Kirby Corp Q1 Profit Increases, beats estimates

(RTTNews) - Kirby Corp (KEX) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $40.698 million, or $0.68 per share. This compares with $17.434 million, or $0.29 per share, in last year's first quarter.

Excluding items, Kirby Corp reported adjusted earnings of $40.9 million or $0.68 per share for the period.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.9% to $750.444 million from $610.782 million last year.

Kirby Corp earnings at a glance (GAAP) :

-Earnings (Q1): $40.698 Mln. vs. $17.434 Mln. last year. -EPS (Q1): $0.68 vs. $0.29 last year. -Analyst Estimate: $0.64 -Revenue (Q1): $750.444 Mln vs. $610.782 Mln last year.