Recap: Kirby Q2 Earnings

Shares of Kirby KEX were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 46.84% year over year to $0.42, which missed the estimate of $0.45.

Revenue of $541,159,000 decreased by 29.81% from the same period last year, which missed the estimate of $589,360,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Kirby hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Jul 30, 2020

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/bgbqzgn4

Technicals

52-week high: $92.30

Company's 52-week low was at $32.76

Price action over last quarter: down 4.45%

Company Description

In its legacy marine transportation segment (46% of first-half 2018 sales), Kirby operates the largest fleet of tank barges on the U.S. inland waterway system. Since its incorporation in 1969, the firm's marine division has built a market- leading position by successfully rolling up smaller tank-barge fleets. Kirby also runs a large diesel-engine and oilfield-equipment services operation (54% of sales), that primarily serves the oil and gas industry, but also commercial and industrial customers.