Kirby Corporation (KEX) has announced its first quarter profits, showing a substantial increase from last year and exceeding Wall Street forecasts.
The company reported earnings of $70.068 million, or $1.19 per share, a significant improvement on last year's first quarter earnings of $40.698 million, or $0.68 per share.
Wall Street analysts had predicted earnings of $0.98 per share, according to data consolidated by Thomson Reuters, suggesting that Kirby Corporation surpassed anticipations. It should be noted that such forecasts typically do not take into account extraordinary items.
For the first quarter, the company's revenue climbed by 7.7% to $808.022 million, up from $750.444 million last year.
A quick overview of Kirby Corp's earnings in accordance with Generally Accepted Accounting Principles (GAAP):
- First Quarter Earnings: $70.068 million, up from $40.698 million last year.
- Earnings Per Share for the First Quarter: $1.19, up from $0.68 last year.
- First Quarter Revenue: $808.022 million, increased from $750.444 million last year.
