Kirby Q4 EPS $0.62 ($0.67 adj); revenue $730M; 2023 growth outlook

KIRBY CORP

2022-FY EPS reported $2.03 revenue$2,784,754,000

Q4 GAAP EPS $0.62 vs $0.18 YoY; adjusted EPS $0.67 vs $0.27; revenue $730.2M (+23% YoY).
Inland marine utilization 90%+; term contract renewals up low teens; operating margin improved to low teens.
Distribution & services revenue up 28% YoY to $307.4M; oil & gas revenue up 44% YoY; operating margin 5.5%.
2023 guidance: inland marine rev + low double digits; D&S rev +10-20%; cash from ops $480M-$580M; board authorized 5M share buyback increase.
Coastal rev flat expected; margins near break-even due to planned maintenance; barge utilization low-mid 90%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KIRBY CORP reported the 2022 full year results: revenue $2.78 billion, net income $122.3 million, EPS $2.03 per share. Guidance initiated.

Period: the 2022 full year
Revenue: $2.78 billion
Net income: $122.3 million
EPS: $2.03 per share
Guidance: initiated
Result: reported results

Exact text from the filing

For the 2022 full year, Kirby reported net earnings attributable to Kirby of $122.3 million or $2.03 per share, compared with a net loss of ($247.0) million or ($4.11) per share for 2021. Excluding one-time items in both years, 2022 net earnings attributable to Kirby were $126.6 million or $2.10 per share, compared with $33.7 million or $0.56 per share for 2021. Consolidated revenues for 2022 were $2.78 billion compared with $2.25 billion for 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KIRBY CORP reported the fourth quarter ended December 31, 2022 results: revenue $730.2 million, net income $37.3 million, EPS $0.62 per share. Guidance initiated.

Period: the fourth quarter ended December 31, 2022
Revenue: $730.2 million
Net income: $37.3 million
EPS: $0.62 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Kirby Corporation (“Kirby”) (NYSE: KEX) today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2022 of $37.3 million or $0.62 per share, compared with earnings of $11.0 million, or $0.18 per share for the 2021 fourth quarter. Excluding one-time items in both quarters, net earnings attributable to Kirby were $40.3 million or $0.67 per share, compared with earnings of $16.7 million, or $0.27 per share, in the year ago period. Consolidated revenues for the 2022 fourth quarter were $730.2 million compared with $591.3 million in the 2021 fourth quarter.

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Source: SEC EDGAR

accession 0000950170-23-001440

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