Marine transportation service company Kirby (NYSE:KEX) will be reporting results tomorrow before market open. Here’s what investors should know.
Kirby met analysts’ revenue expectations last quarter, reporting revenues of $802.3 million, flat year on year. It was a slower quarter for the company, with a miss of analysts’ adjusted operating income estimates and a slight miss of analysts’ EBITDA 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 1.7% year on year to $822 million, slowing from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.28 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 three times over the last two years.
Looking at Kirby’s peers in the transportation and logistics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. ArcBest’s revenues decreased 6.7% year on year, missing analysts’ expectations by 2.7%, and Ryder reported revenues up 1.1%, in line with consensus estimates. Ryder’s stock price was unchanged following the results.
Read our full analysis of ArcBest’s results here and Ryder’s results here.
Investors in the transportation and logistics segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Kirby is down 6.5% during the same time and is heading into earnings with an average analyst price target of $127.17 (compared to the current share price of $95.04).
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