Kirby reports Q4 EPS $1.04, consensus $1.03

Reports Q4 revenue $799.176M, consensus $778.24M. David Grzebinski, Kirby’s President, and Chief Executive Officer, commented, “During the fourth quarter, continued strong fundamentals in both our businesses resulted in significant year-over-year growth in our revenues and earnings. In marine transportation, pricing on spot and term contracts benefited from strong demand and limited availability of barges while the onset of winter weather conditions proved to be a headwind to efficiency in the quarter. Distribution and services delivered higher revenues sequentially, but margins were down slightly from the third quarter due to lower demand in our power rental business and typical seasonal slowness. We ended the year on a good note, and we anticipate strong growth in 2024.”