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, 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 (KEX) has appointed Shawn D. Williams as an independent member of its Board of Directors effective July 27, 2021. Mr. Williams brings extensive experience from the chemicals industry, having held leadership positions at companies like Covia Holdings and Nexeo Plastics. His background includes significant roles in industrial and material businesses, including a long tenure at General Electric. Kirby's CEO, David Grzebinski, expressed confidence in Mr. Williams' potential contributions to the company’s strategic future.
Kirby Corporation (KEX) will announce its 2021 second quarter results on July 29, 2021, at 6:00 a.m. CDT, followed by a webcast earnings call at 7:30 a.m. CDT. Investors can access the call via phone or through Kirby's website. Kirby is the largest domestic tank barge operator in the U.S., transporting bulk liquids and offering after-market services for various industrial applications. The financial details will be included in the upcoming press release and Form 8-K, available on Kirby's website.
Kirby Corporation reported a net loss of $3.4 million, or $0.06 per share, for Q1 2021, significantly better than a loss of $347.2 million, or $5.80 per share, from Q1 2020. Revenue fell to $496.9 million from $643.9 million year-over-year. The downturn was attributed to COVID-19 impacts and Winter Storm Uri, which reduced liquids production and volumes. However, barge utilization in the inland marine sector began recovering, reaching the low to mid-80% range, with expectations of further improvement. Free cash flow for 2021 is projected between $230 and $310 million.
Kirby Corporation (NYSE: KEX) will report its 2021 first quarter results on April 29, 2021, at 6:00 a.m. CDT. Following the announcement, there will be a webcast earnings conference call at 7:30 a.m. CDT. Interested investors can access the call via the Investor Relations section of Kirby’s website or join the Q&A session by dialing in. A replay of the call will be available for one year on the same site.
Kirby Corporation (KEX) announced its fourth quarter 2020 earnings report, revealing net earnings of $22.2 million ($0.37 per share), a significant rise from $2.8 million ($0.05 per share) in Q4 2019. However, the full year saw a net loss of $272.5 million ($4.55 per share) compared to a profit of $142.3 million ($2.37 per share) in 2019. Revenue for Q4 2020 was $489.8 million, down from $655.9 million in Q4 2019. The company anticipates gradual improvement in marine transportation demand beginning in Q2 2021, with projected free cash flow between $230 million and $330 million for the year.
Kirby Corporation (KEX) is set to release its 2020 fourth quarter and full year results on January 28, 2021, at 6:00 a.m. CST. An earnings conference call will follow at 7:30 a.m. CST, which will be available via webcast on Kirby’s website. The call will include financial discussions, with details to be published in a Form 8-K prior to the call. Kirby operates the largest domestic tank barge fleet, transporting various bulk liquid products across the U.S.
Kirby Corporation (KEX) reported Q3 2020 earnings of $0.46 per share, down from $0.80 in Q3 2019. Total revenues fell to $496.6 million, compared to $666.8 million last year. Strong cash flow from operations was evident with $118 million generated, alongside an expected FY2020 free cash flow of $300 to $350 million. The company's marine transportation segment faced challenges due to low demand and hurricanes, contributing to reduced barge utilization. Despite improving activity in distribution and services, overall revenues dropped significantly, and the outlook remains cautious amid ongoing economic uncertainty.
Kirby Corporation (KEX) will announce its 2020 third quarter results on October 29, 2020, at 6:00 a.m. CDT. A conference call will follow at 7:30 a.m. CDT, accessible via its Investor Relations website. The Q3 press release and a Form 8-K will be posted before the call. Kirby is the largest domestic tank barge operator in the U.S., transporting various bulk liquid products and participating in the transportation of dry-bulk commodities. Additionally, it offers aftermarket services for industrial equipment and rents out essential machinery.
Kirby Corporation (NYSE: KEX) announced that its subsidiary, Stewart & Stevenson Healthcare Technologies, received emergency use authorization from the FDA for the Apollo ABVM device during the COVID-19 pandemic. This device is designed for patients requiring mechanical ventilation in emergency situations when traditional ventilators are unavailable. The device can operate a common bag valve mask and is set for high-volume production, with manufacturing facilities located in Oklahoma City and Houston. This authorization marks a significant milestone for the Apollo ABVM program.
Kirby Corporation (NYSE: KEX) will release its 2020 Q2 earnings on July 30, 2020, at 6:00 a.m. CDT, followed by a conference call at 7:30 a.m. CDT. Investors can access the call via Kirby's website or by dialing 866-691-5839 in the U.S. The conference ID is 5595145. A replay will be available for one year post-call. Kirby is the largest domestic tank barge operator in the U.S., specializing in the transportation of bulk liquids, including petrochemicals and refined petroleum products, as well as offering aftermarket services and equipment rentals.
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