Kirby Corp Files 8-K: Operations, Personnel Changes, Financials
Ticker: KEX · Form: 8-K · Filed: Aug 1, 2024 · CIK: 56047
| Field | Detail |
|---|---|
| Company | Kirby CORP (KEX) |
| Form Type | 8-K |
| Filed Date | Aug 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: operations, personnel, financials
TL;DR
Kirby Corp 8-K dropped: financials updated, execs shuffled, and new board members elected.
AI Summary
Kirby Corporation filed an 8-K on August 1, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with details on compensatory arrangements for these officers. Additionally, it included financial statements and exhibits.
Why It Matters
This filing provides crucial updates on Kirby Corporation's financial performance and significant changes in its leadership and governance structure.
Risk Assessment
Risk Level: medium — The filing involves financial results and executive changes, which can introduce uncertainty and impact investor confidence.
Key Players & Entities
- Kirby Corporation (company) — Registrant
- August 1, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of Incorporation
- 713-435-1000 (phone_number) — Registrant's telephone number
- 55 Waugh Drive, Suite 1000, Houston, Texas 77007 (address) — Address of Principal Executive Offices
FAQ
What specific financial results are being reported by Kirby Corporation in this 8-K?
The 8-K indicates that it reports on 'Results of Operations and Financial Condition,' but the specific financial figures are not detailed in the provided text excerpt.
Who are the directors or officers that have departed or been appointed?
The filing mentions 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers,' but the names of the individuals involved are not present in this excerpt.
What are the details of the compensatory arrangements for the newly appointed officers?
The 8-K states it covers 'Compensatory Arrangements of Certain Officers,' but the specifics of these arrangements are not included in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 1, 2024.
What is Kirby Corporation's Standard Industrial Classification (SIC) code?
Kirby Corporation's Standard Industrial Classification (SIC) code is WATER TRANSPORTATION [4400].
Filing Stats: 988 words · 4 min read · ~3 pages · Grade level 13.5 · Accepted 2024-08-01 13:46:59
Key Financial Figures
- $100,000 — Units ("RSUs") having a target value of $100,000. This award, which will be granted on A
Filing Documents
- kex-20240801.htm (8-K) — 46KB
- kex-ex99_1.htm (EX-99.1) — 474KB
- img121045063_0.jpg (GRAPHIC) — 148KB
- 0000950170-24-089109.txt ( ) — 863KB
- kex-20240801.xsd (EX-101.SCH) — 26KB
- kex-20240801_htm.xml (XML) — 5KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On August 1, 2024, Kirby Corporation ("Kirby" or the "Company") issued a press release announcing results for the second quarter ended June 30, 2024. 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 calculating performance compensation pursuant to the Company's annual incentive 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 2024 and 2023 second quarters and first six months 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 an
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 August 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: August 1, 2024 By: /s/ Raj Kumar Raj Kumar Executive Vice President and Chief Financial Officer