KIRBY CORPORATION Announces 2nd Quarter Earnings Results for FY2023
August 23, 2023
🌥️Earnings Overview
On July 27 2023, KIRBY CORPORATION ($NYSE:KEX) reported its earnings results for the second quarter of FY2023, which ended on June 30 2023. Total revenue was USD 777.2 million, representing a year-over-year increase of 11.4%, and net income for the period was USD 57.4 million, a 101.6% year-over-year increase.
Market Price
The stock opened at $79.8 and closed at $80.4, up by 2.8% from its previous closing price of 78.2. KIRBY CORPORATION‘s strong financial performance was attributed to its robust growth strategies and cost-efficiency initiatives. The company’s ability to diversify its revenue streams and invest in digital technologies has been instrumental in its success.
Additionally, the company’s commitment to sustainability has enabled it to reduce its carbon footprint and generate significant cost savings. The company’s share price was further bolstered by its announcement that it was expanding into new markets and introducing innovative products. This news was met with enthusiasm by investors, and the market responded positively, with KIRBY CORPORATION’s stock continuing to reach new highs. KIRBY CORPORATION is well-positioned for future growth and appears to be on track to meet its goals for FY2023. Its strong financial performance and commitment to innovation will continue to serve as a source of investor confidence and drive long-term value for shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kirby Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 3k | 174.44 | 5.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kirby Corporation. More…
| Operations | Investing | Financing |
| 278.39 | -139.6 | -108.76 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kirby Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.57k | 2.49k | 51.38 |
Key Ratios Snapshot
Some of the financial key ratios for Kirby Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.2% | 14.0% | 9.4% |
| FCF Margin | ROE | ROA |
| 2.3% | 5.7% | 3.2% |
Analysis
As an investor, you want to be sure that you are making the right decision when it comes to investing. GoodWhale can help you analyze KIRBY CORPORATION‘s financials to ensure that your investment is sound. GoodWhale’s Star Chart gives you an overall view of KIRBY CORPORATION’s financials. It shows that the company is strong in assets and weak in dividends. It also indicates that KIRBY CORPORATION is classified as a ‘cheetah’, a company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be an attractive option for investors who are looking for growth but are aware of the risks associated with it. GoodWhale also provides KIRBY CORPORATION with a health score of 9 out of 10. The score considers the company’s cashflows and debt level, which indicates that KIRBY CORPORATION is in a strong position to sustain future operations in times of crisis. Overall, by analyzing KIRBY CORPORATION’s financials with GoodWhale, investors can make better informed decisions when it comes to investing in the 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
Investors may want to take a closer look at KIRBY CORPORATION following the company’s announcement of its second quarter financial results for FY 2023. Total revenue for the period ended June 30, 2023, came in at USD 777.2 million, a year-over-year increase of 11.4%. Net income for the same period was USD 57.4 million, representing a 101.6% year-over-year increase.
The strong performance suggests that the company is continuing to see significant growth and is in a healthy financial position. With the current market conditions in mind, KIRBY CORPORATION looks to be a solid investment opportunity for investors.
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