earnings
confidence high
sentiment neutral
materiality 0.70
Kirby Q2 EPS $1.67 flat YoY; revenue up 8%; guidance reaffirmed toward upper end
KIRBY CORP
- Q2 GAAP EPS $1.67 ($89.7M net) vs $1.67 ($94.3M) prior year; revenue $922.4M vs $855.5M (+7.8%).
- Marine transportation revenue $537M (+9% YoY) but operating margin fell to 16.4% from 20.1% on fuel cost headwinds and shipyard activity.
- Distribution & services revenue $385.4M (+6% YoY) driven by power generation (+8% rev, +27% op income) and commercial/industrial (+12% rev).
- Returned $59.7M to shareholders via buybacks in Q2 at avg $142.38; additional $29M in Q3 to date at avg $139.92.
- Full-year EPS growth guidance reaffirmed at 5%-15%; expects results toward upper end; inland marine margins expected high-teens to low-20%.