KEX: Kirby Corporation Instablogs

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Friday, May 3, 4:43 PM Damage at a Mississippi River barge dock is preventing Marathon Petroleum (MPC) from loading crude there, which could depress Canadian oil prices if repairs are lengthy. The dock's unloading arm was damaged when a barge it was filling with crude was struck by other vessels that became unmoored; one of the barges collided with a Kirby-owned (KEX) vessel, causing a spill into the river. 3 Comments [Energy]
Wednesday, April 24, 6:07 PM Kirby (KEX): Q1 EPS of $1.00 beats by $0.09. Revenue of $558.8M beats by $29.09M. (PR) Comment! [Earnings, Breaking News]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Friday, April 5, 2:53 PM Wunderlich Securities sees Kirby (KEX) and Oiltanking Partners (OILT) as stocks with much to gain from the transformation of the U.S. crude oil transportation complex. KEX benefits from inland and coastal transportation demand; OILT is expanding its footprint and will have 25M barrels of storage capacity by year-end 2014. Comment! [Energy, Quick Ideas]
Wednesday, January 30, 7:37 PM Kirby (KEX): FQ3 EPS of $1.03 beats by $0.17. Revenue of $512.6M. (PR) Comment! [Earnings, Breaking News]
Thursday, December 20, 2012, 6:45 PM The worst commodity shipping market in 26 years may persist next year as an oversupply of vessels continues to curb ship owners’ ability to boost charter rates, according to shipbroker Clarkson. Dry bulk shipping rates have plunged 71% since Nov. 28, with both capesize and panamax shipping rates declining for 16 straight days. Baltic Dry index -58.5% YTD. 7 Comments [Energy, Global & FX]
Wednesday, November 28, 2012, 8:36 AM Kirby Corp. (KEX) agrees to buy tank barges and tugboats operator Penn Maritime in a deal valued at ~$295M consisting of cash, KEX common stock and the retirement of Penn's debt, as it looks to expand its footprint in the asphalt transportation market. KEX expects Penn to add $0.12-$0.18 to EPS in 2013. Comment! [Energy, M&A]
Friday, October 26, 2012, 4:05 PM Tank-barge operator Kirby Corp. (KEX +5.5%) will replace bulk shipper Overseas Shipholding Group (OSG -5.4%) in the Dow Jones Transportation Average after the close of trading on Monday. The index change is being done because OSG announced earlier this week it is evaluating strategic options, including a potential Chapter 11 and certain previously issued financial statements shouldn't be relied on. Comment! [On the Move]
Wednesday, October 24, 2012, 5:10 PM Kirby (KEX): Q3 EPS of $0.95 beats by $0.05. Revenue of $521.3M (-7.5% Y/Y) beats by $17M. Shares +0.5% AH. (PR) Comment! [Earnings]
Monday, September 17, 2012, 6:17 PM Kirby (KEX) Chairman and CEO Joseph Pyne sold 40K shares in the energy services company, reducing his holdings by nearly 10%, following a low in the stock price and an acquisition announcement. InsiderScore calls it "an unusual out-of-pocket sale... To see him come up and sell out of the blue like this is somewhat perplexing given the good news." Comment! [Energy]
Tuesday, September 4, 2012, 4:57 PM Kirby (KEX) buys the assets of Allied Transportation and two affiliated companies for $116M, including $10M that will be paid contingent on developments with the sugar provisions in the U.S. Farm Bill. Allied's fleet consists of 10 coastal tank barges with a total liquid capacity of 680K barrels, three offshore dry-bulk barges with a total capacity of 48K tons, and seven tugboats. Comment! [Energy, M&A]
Wednesday, July 25, 2012, 6:53 PM Kirby (KEX): Q2 EPS of $0.85 beats by $0.03. Revenue of $511.8M (+17% Y/Y) misses by $8.96M. (PR) Comment! [Earnings]
Monday, June 25, 2012, 12:06 PM BofA Merrill downgrades Kirby (KEX -11.7%) shares to Neutral from Buy and lowers its price target to $56 from $69 after the tank barge operator lowered earnings estimates for Q2 and FY 2012, noting softness in its land-based diesel engine services business. KEX plans to shift barges from New York Harbor - a "mess," CEO Joe Pyne says - and move capacity to the Gulf Coast in search of higher margins. Comment! [Energy, On the Move, Quick Ideas]
Friday, June 22, 2012, 5:13 PM Kirby (KEX) -4.9% AH after lowering guidance for FQ3 and FY 2012. The tank barge operator now sees FQ3 EPS at $0.80-$0.85 vs. prior guidance of $0.97-$1.02 and $1.00 consensus estimate, and full year at $3.45-$3.70 vs. prior $3.85-$4.05 and $3.91 consensus. The new guidance reflects deterioration in the manufacturing area and softness in oilfield-related sales. Comment! [On the Move]
Wednesday, June 20, 2012, 11:07 AM Kirby (KEX -1.6%) slides after RBC Capital cut the shares to Outperform from its Top Pick list, citing near-term guidance concerns, higher maintenance expenses, and dislocation in the fracing markets. The firm also lowers its price target to $65 from $80. Comment! [Commodities, On the Move]

KEX Kirby Corporation

KEX

Kirby Corporation