Welcome to our dedicated page for Kirby news (Ticker: KEX), a resource for investors and traders seeking the latest updates and insights on Kirby stock.
Kirby Corporation (KEX) maintains industry leadership in marine transportation and bulk liquid cargo solutions across major U.S. waterways. This dedicated news hub provides investors and stakeholders with essential updates on operational developments, strategic initiatives, and market positioning.
Access authoritative information spanning earnings reports, fleet expansions, regulatory compliance updates, and partnership announcements. Our curated collection ensures timely access to press releases and verified news affecting KEX's marine transportation segment and distribution services division.
Key coverage areas: quarterly financial results, coastal route optimizations, environmental initiatives, and technological advancements in barge operations. Bookmark this page for streamlined monitoring of KEX's performance in petrochemical logistics and industrial equipment support services.
Kirby Corporation (KEX) is set to release its 2023 first quarter results on April 27, 2023, at 6:00 a.m. CDT. Following the announcement, an earnings conference call will be held at 7:30 a.m. CDT. Interested participants can pre-register to join the Q&A session via telephone. Kirby, the largest domestic tank barge operator, transports bulk liquids across the U.S. and provides various industrial services, including equipment rental and aftermarket support. For further details, the financial information will be available in the press release and a Form 8-K prior to the call, accessible on Kirby's website.
Kirby Corporation (NYSE: KEX) has appointed Rocky B. Dewbre as an independent member of its Board of Directors, following a cooperation agreement with JCP Investment Management. This expansion increases the board to eleven directors, with nine being independent. Dewbre brings extensive leadership experience in the motor fuels and lubricants distribution sector. The board believes his expertise will contribute to Kirby's growth potential. JCP has expressed confidence in Kirby’s leadership and growth prospects, particularly highlighting ongoing share repurchase plans. The full cooperation agreement details will be filed with the SEC.
Kirby Corporation (KEX) reported a significant increase in net earnings for Q4 2022, reaching $37.3 million or $0.62 per share, compared to $11.0 million or $0.18 per share in Q4 2021. Excluding one-time items, earnings were $0.67 per share. Consolidated revenues rose to $730.2 million, up from $591.3 million year-over-year. The board authorized a $5 million increase in share repurchases, reflecting confidence in growth prospects for 2023, with anticipated cash flow from operations of $480-$580 million. Despite challenges like weather conditions and supply chain issues, the outlook for marine transportation and distribution remains optimistic.
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.
