Kirby Earnings: Everything You Must Know Now

Kirby Corporation (NYSE:KEX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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Kirby Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 1.01% to $1 in the quarter versus EPS of $0.99 in the year-earlier quarter.

Revenue: Decreased 1.44% to $558.79 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Kirby Corporation reported adjusted EPS income of $1 per share. By that measure, the company beat the mean analyst estimate of $0.9. It beat the average revenue estimate of $529.71 million.

Quoting Management: Joe Pyne, Kirby’s Chairman and Chief Executive Officer, commented, “We were pleased with our overall first quarter performance, the continued strength of our inland tank barge markets and particularly the improvement in our coastal tank barge markets where we are experiencing consistently improving equipment utilization and pricing. We continue to experience ongoing softness in our land-based diesel engine services market which we anticipate will continue through most of 2013. We are making inroads into transitioning United’s business to a service and remanufacturing model with an emphasis on servicing existing land-based oil service equipment.”

Key Stats (on next page)…

Revenue increased 9.02% from $512.55 million in the previous quarter. EPS increased 6.38% from $0.94 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.02 to a profit $1.05. For the current year, the average estimate has moved up from a profit of $4.13 to a profit of $4.19 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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