Kirby Corp Bottom Line Rises In Q2, Beats Estimates
(RTTNews) - Kirby Corp (KEX) revealed a profit for its second quarter that Increases, from last year and beat the Street estimates.
The company's earnings came in at $94.277 million, or $1.67 per share. This compares with $83.854 million, or $1.43 per share, last year.
Analysts on average had expected the company to earn $1.65 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 3.8% to $855.455 million from $824.390 million last year.
Kirby Corp earnings at a glance (GAAP) :
-Earnings: $94.277 Mln. vs. $83.854 Mln. last year. -EPS: $1.67 vs. $1.43 last year. -Revenue: $855.455 Mln vs. $824.390 Mln last year.
Looking ahead, Kirby expects 15 to 25% year-over-year earnings growth for 2025. “However, recent shifts in trade policy have introduced new complexities to near-term planning for us and our customers and have contributed to some softness in areas. These complexities are impacting trade flows and demand including chemicals as well as sourcing for our power generation supply chain,” the company said.
For fiscal 2024, the company had reported a net income of $286.7 million, or $4.91 per share, with adjusted profit of $318.8 million, or $5.46 per share.
KEX was up by 5% at $126 in the pre-market trade on the New York Stock Exchange.
