Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. for allegedly misleading investors regarding tenant demand and funding commitments for its Project Matador campus, leading to significant financial losses for shareholders [4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased securities from September 28, 2025, to December 11, 2025, alleging that Fermi overstated tenant demand and the reliance on a single tenant's funding for Project Matador [4]. - The lawsuit claims there was a significant risk that the primary tenant would terminate its funding commitment, which ultimately occurred [4]. Group 2: Financial Impact - Fermi began trading on NASDAQ at $21.00 per share on October 1, 2025, but after the announcement of the termination of a $150 million funding agreement on December 12, 2025, the share price dropped by $5.16, or approximately 33.8%, closing at $10.09 [5].

Company Overview - Kirby Corporation (NYSE:KEX) is a prominent player in the marine transportation and diesel engine services sector, operating a large fleet of inland tank barges and towing vessels for bulk liquid product transportation [1] - The company also provides diesel engine services across various industries, including marine, power generation, and industrial, competing with firms like Ingram Barge Company and American Commercial Barge Line [1] Stock Performance and Analyst Ratings - On January 30, 2026, Wolfe Research set a price target of $136 for KEX, indicating a potential price increase of approximately 15.39% from its current price of $117.87 [2] - Despite a downgrade from BTIG Research, which reduced the price target from $140 to $135, the firm maintains a buy rating on KEX, reflecting confidence in the stock's long-term potential [3][6] - Citigroup raised its price target for Kirby from $131 to $145, also assigning a buy rating, while Wall Street Zen upgraded Kirby from a hold to a buy rating on November 1st [3][6] Current Market Data - The current stock price of KEX is $118.27, showing a decrease of 3.19% or $3.90, with trading between a low of $117.33 and a high of $121.42 on the day [4] - Over the past year, KEX has experienced significant volatility, with a high of $132.18 and a low of $79.52, and the company's market capitalization is approximately $6.6 billion [4] - The trading volume for KEX on the NYSE is 109,932 shares, indicating active investor interest in the stock [5]

Core Viewpoint - Kirby Corporation is a significant entity in the marine transportation and diesel engine services sector, operating a large fleet for bulk liquid transportation and providing diesel engine services across various industries [1] Group 1: Stock Ratings and Price Targets - Wolfe Research maintains an "Outperform" rating for Kirby, raising its price target from $134 to $136, indicating confidence in the company's future performance [2] - BTIG Research downgraded its price target for Kirby from $140 to $135, leading to a decline in the stock price, but still maintains a buy rating [3] - Citigroup raised its price target for Kirby from $131 to $145, reflecting optimism about the company's future prospects [4] - Wall Street Zen upgraded Kirby from a hold to a buy rating, while Evercore ISI increased its price objective from $109 to $122, giving the stock an outperform rating [4][6] Group 2: Stock Performance - Kirby's current stock price is $122.17, down approximately 4.65% from its previous close, with a market capitalization of about $6.82 billion [5] - The stock has traded between $115 and $123.50 on the day, and over the past year, it has seen a high of $132.18 and a low of $79.52, indicating significant volatility [5]

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Core Insights - Kirby Corporation reported record earnings for 2025, with strong operational and financial momentum despite seasonal challenges in the fourth quarter [4][3] - The company generated $406 million in free cash flow and returned capital to shareholders through share repurchases and debt reduction [7][3] - Kirby expects steady financial performance in 2026, with projected operating cash flow between $575 million and $675 million [19] Marine Transportation - Marine Transportation revenue for the fourth quarter was $482 million, with operating income of $100 million and operating margins in the low-20% range [1] - Inland marine market conditions improved towards the end of the quarter, with utilization nearing 90% and mixed pricing trends [7][6] - Coastal marine revenue increased by 22% year over year, supported by high utilization rates in the mid- to high-90% range [9][6] Distribution & Services - Distribution & Services revenue was $370 million in the fourth quarter, with operating income of $30 million and an operating margin of 8.1% [11] - Power generation revenue rose 47% year over year, contributing significantly to segment growth, while oil and gas revenues declined by 45% [12][13] - The segment is expected to see flat to slightly higher revenues in 2026, driven by strength in power generation [17] Financial Position - At the end of 2025, Kirby had $79 million in cash and approximately $920 million in total debt, with a debt-to-capital ratio of 21.4% [2] - The company reduced debt by roughly $130 million during the fourth quarter and had total available liquidity of about $542 million [2][7] - Capital expenditures for the fourth quarter were $47 million, with expectations of $220 million to $260 million in 2026 [19] 2026 Outlook - Kirby anticipates inland revenue growth in the low- to mid-single digits for 2026, with utilization expected to average in the low 90% range [15] - Coastal revenue growth is projected to be mid-single-digit, supported by gradual pricing improvements [16] - The company highlighted potential macro factors, such as Venezuelan oil flows and tariff developments, as sources of near-term uncertainty [14]

At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws. [LEARN MORE ABOUT THE INVESTIGATION] What Happened? On January 28, 2025, Gotham City Research short seller report alleged that the Company's reported profitability relies on undisclosed related-party transactions with DriveTime and Bridgecrest. The report claims DriveTime burned over $1 billion in cash while levering up to 20x to 40x EBITDA to subsidize Carvana's e ...

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Beyond Meat, Inc. ("Beyond Meat†or the "Company†) (NASDAQ:BYND) securities during the period of February 27, 2025 through November 11, 2025, inclusive ("the Class Period†). If you suffered a loss on your Beyond Meat investments, you have until March 24, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applicatio. ...

Financial Performance - Fourth quarter net earnings attributable to Kirby were $91.8 million or $1.68 per share, a significant increase from $42.8 million or $0.74 per share in the same quarter of 2024[2] - Full year net earnings attributable to Kirby reached $354.6 million or $6.33 per share, compared to $286.7 million or $4.91 per share in 2024[3] - Adjusted EBITDA for the fourth quarter was $203.1 million, compared to $172.3 million in the fourth quarter of 2024[15] - Operating income for Q4 2025 was $129,673,000, significantly higher than $50,146,000 in Q4 2024, marking a 158.5% increase[26] - Net earnings attributable to Kirby for Q4 2025 were $91,810,000, compared to $42,817,000 in Q4 2024, reflecting a 114.1% increase[28] - Adjusted EBITDA for Q4 2025 was $203,059,000, up from $172,332,000 in Q4 2024, indicating a 17.8% growth[28] - Free cash flow for Q4 2025 was $265,200,000, compared to $150,700,000 in Q4 2024, representing a 76.0% increase[39] Revenue Growth - Consolidated revenues for the fourth quarter of 2025 were $851.8 million, up from $802.3 million in the fourth quarter of 2024[2] - Total revenues for Q4 2025 reached $851,775,000, a 6.2% increase from $802,315,000 in Q4 2024[26] - Marine transportation revenues increased to $481,653,000 in Q4 2025 from $466,776,000 in Q4 2024, representing a 3.8% growth[31] - Distribution and services revenues rose to $370,122,000 in Q4 2025, up 10.3% from $335,539,000 in Q4 2024[33] Operational Metrics - Inland marine barge utilization averaged in the mid to high-80% range during the fourth quarter, with expectations for improvement into the low 90% range in the first quarter of 2026[5] - Power generation revenue increased 10% sequentially and 47% year-over-year, driven by strong order activity and large project wins[5] - Operating margin for Marine transportation improved to 20.8% in Q4 2025 from 18.4% in Q4 2024[31] - Inland marine transportation revenues for Q4 2025 were $379.2 million, resulting in a revenue per ton mile of 10.9 cents[5] Debt and Capital Expenditures - Total debt as of December 31, 2025, was $919.3 million, with a debt-to-capitalization ratio of 21.4%[15] - The debt to capitalization ratio increased to 21.4% in 2025 from 20.7% in 2024[29] - Capital expenditures for Q4 2025 were $47,033,000, down from $96,670,000 in Q4 2024[28] Future Outlook - For 2026, Kirby expects earnings per share to be flat to up 12% year-over-year, supported by stable operations and improving market fundamentals[5] - Total distribution and services revenues are projected to be flat to slightly higher year-over-year, with strength in power generation offsetting lower oil and gas activity[18] Performance Measurement - Kirby evaluates its operating performance using Adjusted EBITDA, which is defined as net earnings before interest, taxes, depreciation, and amortization[1] - Adjusted EBITDA is a key performance measure used in Kirby's incentive bonus plan and is widely accepted by analysts and investors[1] - Kirby uses non-GAAP financial measures to assess performance excluding one-time items, which helps in understanding operating performance over different periods[2] - Free cash flow is defined as net cash from operating activities less capital expenditures, providing insights into the company's liquidity[2] Operational Efficiency - Ton miles measure fleet productivity, indicating the distance a loaded tank barge is moved, with an example of generating 330,000 ton miles[4] - The average number of towboats operated includes both owned and chartered vessels during the reporting period[6] - Delay days measure the lost time incurred by a tow during transit, accounting for various navigational delays[7] Share Repurchase - Kirby repurchased 1,030,729 shares at an average price of $98.53 for a total of $101.6 million in the fourth quarter[5]

Kirby (NYSE:KEX) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Company ParticipantsChristian O'Neil - President and COODavid Grzebinski - CEOKurt Niemietz - VP of Investor RelationsRaj Kumar - EVP and CFOConference Call ParticipantsBen Moore - AnalystGreg Wasikowski - AnalystJonathan Chappell - AnalystKen Hoexter - AnalystReed Seay - AnalystScott Group - AnalystSherif Elmaghrabi - AnalystOperatorToday, and thank you for standing by. Welcome to the Kirby Corporation 2025 fourth quarter earnings conferen ...

Kirby (NYSE:KEX) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Company ParticipantsChristian O'Neil - President and COODavid Grzebinski - CEOKurt Niemietz - VP of Investor RelationsRaj Kumar - EVP and CFOConference Call ParticipantsBen Moore - AnalystGreg Wasikowski - AnalystJonathan Chappell - AnalystKen Hoexter - AnalystReed Seay - AnalystScott Group - AnalystSherif Elmaghrabi - AnalystOperatorToday, and thank you for standing by. Welcome to the Kirby Corporation 2025 fourth quarter earnings conferen ...