U.S. Based Kirby Corp. Announce Q12 2012 Results

Press Release
Thursday, July 26, 2012

Kirby Corp. reports continued overall inland tank barge utilization & improved rates as US petrochemical production remained strong.

Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our second quarter earnings of $.85 per share came in at the high end of our revised $.80 to $.85 per share guidance range.  During the second quarter, we experienced overall continued strong inland tank barge utilization and improved rates as United States petrochemical production remained strong.  Our coastal transportation results were hindered by higher than anticipated maintenance related costs and further deterioration in the Northeast market.

In our diesel engine services segment, our legacy marine market remained strong during the quarter and our power generation market remained positive.  For the land-based market, with the decrease in natural gas prices, we experienced a significant decrease in demand for the manufacturing of hydraulic fracturing equipment, but the demand for the remanufacturing of such equipment continues to improve."

Kirby reported net earnings attributable to Kirby for the 2012 first six months of $98.5 million, or $1.76 per share, compared with $74.1 million, or $1.38 per share, for the first half of 2011.  Consolidated revenues for the 2012 first six months were $1.08 billion compared with $737 million for the first six months of 2011.



 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Snubs G7 Declaration on Sea Row

Reacting to recent declaration of  the Group of Seven (G7) major nations' Foreign Ministers on maritime , China said “the situation of this region is generally stable,

Newport News Shipbuilding Hosts Sen. Inhofe

Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division.   The senator,

Hempel CEO Jullien Plans Retirement

Pierre-Yves Jullien, CEO of Hempel A/S since 2005, has decided to retire after nearly 40 years in the Group. He will step down from his role as CEO on March 31, 2016 at the latest.

Finance

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1850 sec (5 req/sec)