Kirby Co. projected to post Q2 2023 Earnings of $0.82 Per Share: Zacks Research Notes

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Kirby Corporation ($NYSE:KEX) (KIRBY) is a publicly-traded, Houston-based energy services company that provides marine transportation services and operates a fleet of tankers. Recently, Zacks Research has revised its estimate for Kirby Co’s earnings per share in Q2 2023, projecting a figure of $0.82. Kirby Corporation is well-positioned to benefit from increased demand for marine transportation services in the Gulf of Mexico and other areas. The company has seen increased activity due to rising crude oil prices, as well as increased production and exploration in the offshore oil and gas industry. Kirby Corporation is also focused on expanding their fleet of tankers and other vessels, as well as investing in technology to improve efficiency and reduce costs.

Kirby Corporation is expected to benefit from their diversified operations and well-positioned fleets in the coming quarters. The company is continuing its efforts to increase its presence in offshore oil and gas activities, as well as increasing their investments in technology to improve efficiency and reduce costs. This, along with their focus on providing quality and reliable service, is expected to drive growth and strong earnings performance in Q2 2023.

Earnings

The latest earning report of FY2023 Q1 as of March 31 2023 showed that KIRBY CORPORATION earned 750.44M USD in total revenue, and 40.7M USD in net income. Compared to the previous year, total revenue increased by 22.9%, and net income increased by 133.5%. This is quite an impressive result, especially when considering the fact that KIRBY CORPORATION’s total revenue reached from 496.85M USD to 750.44M USD in the last 3 years. It is likely that KIRBY CORPORATION will continue its strong growth trend in the coming quarters.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Kirby Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Kirby Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Kirby Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Kirby Corporation are shown below. More…

Price History

It was reported on Monday that KIRBY CORPORATION stock opened at $70.1 and closed at $70.9, up by 1.1% from the prior day’s closing price. This news has underlined the positive sentiment that investors have towards the company and its expected future performance. As a result of this news, the company’s stock has been on a steady rise, and investors are encouraged to keep watch over Kirby Corporation as it continues to grow and deliver positive returns. Live Quote…

Analysis

At GoodWhale, we analyzed KIRBY CORPORATION‘s financials and found that it has been classified as ‘rhino’, suggesting that the company has achieved moderate revenue or earnings growth. We believe that this company may be of interest to a wide variety of investors. KIRBY CORPORATION scored highly in our health ratings of 9/10, indicating that it is capable of sustaining future operations in times of crisis. Furthermore, our analysis of the company’s financials revealed that KIRBY CORPORATION is strong in medium asset, growth, profitability and weak in dividend. Overall, KIRBY CORPORATION looks to be a solid investment with a good health score and moderate revenue or earnings growth. Investors looking for stability with a moderate growth rate will be interested in this company. More…

Peers

The company has a strong market position in the United States and is expanding its presence internationally. Kirby’s competitors include Yang Ming Marine Transport Corp, Tallink Grupp AS, and Logistec Corp.

– Yang Ming Marine Transport Corp ($TWSE:2609)

Kang Ming Marine Transport Corp is one of the largest maritime transportation companies in the world with a market capitalization of 213.02 billion as of 2022. The company has a diversified fleet of over 500 vessels that provide service to major ports and terminals across the globe. Kang Ming also operates one of the largest container shipping fleets in the world with a capacity of over 5 million TEU. The company’s return on equity (ROE) is 62.35% indicating that it is a profitable and efficient organization.

– Tallink Grupp AS ($LTS:0NY4)

Tallink Grupp AS is a leading provider of passenger and cargo transportation services in the Baltic Sea region. The company operates a fleet of 22 vessels and employs over 3,500 people. The company has a market cap of $343.53 million and a return on equity of -1.66%. Tallink Grupp AS provides transportation services to millions of passengers and tens of thousands of vehicles each year. The company is headquartered in Estonia and listed on the Nasdaq Baltic Stock Exchange.

– Logistec Corp ($TSX:LGT.A)

Logistec Corp is a leading provider of marine and logistics services. The company has a market cap of 469.01M as of 2022 and a return on equity of 13.95%. Logistec Corp provides a full range of services including container handling, terminal operations, trucking, warehousing, and container shipping. The company also offers a wide range of value-added services such as cargo tracking, customs clearance, and container maintenance.

Summary

Kirby Corporation is a leading provider of marine services, operating in the U.S. Gulf of Mexico and along the East and West Coasts. Zacks Research recently reduced their Q2 2023 earnings estimates for Kirby, expecting a quarterly earnings per share of $0.82. Investors should consider the company’s financials, competitive advantages, and long-term business prospects before investing. Kirby has a strong history of consistent cash flow and solid balance sheet, with low debt.

They have a well-diversified customer base and strong market position in its core markets. The company’s long-term prospects remain strong, driven by continued oil and gas production in the U.S., as well as ongoing initiatives to develop new markets.