Kirby Earnings: Here’s Why the Stock is Down Now

Kirby Corporation (NYSE:KEX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.44%.

Kirby Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 27.06% to $1.08 in the quarter versus EPS of $0.85 in the year-earlier quarter.

Revenue: Rose 10.17% to $563.91 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Kirby Corporation reported adjusted EPS income of $1.08 per share. By that measure, the company beat the mean analyst estimate of $1.06. It missed the average revenue estimate of $566.44 million.

Quoting Management: Joe Pyne, Kirby’s Chairman and Chief Executive Officer, commented, “Our second quarter results benefited from continued strong demand and favorable pricing in our inland and coastal marine transportation markets. We were also able to manage through the high water and lock closure issues with only an estimated $.03 per share negative impact. Our land-based diesel engine services market remained weak. However, there are signs the cycle has bottomed.”

Key Stats (on next page)…

Revenue increased 0.92% from $558.79 million in the previous quarter. EPS increased 13.68% from $0.95 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.12 and has not changed. For the current year, the average estimate has moved up from a profit of $4.23 to a profit of $4.25 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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