Kirby(KEX)2025-05-01 17:27Financial Performance - Net earnings for Q1 2025 were 1.33 per share, compared to 1.19 per share in Q1 2024, reflecting a 10% increase in earnings per share [2]. - Consolidated revenues for Q1 2025 were 808.0 million in Q1 2024, indicating a decrease of approximately 2.8% year-over-year [2]. - Total revenues for Q1 2025 were 808,022,000 in Q1 2024 [27]. - Net earnings attributable to Kirby increased to 70,068,000 in Q1 2024, representing an increase of 8.7% [27]. - Operating income for the marine transportation segment was 82,983,000 in the previous year, resulting in an operating margin of 18.2% [31]. - Distribution and services revenues decreased to 332,610,000 in Q1 2024, a decline of 6.9% [32]. - EBITDA for Q1 2025 was 162.6 million in Q1 2024, showing a year-over-year increase of approximately 10.5% [15]. - EBITDA for Q1 2025 was 162,587,000 in Q1 2024, reflecting a growth of 7.2% [29]. - Free cash flow for Q1 2025 was negative at 42,300,000 in Q1 2024 [37]. Revenue Segments - Inland marine transportation saw a 50% sequential increase in delay days and a 15% increase year-over-year, impacting operational performance despite barge utilization rates in the low to mid-90% range [4]. - Average spot market rates in the inland market increased in the low single digits sequentially and in the high single-digit range year-over-year, with term contract prices renewing with mid-single digit increases [9]. - Coastal marine revenues decreased by 6% year-over-year, while operating margins were in the high single to low double-digit range, with barge utilization levels in the mid to high-90% range [5][10]. - Distribution and services revenues for Q1 2025 were 332.6 million in Q1 2024, with operating income slightly increasing to 1,098,369,000 in Q1 2025 from 620 million to 280 million to 2.57 in Q1 2025 from 97,250,000 in Q1 2025 [29]. Shareholder Actions - Kirby repurchased 1,258,031 shares at an average price of 124.7 million year-to-date through April 30, 2025 [6]. Future Outlook - For 2025, inland revenues are expected to grow in the mid to high single-digit range, while coastal revenues are anticipated to increase in the high-single to low-double digit range compared to 2024 [16][17].