Kirby (KEX) Q3 FY2023 earnings: revenue $765 million, up 2.5% on the year

Kirby Corp. (KEX) reported revenue of $765 million for Q3 FY2023, the quarter ended 30 September 2023, up 2.5% on the same quarter a year earlier. Net income was $63 million, up 61.1% on the year, and diluted earnings per share $1.05. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2023.

Revenue$765 millionup 2.5%

Net income$63 millionup 61.1%

Diluted EPS$1.05

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	765	n/a	n/a	n/a
Selling, general and administrative	79.1	n/a	n/a	n/a
Operating income	93.5	n/a	n/a	n/a
Operating margin	12.2%	n/a	n/a
Interest expense	13.4	n/a	n/a	n/a
Pre-tax income	81.7	n/a	n/a	n/a
Income tax	18.7	n/a	n/a	n/a
Effective tax rate	22.9%	n/a	n/a
Net income	63.0	n/a	n/a	n/a
Net margin	8.2%	n/a	n/a
Diluted EPS	$1.05	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	96.3	n/a	n/a	n/a
Capital expenditure	104	n/a	n/a	n/a
Free cash flow	-7.4	n/a	n/a	n/a
Free cash flow margin	-1.0%	n/a	n/a
Cash from investing	-140	n/a	n/a	n/a
Cash from financing	49.1	n/a	n/a	n/a
Depreciation and amortisation	53.4	n/a	n/a	n/a
Share-based compensation	3.4	n/a	n/a	n/a
Buybacks	23.3	n/a	n/a	n/a
Diluted shares, weighted	60m	n/a	n/a	n/a
Shares outstanding at period end	59m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	3,157	n/a	n/a	n/a
Non-controlling interest	1.2	n/a	n/a	n/a
Debt	1,068	n/a	n/a	n/a
Operating lease liabilities	142	n/a	n/a	n/a
Other liabilities	1,315	n/a	n/a	n/a
Total liabilities and equity	5,683	n/a	n/a	n/a
Fixed assets	3,782	n/a	n/a	n/a
Goodwill	439	n/a	n/a	n/a
Intangible assets	45.1	n/a	n/a	n/a
Cash and equivalents	42.1	n/a	n/a	n/a
Receivables	515	n/a	n/a	n/a
Inventory	506	n/a	n/a	n/a
Other assets	355	n/a	n/a	n/a
Total assets	5,683	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	765	799	808	824	831	802	786	855	871	852	844	922
SG&A	79.1	84.3	90.2	80.4	84.1	82.4	95.3	85.8	87.8	87.4	101	88.7
Operating income	93.5	92.8	102	120	127	50.1	106	132	129	130	108	122
Operating margin	12%	12%	13%	15%	15%	6%	13%	15%	15%	15%	13%	13%
Interest expense	13.4	13.1	13.2	12.8	12.5	10.7	10.5	12.7	11.8	11.2	10.2	11.0
Pre-tax income	81.7	81.4	91.6	111	117	43.0	100	124	123	124	105	118
Tax rate	23%	24%	24%	24%	23%	0%	24%	24%	25%	26%	22%	24%
Net income	63.0	61.9	70.1	83.9	90.0	42.8	76.0	94.3	92.5	91.8	81.2	89.7
Net margin	8%	8%	9%	10%	11%	5%	10%	11%	11%	11%	10%	10%
Diluted EPS	$1.05	$1.04	$1.19	$1.43	$1.55	$0.74	$1.33	$1.67	$1.65	$1.68	$1.50	$1.67
Operating cash flow	96.3	216	123	179	207	247	36.5	93.9	228	312	97.7	72.3
Capital expenditure	104	127	81.0	88.6	76.4	96.7	78.7	71.5	67.3	47.0	48.3	71.5
Free cash flow	-7.4	89.2	42.2	90.8	130	151	-42.1	22.4	160	265	49.4	0.8
Buybacks	23.3	51.9	41.8	43.7	55.8	33.3	101	31.2	120	102	52.7	59.7
Shares outstanding	59m	59m	58m	58m	57m	57m	56m	56m	54m	54m	54m	53m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 6 November 2023, accession 0000950170-23-059177: the filing on EDGAR. All of Kirby Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install