Kirby Stock Price, News & Analysis

Kirby Corporation (KEX) will release its fourth-quarter 2021 results on January 27, 2022, at 6:00 a.m. CST, followed by a conference call at 7:30 a.m. CST. Investors can access the earnings call via Kirby's website or by phone. Kirby is the largest tank barge operator in the U.S., transporting a range of liquids across various waterways and providing equipment rental and after-market services. Financial details will be available through a press release on their site.

Kirby Corporation (NYSE: KEX) will participate in a fireside chat at the Stephens NASH2021 Investment Conference on December 1, 2021, at 4:00 p.m. Eastern in Nashville, Tennessee. Key presenters include David Grzebinski, President and CEO, and Raj Kumar, Executive Vice President and CFO, moderated by Jack Atkins, Managing Director at Stephens. The presentation will be publicly accessible via a webcast, with a replay available for 30 days.

Kirby Corporation (KEX) reported a third-quarter 2021 net loss of $264.7 million, or $(4.41) per share, impacted by a noncash impairment charge of $340.7 million. Adjusted EPS stood at $0.17, with revenues rising to $598.9 million, up from $496.6 million in Q3 2020. Hurricane Ida was estimated to have reduced earnings by $0.08 per share. However, marine transportation showed improvement in October, with barge utilization improving to the high 80% range. The company generated $83 million in net cash from operations and $49 million in free cash flow.

Kirby Corporation (NYSE: KEX) announced the appointment of Raj Kumar as Executive Vice President and Chief Financial Officer, effective November 2021. Kumar succeeds Bill Harvey, who will retire early next year after ensuring a smooth transition. Currently CFO at Dril-Quip, Inc., Kumar has a robust background in corporate finance and leadership roles at various companies, including LyondellBasell and FMC Technologies. Kirby's President, David Grzebinski, expressed confidence in Kumar's capabilities to enhance the company's financial strategies and operations, following Harvey's significant contributions to Kirby's key acquisitions.

Kirby Corporation (KEX) will release its 2021 third quarter results on October 28, 2021, at 6:00 a.m. CDT. An earnings conference call will follow at 7:30 a.m. CDT, accessible via Kirby's Investor Relations website. The financial details will be published in a press release and a Form 8-K prior to the call. Kirby is the largest domestic tank barge operator in the U.S., transporting bulk liquids and providing after-market services and equipment rentals in various industrial markets.

Kirby Corporation (KEX) reported second quarter 2021 net earnings of $10.2 million ($0.17 per share), down from $25 million ($0.42 per share) in 2020. Revenue increased to $559.6 million from $541.2 million year-over-year. Marine transportation saw a 13% sequential revenue increase, driven by improved barge utilization in the low to mid-80% range and better spot market pricing. Distribution and services significantly improved, generating higher revenue and operating income. Free cash flow for 2021 is projected between $250 million and $310 million.

Kirby Corporation (KEX) has appointed Shawn D. Williams as an independent member of its Board of Directors effective July 27, 2021. Mr. Williams brings extensive experience from the chemicals industry, having held leadership positions at companies like Covia Holdings and Nexeo Plastics. His background includes significant roles in industrial and material businesses, including a long tenure at General Electric. Kirby's CEO, David Grzebinski, expressed confidence in Mr. Williams' potential contributions to the company’s strategic future.

Kirby Corporation (KEX) will announce its 2021 second quarter results on July 29, 2021, at 6:00 a.m. CDT, followed by a webcast earnings call at 7:30 a.m. CDT. Investors can access the call via phone or through Kirby's website. Kirby is the largest domestic tank barge operator in the U.S., transporting bulk liquids and offering after-market services for various industrial applications. The financial details will be included in the upcoming press release and Form 8-K, available on Kirby's website.

Kirby Corporation reported a net loss of $3.4 million, or $0.06 per share, for Q1 2021, significantly better than a loss of $347.2 million, or $5.80 per share, from Q1 2020. Revenue fell to $496.9 million from $643.9 million year-over-year. The downturn was attributed to COVID-19 impacts and Winter Storm Uri, which reduced liquids production and volumes. However, barge utilization in the inland marine sector began recovering, reaching the low to mid-80% range, with expectations of further improvement. Free cash flow for 2021 is projected between $230 and $310 million.