Kirby Corp 8-K: Financials & Officer Changes Reported Jan 30
Ticker: KEX · Form: 8-K · Filed: Feb 1, 2024 · CIK: 56047
| Field | Detail |
|---|---|
| Company | Kirby CORP (KEX) |
| Form Type | 8-K |
| Filed Date | Feb 1, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: financial-results, executive-changes, corporate-governance
TL;DR
**Kirby Corp (KEX) just dropped an 8-K, expect news on financials or exec changes.**
AI Summary
Kirby Corporation filed an 8-K on February 1, 2024, reporting an event that occurred on January 30, 2024. This filing indicates that the company is providing an update on its financial results and operations, as well as potential changes in its executive team or their compensation. For investors, this matters because it signals that important financial or leadership news is imminent or has just been released, which could impact the stock price (KEX).
Why It Matters
This filing alerts investors to recent significant events at Kirby Corporation, likely involving financial performance or executive leadership, which are key drivers of stock valuation.
Risk Assessment
Risk Level: medium — The filing itself is administrative, but the underlying events it signals (financial results, officer changes) carry inherent market risk and opportunity.
Analyst Insight
A smart investor would look for the full financial statements and any press releases related to executive changes that are likely to follow this 8-K, as these will contain the substantive news impacting KEX stock.
Key Players & Entities
- KIRBY CORPORATION (company) — the registrant filing the 8-K
- January 30, 2024 (date) — date of the earliest event reported
- February 1, 2024 (date) — date the 8-K was filed
- KEX (company) — trading symbol for Kirby Corporation
- New York Stock Exchange (company) — exchange where KEX common stock is registered
Forward-Looking Statements
- Kirby Corporation will release detailed Q4 2023 earnings results soon. (Kirby Corporation) — high confidence, target: 2024-02-15
- There will be an announcement regarding a change in a key executive role or their compensation. (Kirby Corporation) — medium confidence, target: 2024-02-15
FAQ
What specific items are being reported in this 8-K filing by Kirby Corporation?
This 8-K filing, dated February 1, 2024, reports on 'Results of Operations and Financial Condition' and 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', as well as 'Financial Statements and Exhibits'.
When did the earliest event reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on January 30, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.
What is Kirby Corporation's trading symbol and on which exchange is its common stock registered?
Kirby Corporation's trading symbol is KEX, and its Common Stock is registered on the New York Stock Exchange, as indicated under 'Securities registered pursuant to Section 12(b) of the Act'.
What is the business address and phone number of Kirby Corporation?
Kirby Corporation's business address is 55 Waugh Drive, Suite 1000, Houston, Texas, 77007, and its telephone number is 713-435-1000.
Is Kirby Corporation considered an emerging growth company according to this filing?
The filing includes a checkbox 'Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933', but the box is not checked, implying Kirby Corporation is not an emerging growth company.
Filing Stats: 1,150 words · 5 min read · ~4 pages · Grade level 12.7 · Accepted 2024-02-01 17:01:12
Filing Documents
- kex-20240130.htm (8-K) — 46KB
- kex-ex99_1.htm (EX-99.1) — 535KB
- img121045063_0.jpg (GRAPHIC) — 148KB
- 0000950170-24-009859.txt ( ) — 928KB
- kex-20240130.xsd (EX-101.SCH) — 27KB
- kex-20240130_htm.xml (XML) — 5KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On February 1, 2024, Kirby Corporation ("Kirby" or the "Company") issued a press release announcing results for the fourth quarter ended December 31, 2023. A copy of the press release is attached as Exhibit 99.1 to this report. EBITDA, a non-GAAP financial measure, is used in the press release. Kirby defines EBITDA as net earnings attributable to Kirby before interest expense, taxes on income, and depreciation and amortization. Kirby has historically evaluated its operating performance using numerous measures, one of which is EBITDA. EBITDA is presented because of its wide acceptance as a financial indicator. EBITDA is one of the performance measures used in Kirby's incentive bonus plan. EBITDA is also used by rating agencies in determining Kirby's credit rating and by analysts publishing research reports on Kirby, as well as by investors and investment bankers generally in valuing companies. A quantitative reconciliation of EBITDA to net earnings attributable to Kirby for the 2023 and 2022 fourth quarters and years is included in the press release. EBITDA is not a calculation based on generally accepted accounting principles and should not be considered as an alternative to, but should only be considered in conjunction with, Kirby's GAAP financial information. The press release also includes non-GAAP financial measures which exclude certain one-time items, including earnings before taxes on income (excluding one-time items), net earnings attributable to Kirby (excluding one-time items), and diluted earnings per share (excluding one-time items). A reconciliation of these measures with GAAP is included in the press release. Management believes that the exclusion of certain one-time items from these financial measures enables it and investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future pe
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits EXHIBIT INDEX Exhibit Number Description of Exhibit 99.1 Press release dated February 1, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KIRBY CORPORATION Date: February 1, 2024 By: /s/ Raj Kumar Raj Kumar Executive Vice President and Chief Financial Officer