Filing Flows › Kirby (KEX) › Q1 2025
Kirby (KEX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Kirby (KEX) reported revenue of $786M for the first quarter 2025 (Q1 2025), -3% from a year earlier and -2% from the quarter before. Operating margin was 13.4%, net earnings $76.3M (9.7% of revenue).
Kirby, Q1 2025: revenue $786M (-3% year over year), operating margin 13.4%, net earnings $76.3M, operating cash flow $36.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $786M | -2% | -3% |
| Operating profit | $106M | +110% | +4% |
| Net earnings | $76.3M | +78% | +9% |
| Operating cash flow | $36.5M | -85% | -70% |
What changed
Revenue was $785.7M in Q1 2025, down 3% year over year and down 2% from the previous quarter. Marine Transportation was the largest line at 61% of revenue. Distribution and Services lost $23.1M year over year (down 7%), 103% of the total change.
Operating profit was $105.5M, a 13.4% margin (up 0.9 points year over year). Total costs fell 4% while revenue fell 3%. Net earnings were $76.0M, up 8% year over year. The effective tax rate was 24.0%.
Operating cash flow was $36.5M (down 70% year over year), 48% of net earnings. Non-cash charges added back $63.7M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $111.3M. Capital expenditures of $78.7M exceeded it, leaving free cash flow of −$42.1M.
Questions
What was Kirby's revenue in the first quarter 2025?
Kirby (KEX) reported revenue of $786M for the first quarter 2025 (Q1 2025), -3% from a year earlier and -2% from the quarter before.
Was Kirby profitable in the first quarter 2025?
Operating profit was $106M (13.4% of revenue) and net earnings $76.3M.
Source: Kirby 10-Q on SEC EDGAR.