Core Insights - Kirby (KEX) reported quarterly earnings of $1.43 per share, exceeding the Zacks Consensus Estimate of $1.32 per share, and showing an increase from $0.95 per share a year ago, resulting in an earnings surprise of 8.33% [1] - The company achieved revenues of $824.39 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.32% and up from $777.25 million year-over-year [2] - Kirby's stock has increased approximately 56.6% year-to-date, significantly outperforming the S&P 500's gain of 15.8% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.45, with expected revenues of $834.95 million, and for the current fiscal year, the EPS estimate is $5.30 on revenues of $3.28 billion [7] - The estimate revisions trend for Kirby is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expectations of outperformance in the near future [6] Industry Context - The Transportation - Shipping industry, to which Kirby belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Another company in the same industry, International Seaways (INSW), is expected to report a year-over-year earnings decline of 19.9% for the quarter ended June 2024, with revenues anticipated to drop 12% from the previous year [9][10]
Kirby (KEX) Beats Q2 Earnings and Revenue Estimates