The Coastal Tank-Barging Landscape Remained Soft in Kirby’s 4Q, but Trends Likely Bottomed
Narrow-moat Kirby’s fourth-quarter revenue expanded to $708 million, from $436 million a year ago, primarily due to the third-quarter 2017 S&S acquisition (equipment and distribution services). Total revenue came in modestly ahead of our forecast due to solidly recovering market conditions for the legacy land-based diesel engine services business (including improved equipment remanufacturing activity). That said, coastal tank-barging revenue was once again weaker than we anticipated. The coa...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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