Kirby(US:KEX)2024-08-01 15:27Financial Performance - 2Q 2024 revenues increased to $824.4 million, a 6% increase compared to $777.2 million in 2Q 2023 and a 2% increase compared to $808.0 million in 1Q 2024[3] - Net earnings attributable to Kirby increased to $83.9 million, a 46% increase compared to $57.4 million in 2Q 2023 and a 20% increase compared to $70.1 million in 1Q 2024[3] - Earnings per share increased to $1.43, a 50% increase compared to $0.95 in 2Q 2023 and a 20% increase compared to $1.19 in 1Q 2024[3] - Strong cash flow from operations of $179 million with free cash flow of $91 million[3] Marine Transportation - Marine transportation revenue increased by 14% year-over-year to $484.8 million from $427.0 million[8] - Marine transportation operating income increased by 48% year-over-year to $94.9 million from $64.3 million[8] - Inland contributed 81% of marine transportation revenues, with barge utilization in the low to mid-90% range[10] - Coastal contributed 19% of marine transportation revenues, with barge utilization in the mid to high-90% range[10] Distribution & Services - Distribution & Services revenue decreased by 3% year-over-year to $339.6 million from $350.3 million, but increased 2% sequentially from $332.6 million[14] - Power generation revenues increased 9% year-over-year[7, 14] - Oil and Gas revenues decreased 33% year-on-year but increased 22% sequentially[15]