Yahoo Finance Kirby (KEX) Q2 Earnings: What To Expect
Marine transportation service company Kirby (NYSE:KEX) will be reporting results tomorrow before market hours. Here's what to expect.
Kirby beat analysts' revenue expectations by 2.5% last quarter, reporting revenues of $808 million, up 7.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates and a decent beat of analysts' Marine Transportation revenue estimates.
Is Kirby a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Kirby's revenue to grow 5.8% year on year to $822.4 million, slowing from the 11.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.32 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Kirby has missed Wall Street's revenue estimates twice over the last two years.
Looking at Kirby's peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Scorpio Tankers delivered year-on-year revenue growth of 14%, meeting analysts' expectations, and Universal Logistics reported revenues up 12%, in line with consensus estimates. Universal Logistics traded down 4.4% following the results.
Read our full analysis of Scorpio Tankers's results here and Universal Logistics's results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 9.4% on average over the last month. Kirby's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $134.2 (compared to the current share price of $120.55).
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