Marine transportation service company Kirby (NYSE:KEX) will be reporting earnings tomorrow before market open. Here’s what investors should know.
Kirby beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $831.1 million, up 8.7% year on year. It was a strong quarter for the company, with a solid beat of analysts’ Distribution and Services revenue estimates and a decent beat of analysts’ EBITDA estimates.
Is Kirby a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Kirby’s revenue to be flat year on year at $803.7 million, slowing from the 9.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Kirby has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Kirby’s peers in the transportation and logistics segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Union Pacific posted flat year-on-year revenue, missing analysts’ expectations by 0.5%, and FedEx reported flat revenue, falling short of estimates by 0.7%. Union Pacific traded up 5.6% following the results while FedEx’s stock price was unchanged.
Read our full analysis of Union Pacific’s results here and FedEx’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 3.5% on average over the last month. Kirby is up 1.4% during the same time and is heading into earnings with an average analyst price target of $137.17 (compared to the current share price of $107.80).
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