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 Q3. 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 strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.9%.

Luckily, marine transportation stocks have performed well with share prices up 18.8% on average 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 $871.2 million, up 4.8% year on year. This print exceeded analysts’ expectations by 2.3%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue estimates.

David Grzebinski, Kirby’s Chief Executive Officer, commented, “Kirby’s third quarter performance reflects our ability to adapt and deliver results, with continued strength in coastal marine and power generation, and focused execution in the face of softer inland market conditions.”

Interestingly, the stock is up 23% since reporting and currently trades at $109.04.

Is now the time to buy Kirby? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: 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 $168.7 million, up 10.2% year on year, outperforming analysts’ expectations by 5.9%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Pangaea pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 54.2% since reporting. It currently trades at $7.59.

Is now the time to buy Pangaea? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: 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 $54.73 million, down 22.6% year on year, falling short of analysts’ expectations by 3.9%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

Genco delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 8.2% since the results and currently trades at $18.13.

Read our full analysis of Genco’s results here.

Matson (NYSE: MATX)

Founded by a Swedish orphan, Matson (NYSE: MATX) is a provider of ocean transportation and logistics services.

Matson reported revenues of $880.1 million, down 8.5% year on year. This number beat analysts’ expectations by 5.1%. Overall, it was an incredible quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 25.9% since reporting and currently trades at $123.52.

Read our full, actionable report on Matson here, it’s free for active Edge members.

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 $232.9 million, down 9.8% year on year. This print was in line with analysts’ expectations. It was a strong quarter as it also produced a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The stock is down 17.1% since reporting and currently trades at $51.40.

Read our full, actionable report on Scorpio Tankers here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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