As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at marine transportation stocks, starting with Kirby (NYSE:KEX).
The growth of e-commerce and global trade continues to drive demand for shipping services, presenting opportunities for marine transportation companies. While ocean freight is more fuel efficient and therefore cheaper than its air and ground counterparts, it results in slower delivery times, presenting a trade off. To improve transit speeds, the industry continues to invest in digitization to optimize fleets and routes. However, marine transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins. Geopolitical tensions can also affect access to trade routes, and if certain countries are banned from using passageways like the Panama Canal, costs can spiral out of control.
The 5 marine transportation stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 3.3%.
While some marine transportation stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.6% since the latest earnings results.
Kirby (NYSE:KEX)
Transporting goods along all U.S. coasts, Kirby (NYSE:KEX) provides inland and coastal marine transportation services.
Kirby reported revenues of $802.3 million, flat year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a miss of analysts’ adjusted operating income estimates.
David Grzebinski, Kirby’s Chief Executive Officer, commented, “Our fourth quarter results included some seasonal softness in both marine transportation and distribution and services, as we experienced weather and navigational challenges for marine and typical seasonal weakness in distribution and services. These headwinds were offset by good execution from our teams in both segments during the quarter that drove strong year-over-year financial performance, with adjusted earnings per share up 24% year-over-year. We ended the year on a good note, and we anticipate strong growth in 2025.
The stock is down 4.5% since reporting and currently trades at $101.75.
Is now the time to buy Kirby? Access our full analysis of the earnings results here, it’s free.
Best Q4: Matson (NYSE:MATX)
Founded by a Swedish orphan, Matson (NYSE:MATX) is a provider of ocean transportation and logistics services.
Matson reported revenues of $890.3 million, up 12.9% year on year, outperforming analysts’ expectations by 4.5%. The business had a very strong quarter with a solid beat of analysts’ EBITDA estimates.
Matson pulled off the fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 8.4% since reporting. It currently trades at $129.50.
Is now the time to buy Matson? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Scorpio Tankers (NYSE:STNG)
Operating one of the youngest fleets in the industry, Scorpio Tankers (NYSE: STNG) is an international provider of marine transportation services, specializing in the shipment of refined petroleum.
Scorpio Tankers reported revenues of $192.1 million, down 42.5% year on year, falling short of analysts’ expectations by 3.6%. It was a softer quarter as it posted a significant miss of analysts’ adjusted operating income estimates.
Scorpio Tankers delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 14.1% since the results and currently trades at $41.11.
Read our full analysis of Scorpio Tankers’s results here.
Genco (NYSE:GNK)
Headquartered in NYC, Genco (NYSE:GNK) is a shipping company that transports dry bulk cargo along worldwide maritime routes.
Genco reported revenues of $67.53 million, down 5.4% year on year. This number met analysts’ expectations. Taking a step back, it was a mixed quarter as it also logged a decent beat of analysts’ EBITDA estimates but a miss of analysts’ EPS estimates.
The stock is down 2.3% since reporting and currently trades at $14.29.
Read our full, actionable report on Genco here, it’s free.
Pangaea (NASDAQ:PANL)
Established in 1996, Pangaea Logistics (NASDAQ:PANL) specializes in global logistics and transportation services, focusing on the shipment of dry bulk cargoes.
Pangaea reported revenues of $147.2 million, up 11.6% year on year. This result beat analysts’ expectations by 15.6%. It was a strong quarter as it also put up a solid beat of analysts’ EBITDA estimates.
Pangaea delivered the biggest analyst estimates beat among its peers. The stock is up 16.3% since reporting and currently trades at $5.65.
Read our full, actionable report on Pangaea here, it’s free.
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