NYSE$KEX
Kirby Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Kirby's Q2 2023 performance was marked by strong market conditions in inland marine, boosted distribution and services results, and robust cash flow generation.
Kirby Corporation announced net earnings attributable to Kirby for the second quarter ended June 30, 2023, of $57.4 million, or $0.95 per share. Consolidated revenues for the quarter were $777.2 million. The company experienced strong market conditions in inland marine, steady oil and gas demand boosted distribution and services results, and generated strong cash flow from operations.
- Second quarter 2023 earnings per share were $0.95.
- Inland marine experienced strong market conditions with utilization in the low 90% range.
- Steady oil and gas demand boosted distribution and services results.
- Strong cash flow from operations reached $211 million, with free cash flow of $113 million.
Headline financials
Revenue & EPS history
Kirby · Revenue · Quarterly
$777M
Revenue by segment
Kirby · $777M total across 2 segments · Q2 2023
- Marine Transportation$427M—54.9%
- Distribution & Services$350M—45.1%
Forward guidance
Kirby expects improved financial results in the coming quarters, driven by continued strength in the marine market and growing demand for products and services in distribution and services. Despite challenges related to a slowing global economy, higher interest rates, labor constraints, and inflationary pressures, the company remains positive and expects to drive strong cash flow from operations.
Tailwinds
- Continued gradual upward movement in pricing and margins in inland marine.
- Further pricing improvements in the spot market.
- Term contracts are expected to continue to reset higher.
- Favorable oilfield fundamentals and steady demand in commercial and industrial are expected to continue.
- Strong demand for manufacturing, OEM products, parts, and services.
Headwinds
- Slowing global economy.
- Additional economic headwinds due to higher interest rates.
- Labor constraints.
- Inflationary pressures contributing to rising costs.
- Supply chain issues and long lead times are expected to persist in the near-term.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.3%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+3.7%
Avg return
30 days after
46%
31 / 68 earnings
Positive
+15.1%
Q2 2012
Best reaction
-13.6%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.2% | -6.0% | -7.9% | |
| Q4 2025 | -4.7% | -5.8% | +1.3% | |
| Q3 2025 | +13.7% | +17.7% | +28.1% | |
| Q1 2025 | +3.3% | +6.1% | +14.8% | |
| Q4 2024 | +5.2% | +0.3% | -2.2% | |
| Q3 2024 | -6.7% | -6.3% | +2.8% | |
| Q2 2024 | -10.5% | -9.9% | -2.4% | |
| Q1 2024 | +10.8% | +8.0% | +21.1% | |
| Q4 2023 | +6.5% | +7.2% | +11.5% | |
| Q3 2023 | -5.9% | -5.9% | -2.6% | |
| Q2 2023 | +3.6% | +4.1% | +4.8% | |
| Q1 2023 | +7.9% | +9.0% | +10.0% | |
| Q4 2022 | +11.2% | +14.0% | +14.5% | |
| Q3 2022 | -2.6% | -2.2% | -0.4% | |
| Q2 2022 | -4.4% | -4.3% | +3.9% | |
| Q1 2022 | -0.5% | +0.8% | +4.4% | |
| Q4 2021 | +6.4% | +6.2% | +4.1% | |
| Q3 2021 | -5.8% | +0.6% | -2.8% | |
| Q2 2021 | -2.6% | -3.4% | -6.4% | |
| Q1 2021 | -1.8% | +1.2% | +0.8% | |
| Q4 2020 | -0.5% | +11.2% | +22.6% | |
| Q3 2020 | +6.0% | +10.7% | +44.5% | |
| Q2 2020 | +0.7% | -3.7% | -5.4% | |
| Q1 2020 | -3.6% | +4.7% | +11.3% | |
| Q4 2019 | -13.6% | -15.3% | -24.8% | |
| Q3 2019 | -1.0% | -1.1% | +3.0% | |
| Q2 2019 | -1.9% | +1.0% | -9.3% | |
| Q1 2019 | +8.6% | +3.9% | -1.0% | |
| Q4 2018 | +3.6% | +5.4% | +4.0% | |
| Q3 2018 | +7.9% | +6.6% | +3.4% | |
| Q2 2018 | -7.9% | -5.4% | +0.1% | |
| Q1 2018 | +2.7% | +0.7% | +6.4% | |
| Q4 2017 | +3.1% | +3.7% | -0.5% | |
| Q3 2017 | -5.9% | -6.8% | -6.0% | |
| Q2 2017 | -5.2% | -6.9% | -4.9% | |
| Q1 2017 | -2.1% | -3.4% | -8.6% | |
| Q4 2016 | +0.3% | +6.3% | +8.9% | |
| Q3 2016 | +5.3% | +4.6% | +17.0% | |
| Q2 2016 | -8.4% | -9.7% | -12.1% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | -4.3% | — | — | |
| Q3 2015 | +1.7% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | -5.1% | — | — | |
| Q4 2014 | -7.7% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | +8.4% | — | — | |
| Q4 2013 | -2.7% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | -0.7% | — | — | |
| Q1 2013 | -0.0% | — | — | |
| Q4 2012 | +4.8% | — | — | |
| Q3 2012 | -7.4% | — | — | |
| Q2 2012 | +15.1% | — | — | |
| Q1 2012 | +6.2% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q2 2011 | -1.8% | — | — | |
| Q1 2010 | -0.1% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2008 | +3.9% | — | — | |
| Q4 2010 | +3.9% | — | — | |
| Q3 2009 | +3.0% | — | — | |
| Q3 2010 | +3.0% | — | — | |
| Q4 2009 | -2.1% | — | — | |
| Q2 2010 | -2.1% | — | — | |
| Q2 2009 | -2.1% | — | — |
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