Kirby Corp. Profits Disappoint

Thursday, September 21, 2000
Barge operator Kirby Corp. said its third-quarter profit would miss Wall Street expectations by about 10 percent because of a fall off in refined petroleum shipments and higher fuel prices. Houston-based Kirby, which operates a fleet of barges and towing vessels transporting chemicals, refined petroleum and agricultural goods on U.S. inland waterways, said in a statement its third-quarter profit would be between 36 cents and 38 cents per share. Wall Street analysts had been expecting Kirby to report a profit of $0.41 cents per share, according to research firm First Call/Thomson Financial. A year earlier it had earned $0.34 cents per share. Refined product volumes were strong in the first and second quarters, but weakened during the third quarter, the company said. In addition, fuel prices have increased significantly. Kirby also said its diesel engine services business results for the quarter are expected to be below the reported results for the first and second quarters because of soft engine rebuild and rail businesses. The Gulf Coast drilling and offshore supply vessel market has improved, but not to a level offsetting shortfalls in other areas, it said.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

ISR Holds Crawler Crane Dedication Ceremony

International Ship Repair & Marine Services, Inc. (ISR) was awarded a $980,260 federal grant from the U.S. Department of Transportation Maritime Administration

USCG Leading Marina Pollution Response

U.S. Coast Guard pollution responders are continuing to respond to reports of pollution in Charleston City, Bristol and Ashley River marinas Sunday. Boaters reported pools of thick,

Coast Guard Inspects Cleveland's First Containership

U.S. Coast Guard marine inspectors conducted safety and security examinations on the first-ever containership to arrive in Cleveland Saturday morning. The Fortunagracht,

Finance

BP Spill Compensation Battles Rage On

BP pays billions in compensation but some claims still unpaid; Oil still appearing on beaches in Gulf of Mexico. Company says claims process is flawed, not all oil from spill.

Japan Expresses Concern Over Chinese Ship Seizure

The Japanese government has expressed its concerns to China via diplomatic channels over the seizure of a Mitsui O.S.K. Line Ltd ship by a Chinese court in connection with a case over wartime claims,

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Shipbuilding / Vessel Construction 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: 0.1847 sec (5 req/sec)