Marine transportation service company Kirby (NYSE: KEX) will be reporting results this Wednesday before the bell. Here’s what to look for.
Kirby beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $855.5 million, up 3.8% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but a slight miss of analysts’ adjusted operating income estimates.
Is Kirby a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Kirby’s revenue to grow 2.4% year on year to $851.2 million, slowing from the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.62 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. FedEx delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 2.7%, and Avis Budget Group reported revenues up 1.1%, topping estimates by 1.8%. FedEx traded up 2.2% following the results.
Read our full analysis of FedEx’s results here and Avis Budget Group’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 3.8% on average over the last month. Kirby is up 5.7% during the same time and is heading into earnings with an average analyst price target of $110.67 (compared to the current share price of $89.25).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
