"Distribution and Services revenue jumped 12% year over year to $386.2M, more than offsetting softness elsewhere. This segment is where Kirby found its growth engine in Q3. Power generation demand remained robust, and that resilience mattered. Without this 12-point lift, the overall revenue story would have looked far less compelling. The company's marine transportation segment, by contrast, edged down slightly to $484.9M from $486.1M a year ago. Operating margins held steady there, but the revenue decline signals the inland barge market is not yet firing on all cylinders."
"Operating cash flow climbed 10.2% year over year to $227.5M, and free cash flow expanded even faster. That strength gave management room to deploy $120M in share buybacks at an average price of $91.30 per share. Capital expenditures fell 12% to $67.2M, showing the company is being selective about where it deploys capital. I'd keep an eye on this metric going forward. It suggests management sees near-term uncertainty and is preserving dry powder rather than committing aggressively to growth investments."
Kirby reported third-quarter results with revenue of $871.2M and EPS of $1.65, modestly above estimates. Distribution and Services revenue rose 12% to $386.2M, driven by robust power generation demand, while marine transportation revenue slipped to $484.9M. Operating income increased to $129.2M and net income rose to $92.5M. Operating cash flow climbed 10.2% to $227.5M and free cash flow remained strong at $160.3M, enabling $120M in share buybacks at an average $91.30. Capital expenditures declined 12% to $67.2M, reflecting selective investment amid near-term uncertainty and preserved liquidity.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]