Marine Transportation Markets News

Bollinger Quick Repair, LLC, a Bollinger Shipyards LLC company, has taken delivery of a new 3,400 ton dry-dock.Built at Bollinger Shipyard’s Amelia, La. facility, the dock is now in service and measures 219’7” X 84’, with a wing wall depth of 15’, and is rated for 3,400 tons, said Bollinger President & CEO, Ben Bordelon.The dry-dock is named in honor of long-time Bollinger employee Eddie Barnes, Jr., who joined Bollinger Shipyards on June 29, 1972 and during his tenure with the company has held various key production positions such as Dockmaster, Foreman and Superintendent.

Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter. Second quarter net earnings includes pre-tax expenses of $0.7 million, or approximately $0.01 per share, related to the pending acquisition of Stewart & Stevenson LLC (“S&S”). Consolidated revenues for the 2017 second quarter were $473.3 million compared with $441.6 million reported for the 2016 second quarter.

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.3 million, $1.13 per share. Consolidated revenues for the 2014 Q4 increased 18% to $668.3 million compared with $568.4 million for Q4 2013. Kirby also reported record net earnings for the 2014 year of $282 million, $4.93 per share, compared with $253.1 million, $4.44 per share, for 2013 which included a $0.20 per share benefit due to the reduction of the United earnout liability.

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30, 2014 of $76.7 million, or $1.34 per share, compared with $69.1 million, or $1.21 per share, for the 2013 third quarter, which included a $0.08 per share benefit due to the reduction of the United earnout liability.

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the second quarter ended June 30, 2014 of $75.0 million, or $1.31 per share, compared with $63.1 million, or $1.11 per share, for the 2013 second quarter. Consolidated revenues for the 2014 second quarter increased 11% to $628.1 million compared with $563.9 million reported for the 2013 second quarter.

Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2012 of $57.9 million, or $1.03 per share, compared with $56.2 million, or $1.00 per share, for the 2011 fourth quarter. Revenues for the 2012 fourth quarter were $512.6 million compared with $550.1 million for the 2011 fourth quarter. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our fourth quarter results benefited from higher demand and favorable pricing in our coastal marine transportation markets, as well as a contribution from our two fourth quarter coastal acquisitions. We were also able to manage through the Mississippi River System's low water issues and Hurricane Sandy with only an estimated $.02 to $.03 per share negative impact.

Kirby Corporation (NYSE:KEX) announced net earnings for the second quarter ended June 30, 2009 of $33.7 million, or $.63 per share, compared with net earnings of $40.3 million, or $.74 per share, for the 2008 second quarter. Kirby's published 2009 second quarter guidance range was $.52 to $.62 per share. Consolidated revenues for the 2009 second quarter were $272.7 million compared with $348.3 million reported for the 2008 second quarter. Joe Pyne, Kirby's President and Chief Executive Officer, commented, "The decline in our marine transportation and diesel engine services demand reflects a difficult economic environment. Our 2009 first quarter actions focused on early retirements, staff reductions, cost reductions and efficiency initiatives.