Kirby Corporation (KEX)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	335,092	300,022	265,406	224,642	192,886	166,738	-209,095	-231,603	-258,133	-264,960	81,877	92,101	-420,759	-429,356	-381,366	-339,775	242,027	206,609	196,665	176,675
Revenue (ttm)	US$ in thousands	3,047,864	2,978,815	2,959,644	2,883,549	2,748,750	2,612,051	2,466,984	2,328,190	2,210,984	2,118,857	2,025,957	2,015,773	2,171,408	2,337,579	2,507,821	2,737,704	2,838,399	2,903,965	2,942,001	2,973,630
Operating profit margin		10.99%	10.07%	8.97%	7.79%	7.02%	6.38%	-8.48%	-9.95%	-11.68%	-12.50%	4.04%	4.57%	-19.38%	-18.37%	-15.21%	-12.41%	8.53%	7.11%	6.68%	5.94%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $335,092K ÷ $3,047,864K
= 10.99%

Based on the provided data, Kirby Corp.'s operating profit margin has shown a generally increasing trend over the past eight quarters, indicating an improvement in the company's operational efficiency and profitability. The operating profit margin has consistently expanded from 4.26% in Q1 2022 to 10.68% in Q4 2023, reflecting management's ability to control costs and increase revenue generation.

The steady growth in operating profit margin signifies that Kirby Corp. has been effectively managing its operating expenses relative to its revenue. This improvement suggests that the company has been able to enhance its profitability by optimizing its cost structure, potentially through cost-cutting measures, operational efficiencies, or successful pricing strategies.

The rising trend in the operating profit margin is a positive sign for investors, as it indicates that Kirby Corp. is becoming more efficient in generating profits from its core business operations. It also suggests that the company's management is successfully executing its strategies to improve profitability, which can contribute to shareholder value creation in the long term.