Kirby Corporation Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 28, 2021 at 07:00 am EST
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Kirby Corporation announced earnings results for the fourth quarter ended December 31, 2020. For the full year, total revenue was USD 2,171.408 million compared to USD 2,838.399 million a year ago. Operating loss was USD 420.759 million compared to operating income of USD 242.027 million a year ago. Net loss was USD 272.546 million compared to net income of USD 142.347 million a year ago. Basic loss per share from continuing operations was USD 4.55 compared to basic earnings per share from continuing operations of USD 2.38 a year ago. Diluted loss per share from continuing operations was USD 4.55 compared to diluted earnings per share from continuing operations of USD 2.37 a year ago. For the quarter, total revenue was USD 489.756 million. Operating income was USD 24.774 million. Net income was USD 22.204 million.
Kirby Corporation is a domestic tank barge operator. The Company transports bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. The Company, through its marine transportation segment (KMT), transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barge. It also participates in the transportation of dry-bulk commodities in the United States coastwise trade. Through its distribution and services segment (KDS), it sells after-market service and genuine replacement parts for engines, transmissions, reduction gears and power generation equipment used in oil and gas and commercial and industrial applications. It also rents a variety of power generation and industrial equipment, manufactures and remanufactures oilfield service equipment, including pressure pumping units, and manufactures electric power generation equipment for oilfield service customers.