Kirby(KEX) ZACKS·2025-05-12 19:15Core Viewpoint - Kirby Corporation's first-quarter 2025 earnings report showed mixed results, with earnings exceeding expectations while revenues fell short, leading to a 4.3% increase in share price since the release [1][2]. Financial Performance - Quarterly earnings were 1.27, and reflecting an 11.7% year-over-year improvement [2]. - Total revenues amounted to 831.4 million, and representing a 2.7% decline year over year [2]. Segmental Performance - Marine Transportation: Revenues were 86.6 million from 309.5 million, down 6.9% year over year, but operating income increased to 22 million [7]. Operating margin rose to 7.3% from 6.6% [7]. - Power Generation Market: Revenues declined 23% year over year due to supply delays, while orders continued to grow [8]. - Commercial and Industrial Market: Revenues and operating income increased by 12% and 23% year over year, respectively [9]. - Oil and Gas Market: Revenues decreased by 18%, but operating income surged by 123% year over year [10]. Balance Sheet and Cash Flow - As of March 31, 2025, Kirby had cash and cash equivalents of 74.4 million at the end of the previous quarter [11]. - The company generated 78.7 million [11]. - Kirby repurchased 1,258,031 shares at an average price of 124.7 million as of April 30, 2025 [11]. 2025 Outlook - For the Marine Transportation segment, inland revenues are expected to grow in the mid-to-high single-digit range, with operating margins anticipated to improve by 200-300 basis points for the full year [12]. - Coastal revenues are projected to increase in the high-single to low-double-digit range, driven by higher pricing [13]. - Distribution and services segment revenues are expected to remain flat to slightly down, with operating margins in the high-single digits [14]. - Net cash flow from operating activities is anticipated to be between 720 million, with capital expenditures expected to range from 320 million [15].