportation and distribution services. Inland marine revenues rose 35%, supported by improved barge utilization and pricing. The distribution segment also saw revenue gains despite supply chain issues. The company anticipates further growth in 2023, while acknowledging potential near-term headwinds from weather and inflation.
Kirby Corporation (KEX) will release its 2022 third quarter results on October 24, 2022, at 6:00 a.m. CDT, followed by an earnings call at 7:30 a.m. CDT. Interested parties can pre-register for the Q&A session via telephone and access the webcast on Kirby's Investor Relations website. Kirby is the largest domestic tank barge operator in the U.S., transporting various bulk liquid products across major waterways. The upcoming announcement will include financial information also available in a Form 8-K prior to the call.
Kirby Corporation (KEX) reported Q2 2022 net earnings of $28.5 million ($0.47/share), rising from $10.2 million ($0.17/share) in Q2 2021. Excluding non-recurring items, earnings were $29.8 million ($0.49/share). Revenue increased to $698 million from $559.6 million YoY. Inland marine transportation showed a 14% sequential revenue rise, driven by higher pricing. Coastal marine achieved profitability with low single-digit margins. Kirby repurchased shares worth $18.1 million. Looking ahead, Kirby anticipates further growth in marine transportation and distribution for H2 2022, despite supply chain constraints.
Kirby Corporation (NYSE: KEX) will announce its 2022 second quarter results on July 28, 2022, at 6:00 a.m. CDT. Following this announcement, an earnings conference call will take place at 7:30 a.m. CDT, accessible through the Investor Relations section of Kirby's website. The financial information to be discussed will also be available in a press release and Form 8-K prior to the call. Kirby is a leading tank barge operator in the U.S., transporting various bulk liquid products and offering services in equipment rental and manufacturing.
Kirby Corporation (KEX) reported a net earnings growth in Q1 2022, achieving $17.4 million or $0.29 per share, compared to a loss of $3.4 million in Q1 2021. Revenues rose to $610.8 million, up from $496.9 million YoY. Despite challenges from the COVID-19 Omicron variant, inland marine conditions improved significantly in March, raising barge utilization above 90%. However, coastal marine faced reduced revenues from exiting Hawaii and coal shipment declines. The company forecasts continued revenue growth for the year, supported by strong demand in distribution and services, though supply chain issues linger.
Kirby Corporation (NYSE: KEX) will release its 2022 first quarter results on April 28, 2022, at 6:00 a.m. CDT. An earnings conference call will follow at 7:30 a.m. CDT, accessible via Kirby's Investor Relations website. Kirby, based in Houston, Texas, is the largest domestic tank barge operator in the U.S., specializing in transporting bulk liquids and providing aftermarket services in various industrial applications. The upcoming call will discuss financial details and future outlooks, providing insights for investors.
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