Kirby's Inland Barging Business Healthy With Hints of Improvement on the Coastal Front
Tank barging specialist Kirby’s fourth-quarter top line grew a relatively modest 2% year over year, slightly below our expected run rate due to softening distribution and services revenue trends. Relative to the same period last year, slower total-revenue growth stems from a pullback in D&S segment activity levels among oilfield customers. Otherwise, the marine segment continues to benefit from previous acquisitions (including the first-quarter 2018 Higman deal), as well as healthy demand an...Kirby operates tank barge. The company's marine transportation segment provides marine transportation services, operating tank barges and towing vessels transporting bulk liquid products. The company transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge. The company's distribution and services segment, sells genuine replacement parts, provides service mechanics to overhaul and repair engines, transmissions, reduction gears and related oilfield services equipment, rebuilds component parts or diesel engines, transmissions and reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway and other industrial applications.
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