Welcome to our dedicated page for Kirby news (Ticker: KEX), a resource for investors and traders seeking the latest updates and insights on Kirby stock.
Kirby Corporation reports news on its marine transportation and distribution and services businesses. The company operates tank barges and towing vessels that move bulk liquid products across U.S. inland waterways and coastal markets, with updates commonly addressing utilization, pricing, margins, fleet acquisitions and operating conditions in inland and coastal marine transportation.
Kirby’s announcements also cover aftermarket service and replacement parts for engines, transmissions, reduction gears and power generation equipment used in oil and gas and commercial and industrial applications. Recurring company developments include quarterly results, earnings outlooks, power generation demand, debt and capital allocation, share repurchase activity and board governance changes.
Kirby Corporation (KEX) reported Q3 2020 earnings of $0.46 per share, down from $0.80 in Q3 2019. Total revenues fell to $496.6 million, compared to $666.8 million last year. Strong cash flow from operations was evident with $118 million generated, alongside an expected FY2020 free cash flow of $300 to $350 million. The company's marine transportation segment faced challenges due to low demand and hurricanes, contributing to reduced barge utilization. Despite improving activity in distribution and services, overall revenues dropped significantly, and the outlook remains cautious amid ongoing economic uncertainty.
Kirby Corporation (KEX) will announce its 2020 third quarter results on October 29, 2020, at 6:00 a.m. CDT. A conference call will follow at 7:30 a.m. CDT, accessible via its Investor Relations website. The Q3 press release and a Form 8-K will be posted before the call. Kirby is the largest domestic tank barge operator in the U.S., transporting various bulk liquid products and participating in the transportation of dry-bulk commodities. Additionally, it offers aftermarket services for industrial equipment and rents out essential machinery.
Kirby Corporation (NYSE: KEX) announced that its subsidiary, Stewart & Stevenson Healthcare Technologies, received emergency use authorization from the FDA for the Apollo ABVM device during the COVID-19 pandemic. This device is designed for patients requiring mechanical ventilation in emergency situations when traditional ventilators are unavailable. The device can operate a common bag valve mask and is set for high-volume production, with manufacturing facilities located in Oklahoma City and Houston. This authorization marks a significant milestone for the Apollo ABVM program.
Kirby Corporation (NYSE: KEX) will release its 2020 Q2 earnings on July 30, 2020, at 6:00 a.m. CDT, followed by a conference call at 7:30 a.m. CDT. Investors can access the call via Kirby's website or by dialing 866-691-5839 in the U.S. The conference ID is 5595145. A replay will be available for one year post-call. Kirby is the largest domestic tank barge operator in the U.S., specializing in the transportation of bulk liquids, including petrochemicals and refined petroleum products, as well as offering aftermarket services and equipment rentals.
Kirby Corporation (KEX) reported a significant net loss of $248.5 million, translating to a loss of $4.15 per share for Q1 2020, compared to a profit of $44.3 million or $0.74 per share in Q1 2019. Excluding one-time items, earnings per share stood at $0.59. Revenue decreased to $643.9 million from $744.6 million year-over-year, with marine transportation revenues up to $403.3 million, while distribution and services revenue fell sharply to $240.7 million. The company has withdrawn its full-year earnings guidance due to the pandemic and is taking steps to reduce costs and preserve liquidity.