Marine transportation service company Kirby (NYSE:KEX) will be announcing earnings results tomorrow morning. Here’s what to look for.
Kirby met analysts’ revenue expectations last quarter, reporting revenues of $824.4 million, up 6.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ operating margin 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 7.7% year on year to $823.8 million, improving from the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.47 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 twice over the last two years.
Looking at Kirby’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. United Parcel Service delivered year-on-year revenue growth of 5.6%, meeting analysts’ expectations, and Covenant Logistics reported flat revenue, falling short of estimates by 2.8%. United Parcel Service traded up 4.7% following the results while Covenant Logistics’s stock price was unchanged.
Read our full analysis of United Parcel Service’s results here and Covenant Logistics’s results here.
Investors in the transportation and logistics segment have had steady hands going into earnings, with share prices flat over the last month. Kirby is up 1.9% during the same time and is heading into earnings with an average analyst price target of $138 (compared to the current share price of $124.78).
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