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Kirby has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 10.26%.
Notably, the Zacks Consensus Estimate for KEX’s second-quarter 2024 earnings has been revised upward by 4.8% in the past 90 days to $1.32 per share. Moreover, the consensus mark implies a 38.95% surge from the year-ago actuals.
Let’s see how things have shaped up for Kirby this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Kirby’s second-quarter 2024 revenues is pegged at $821.73 million, indicating 5.72% growth year over year. The top line is likely to have been aided by revenue growth in both business segments. The company operates via two segments, namely, Marine Transportation, and Distribution and Services.
The Zacks Consensus Estimate for Marine transportation segment revenues is pegged at $469.09 million, indicating a 9.8% increase from the year-ago reported figure. The Zacks Consensus Estimate for Distribution and services revenues is pegged at $352.69 million, indicating a 0.6% rise from the year-ago reported figure.
On the flip side, rising expenses (due to higher costs of sales and operating expenses and an increase in selling, general and administrative expenses) pose a threat to the company's bottom line. Kirby’s liquidity position is also a concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Kirby this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Kirby has an Earnings ESP of 0.00% and a Zacks Rank #1.
Kirby reported first-quarter 2024 earnings of $1.19 per share, which beat the Zacks Consensus Estimate of 97 cents and improved 75% year over year. Total revenues of $808 million surpassed the Zacks Consensus Estimate of $784.4 million and improved 7.6% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on second-quarter 2024 earnings.
EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and declining rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
Copa Holdings (CPA - Free Report) has an Earnings ESP of +1.55% and carries a Zacks Rank #3.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
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Kirby (KEX) to Report Q2 Earnings: What's in the Cards?
Kirby Corporation (KEX - Free Report) is scheduled to report second-quarter 2024 results on Aug 1, before market open.
Kirby has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 10.26%.
Notably, the Zacks Consensus Estimate for KEX’s second-quarter 2024 earnings has been revised upward by 4.8% in the past 90 days to $1.32 per share. Moreover, the consensus mark implies a 38.95% surge from the year-ago actuals.
Let’s see how things have shaped up for Kirby this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Kirby’s second-quarter 2024 revenues is pegged at $821.73 million, indicating 5.72% growth year over year. The top line is likely to have been aided by revenue growth in both business segments. The company operates via two segments, namely, Marine Transportation, and Distribution and Services.
The Zacks Consensus Estimate for Marine transportation segment revenues is pegged at $469.09 million, indicating a 9.8% increase from the year-ago reported figure. The Zacks Consensus Estimate for Distribution and services revenues is pegged at $352.69 million, indicating a 0.6% rise from the year-ago reported figure.
On the flip side, rising expenses (due to higher costs of sales and operating expenses and an increase in selling, general and administrative expenses) pose a threat to the company's bottom line. Kirby’s liquidity position is also a concern.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Kirby this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Kirby has an Earnings ESP of 0.00% and a Zacks Rank #1.
Kirby Corporation Price and EPS Surprise
Kirby Corporation price-eps-surprise | Kirby Corporation Quote
Highlights of Q1
Kirby reported first-quarter 2024 earnings of $1.19 per share, which beat the Zacks Consensus Estimate of 97 cents and improved 75% year over year. Total revenues of $808 million surpassed the Zacks Consensus Estimate of $784.4 million and improved 7.6% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on second-quarter 2024 earnings.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +2.22% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and declining rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
Copa Holdings (CPA - Free Report) has an Earnings ESP of +1.55% and carries a Zacks Rank #3.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar