Kirby Corp Q2 2024 10-Q Filed

TL;DR

KEX Q2 10-Q is in. Financials and segment performance for Marine Transportation & Distribution/Services detailed.

AI Summary

Kirby Corporation filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across its Marine Transportation and Distribution & Services segments. Key financial data and operational updates are provided for the second quarter of 2024, comparing it to the same period in 2023.

Why It Matters

This filing provides investors with the latest financial results and operational details for Kirby Corporation, crucial for understanding the company's performance in the transportation and distribution sectors.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the transportation industry can be subject to economic and regulatory risks.

Key Numbers

• Q2 2024 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)
• 2023-01-01 to 2023-06-30 — Prior Period Comparison (Financial data from the first six months of 2023 is used for comparison.)
• 2024-01-01 to 2024-06-30 — Current Period Comparison (Financial data for the first six months of 2024 is presented.)

Key Players & Entities

• KIRBY CORP (company) — Filer
• 20240630 (date) — Period of Report
• 20240809 (date) — Filing Date
• 55 WAUGH DRIVE SUITE 1000 (address) — Business Address
• HOUSTON (location) — Business Address City
• TX (location) — Business Address State
• 77007 (zip_code) — Business Address Zip
• 7134351000 (phone_number) — Business Phone
• P.O. BOX 1745 (address) — Mail Address
• 77251 (zip_code) — Mail Address Zip

FAQ

Key Financial Figures

• $0.10 — 57.9 million shares of the Registrant's $0.10 par value per share common stock were o

Filing Documents

• kex-20240630.htm (10-Q) — 2364KB
• kex-ex31_1.htm (EX-31.1) — 15KB
• kex-ex31_2.htm (EX-31.2) — 15KB
• kex-ex32.htm (EX-32) — 10KB
• 0000950170-24-094676.txt ( ) — 8570KB
• kex-20240630.xsd (EX-101.SCH) — 923KB
• kex-20240630_htm.xml (XML) — 1770KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES CONDENSED BALANCE SHEETS (Unaudited) June 30, 2024 December 31, 2023 ($ in thousands) ASSETS Current assets: Cash and cash equivalents $ 53,540 $ 32,577 Accounts receivable: Trade – less allowance for doubtful accounts 550,159 526,691 Other 47,666 52,025 Inventories – net 445,304 454,389 Prepaid expenses and other current assets 69,946 69,479 Total current assets 1,166,615 1,135,161 Property and equipment 5,990,523 5,824,038 Accumulated depreciation ( 2,015,776 ) ( 1,962,933 ) Property and equipment – net 3,974,747 3,861,105 Operating lease right-of-use assets 157,950 152,216 Goodwill 438,748 438,748 Other intangibles, net 38,667 42,927 Other assets 89,171 92,040 Total assets $ 5,865,898 $ 5,722,197 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Bank notes payable $ 8,970 $ 8,068 Income taxes payable 10,194 1,486 Accounts payable 266,820 269,378 Accrued liabilities 211,276 228,946 Current portion of operating lease liabilities 33,399 33,340 Deferred revenues 153,964 134,577 Total current liabilities 684,623 675,795 Long-term debt, net – less current portion 1,039,120 1,008,527 Deferred income taxes 720,679 696,557 Operating lease liabilities – less current portion 144,250 138,811 Other long-term liabilities 14,548 15,830 Total long-term liabilities 1,918,597 1,859,725 Contingencies and commitments — — Equity: Kirby stockholders' equity: Common stock, $ 0.10 par value per share. Authorized 120 million shares, issued 65.5 million shares 6,547 6,547 Additional paid-in capital 862,258 863,963 Accumulated other comprehensive income – net 35,124 35,006 Retained earnings 2,845,587 2,691,665 Treasury stock – at cost, 7.5 million shares at June 30, 2024 and 6.8 m

View Full Filing

View this 10-Q filing on SEC EDGAR