Kirby Corporation is an overlooked power play
The bull case for Kirby Corporation is driven by a tight barge market and explosive growth in its data center standby power business.
The argument
The guest argued that Kirby's core barge business is highly utilized with virtually no new supply due to high replacement costs. Additionally, its distribution and services division is experiencing rapid growth by supplying containerized standby power units to data centers.
The thesis, stress-tested
✓ What validates it
- ✓VoltaGrid IPO shining a light on the standby power business
- ✓Continued revenue growth in the distribution and services segment above 40%
▸ Risks discussed
- ▸Cyclical downturn in chemical end markets
- ▸Prolonged timeline for data center power infrastructure build-outs
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