Kirby Corporation (KEX)

Pretax 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	294,155	263,329	232,447	195,607	164,505	136,909	-239,067	-262,871	-290,784	-298,653	45,589	53,479	-462,305	-473,283	-428,061	-389,078	189,148	154,626	147,266	129,373
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
Pretax margin		9.65%	8.84%	7.85%	6.78%	5.98%	5.24%	-9.69%	-11.29%	-13.15%	-14.10%	2.25%	2.65%	-21.29%	-20.25%	-17.07%	-14.21%	6.66%	5.32%	5.01%	4.35%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $294,155K ÷ $3,047,864K
= 9.65%

The pretax margin of Kirby Corp. has shown a positive trend in recent quarters, indicating an improvement in the company's ability to generate profits before taxes relative to its revenue. The pretax margin has been steadily increasing from 5.92% in Q4 2022 to 9.51% in Q4 2023.

The company's performance in Q4 2023 was the strongest among the reported periods, with a pretax margin of 9.51%. This suggests that Kirby Corp. has been effectively managing its operating expenses and other costs while increasing its revenue during that period.

Overall, the positive trend in pretax margin reflects an enhancement in Kirby Corp.'s operational efficiency and profitability over the quarters analyzed. It indicates that the company is effectively managing its costs and improving its business operations, which bodes well for its financial performance in the future.