Kirby Corporation (KEX)

Operating profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Operating income (ttm)	US$ in thousands	398,508	440,402	406,995	374,312	334,313	253,593	171,986	82,102	-159	20,122	-308,720	-282,108	-258,133	-264,960	81,877	92,101	-292,826	-301,423	-253,433	-211,842
Revenue (ttm)	US$ in thousands	3,265,876	3,262,737	3,196,360	3,149,218	3,091,640	3,022,629	3,003,700	2,924,416	2,784,754	2,645,855	2,498,932	2,360,592	2,246,660	2,145,150	2,042,797	2,024,332	2,171,408	2,337,579	2,507,821	2,737,704
Operating profit margin		12.20%	13.50%	12.73%	11.89%	10.81%	8.39%	5.73%	2.81%	-0.01%	0.76%	-12.35%	-11.95%	-11.49%	-12.35%	4.01%	4.55%	-13.49%	-12.89%	-10.11%	-7.74%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $398,508K ÷ $3,265,876K
= 12.20%

Kirby Corporation's operating profit margin has shown significant fluctuations over the past few years. The company experienced negative margins in most quarters of 2020 and 2021, indicating challenges in generating profits from its operations. However, there was a notable improvement in the operating profit margin in the first quarter of 2021, turning positive at 4.55%.

Subsequently, the margin fluctuated between positive and negative values in 2022, with the highest positive margin recorded at 0.76% in the third quarter. There was a slight improvement in the fourth quarter of 2022, with the margin almost breaking even at -0.01%.

In 2023, Kirby Corporation's operating profit margin saw significant improvements, reaching double-digit percentages by the end of the year. The margin continued to strengthen in 2024, consistently staying above 10% in each quarter, with the highest margin recorded at 13.50% in the third quarter.

Overall, Kirby Corporation's operating profit margin has shown a positive trend in recent years, indicating improved profitability from its core operations. The company's ability to achieve and sustain double-digit margins in the latter part of the period signifies successful operational performance and potential for sustained profitability.