Marine transportation service company Kirby (NYSE:KEX) will be reporting earnings this Thursday before market open. Here’s what you need to know.
Kirby missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $785.7 million, down 2.8% year on year. It was a slower quarter for the company, with a miss of analysts’ Distribution and Services revenue estimates and adjusted operating income in line with analysts’ 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 2.8% year on year to $847.4 million, slowing from the 6.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.65 per share.
The majority of analysts covering the company have 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 four times 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. Werner’s revenues decreased 1% year on year, beating analysts’ expectations by 3%, and Saia reported flat revenue, topping estimates by 1.2%. Saia traded up 4% following the results.
Read our full analysis of Werner’s results here and Saia’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 5.5% on average over the last month. Kirby is up 5.7% during the same time and is heading into earnings with an average analyst price target of $131 (compared to the current share price of $119.87).
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