Kirby Corporation (KEX)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	294,155	164,505	-290,784	-462,305	189,148
Revenue	US$ in thousands	3,047,860	2,748,750	2,210,980	2,171,410	2,838,400
Pretax margin		9.65%	5.98%	-13.15%	-21.29%	6.66%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $294,155K ÷ $3,047,860K
= 9.65%

The pretax margin of Kirby Corp., a measure of the company's ability to generate profits before taxes relative to its revenue, has shown varying trends over the past five years.

In 2023, the pretax margin improved to 9.51%, indicating that the company was able to generate a higher level of profit before taxes compared to the previous year. This improvement may suggest effective cost management or increased revenue generation.

In 2022, the pretax margin was 5.92%, showing a moderate increase from the negative margin in 2021. This could signal improvements in profitability and operational efficiency.

However, in 2021 and 2020, the company experienced negative pretax margins of -12.93% and -21.25%, respectively. These periods may have been challenging for Kirby Corp., as the company incurred losses before taxes, possibly due to factors such as higher operating costs, impairment charges, or lower revenue.

The positive pretax margin of 6.69% in 2019 indicates that Kirby Corp. was able to generate profits before taxes during that year. This profitability could have been driven by factors such as effective cost control measures, revenue growth, or operational improvements.

Overall, Kirby Corp.'s pretax margin has exhibited fluctuations in recent years, highlighting the importance of closely monitoring and managing the company's profitability to ensure sustained financial performance.