Kirby Q2 revenue beats estimates on data center demand

Overview

• Kirby Q2 revenue of $855.5 mln beats analyst expectations, per LSEG data

• EPS for Q2 rises 17% yr/yr to $1.67

• Company repurchased 331,900 shares for $31.2 mln in Q2

Outlook

• Kirby expects 15-25% EPS growth for 2025

• Trade policy shifts may impact Kirby's earnings guidance

• Inland marine barge utilization seen in low 90% range for Q3

• Coastal marine margins expected in mid to high teens

Result Drivers

• INLAND MARINE - Steady customer demand and improved pricing drove operating margins to low 20% range

• COASTAL MARINE - Strong market fundamentals and pricing gains pushed operating margins to high teens

• POWER GENERATION - Revenue increased 31% yr/yr driven by robust demand from data centers and industrial customers

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the marine freight & logistics peer group is "buy."

• Wall Street's median 12-month price target for Kirby Corp is $130.00, about 7.7% above its July 30 closing price of $120.00

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX1l3nF6