earnings
confidence high
sentiment positive
materiality 0.70
Kirby Q4 adj EPS $0.27; guides strong 2022 with inland margins in low double-digits
KIRBY CORP
2021-FY EPS reported
-$4.11
revenue$2,246,660,000
- Q4 adjusted EPS $0.27 (GAAP $0.18) on revenues $591M, up 21% YoY; full-year adj EPS $0.56.
- Marine Transportation rev $350.6M, op margin 7.3%; inland utilization mid-high 80%, spot pricing up mid-single digits sequentially.
- Distribution & Services rev $240.7M (oil & gas +110% YoY); acquired energy storage manufacturer; segment margin 3.1%.
- 2022 guidance: cash from ops $400-480M, capex $170-190M; inland rev +10-15% YoY, D&S rev +30-40% YoY.
- Total debt reduced by $305M to $1.16B; debt-to-cap 28.7%; free cash flow expected $210-310M in 2022.