Winter Weather Tempers Kirby's 1Q, but Marine Segment's Growth Outlook Remains Positive
Tank barging specialist Kirby’s first-quarter top line was roughly flat year over year and slightly below our expected run rate due to weather-related disruption, including fog along the Gulf Coast and ice on the Illinois River. However, those conditions should improve in the quarters ahead. Relative to the same period last year, acquisitions contributed to growth, underlying demand strengthened for the inland marine operations, and spot and contract pricing is on the rise. However, those factor...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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