(Adds leadership change, outlook)
Kirby Corporation (KEX) said it appointed Christian G. O'Neil as its Chief Operating Officer with effect from April 26. O'Neil previously served as President of the Marine Transportation businesses form 2018 and has been with Kirby since 1997.
Separately, commenting on its outlook, the company said, "With major shipyards and ballast water treatment installations concluding in the first half of the year, revenues for the full year are expected to increase in the high single to low double digits range compared to 2023."
Q1 Results:
Kirby Corp (KEX) released a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $70.068 million, or $1.19 per share. This compares with $40.698 million, or $0.68 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 7.7% to $808.022 million from $750.444 million last year.
Kirby Corp earnings at a glance (GAAP) :
-Earnings (Q1): $70.068 Mln. vs. $40.698 Mln. last year.
-EPS (Q1): $1.19 vs. $0.68 last year.
-Revenue (Q1): $808.022 Mln vs. $750.444 Mln last year.
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