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HOUSTON -On Thursday, Kirby Corporation (NYSE:KEX) reported second quarter earnings that slightly exceeded analyst expectations, with the company posting solid performance across its marine transportation and distribution services segments.
The company’s shares moved up 0.01% in after hours trading following the announcement.
The Houston-based tank barge operator reported earnings of $1.67 per share for the second quarter, edging past the analyst estimate of $1.66. Revenue came in at $855.45 million, also surpassing the consensus estimate of $852.51 million.
Kirby’s second quarter earnings represented a 17% increase from the $1.43 per share reported in the same period last year, while revenue grew 3.8% YoY from $824.4 million.
"Kirby delivered another solid quarter, with strong performance across both marine transportation and distribution and services," said David Grzebinski, Kirby’s Chief Executive Officer. "Our teams executed well in a dynamic environment, and we continued to benefit from healthy customer demand, disciplined pricing, and operational focus."
The company’s inland marine transportation segment maintained steady market conditions with barge utilization in the low to mid-90% range. Spot market prices increased sequentially, helping drive operating margins to the low 20% range. In the coastal marine segment, strong market fundamentals pushed operating margins to the high teens.
Kirby’s distribution and services segment saw revenue increase to $362.9 million from $339.6 million a year earlier, with particularly strong performance in power generation, where revenue jumped 31% YoY.
Looking ahead, the company maintained its full-year guidance of 15-25% earnings growth for 2025, though Grzebinski noted that recent shifts in trade policy have introduced new complexities that could impact performance.
"If the current softness persists, we will likely be closer to the lower end of our prior full year EPS growth guidance," Grzebinski said.
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