Marine transportation service company Kirby (NYSE: KEX) will be reporting earnings this Thursday before market open. Here’s what to look for.
Kirby missed analysts’ revenue expectations last quarter, reporting revenues of $851.8 million, up 6.2% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a slight miss of analysts’ revenue estimates.
Is Kirby a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Kirby’s revenue to grow 4.6% year on year, a reversal from the 2.8% decrease it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Kirby’s peers in the transportation and logistics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Heartland Express’s revenues decreased 19.7% year on year, beating analysts’ expectations by 2.6%, and FedEx reported revenues up 8.3%, topping estimates by 2.1%. Heartland Express traded up 12.5% following the results while FedEx’s stock price was unchanged.
Read our full analysis of Heartland Express’s results here and FedEx’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 14.1% on average over the last month. Kirby is up 12.5% during the same time and is heading into earnings with an average analyst price target of $154 (compared to the current share price of $150.94).
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