Overview

* Kirby Q3 revenue of $871.2 mln beats analyst expectations

* EPS for Q3 rises 6% yr/yr to $1.65

* Company repurchased 1.3 mln shares for $120 mln in Q3

Outlook

* Kirby expects inland marine conditions to improve modestly

* Coastal marine fundamentals remain favorable, with steady demand expected

* Kirby forecasts full-year distribution and services revenue up mid-single digits

Result Drivers

* COASTAL MARINE - Strong demand and limited vessel availability led to high barge utilization and improved pricing, boosting operating margins to around 20%

* POWER GENERATION - Revenue increased 56% yr/yr, driven by demand from data centers and prime power customers, enhancing distribution and services margins

* INLAND MARINE - Market softness due to seasonal weather and muted petrochemical activity affected barge utilization and spot market pricing

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $871.20 $845.20

Revenue mln mln (2

Analysts

)

Q3 EPS $1.65

Q3 Net $92.50

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "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 ( KEX ) is $109.00, about 18.7% above its October 28 closing price of $88.64

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)