Kirby Corp. ( (KEX) ) has released its Q4 earnings. Here is a breakdown of the information Kirby Corp. presented to its investors.
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Kirby Corporation, based in Houston, Texas, is a prominent operator in the marine transportation sector, specializing in the transportation of bulk liquid products via tank barges along the Mississippi River System, Gulf Intracoastal Waterway, and U.S. coasts. Additionally, Kirby provides distribution and aftermarket services for industrial engines and equipment.
Kirby Corporation reported its financial results for the fourth quarter and full year of 2024, highlighting adjusted earnings per share of $1.29 for the fourth quarter, an increase from the GAAP earnings of $0.74. The company also noted revenue growth in its marine transportation segment, despite facing seasonal challenges in both marine and distribution services.
Key financial metrics included a slight increase in consolidated quarterly revenue to $802.3 million and a notable rise in full-year net earnings to $286.7 million, up from $222.9 million in 2023. Marine transportation showed strong performance with a 20% operating margin, and the coastal segment benefitted from steady demand and limited vessel availability. The distribution and services segment experienced mixed demand, with power generation showing significant growth.
Looking ahead to 2025, Kirby Corporation anticipates earnings growth of 15% to 25%, driven by improving refinery activity and barge utilization in the inland marine sector. The company remains optimistic about the marine market’s full-year outlook, despite potential near-term weather challenges, and expects continued demand in power generation within its distribution and services segment.
