Kirby Corporation Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 29, 2021 at 08:20 am EDT
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Kirby Corporation announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 559.624 million compared to USD 541.159 million a year ago. Operating income was USD 24.028 million compared to USD 34.252 million a year ago. Net income was USD 10.190 million compared to USD 25.002 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.42 a year ago. For the half year, total revenue was USD 1,056.474 million compared to USD 1,185.085 million a year ago. Operating income was USD 27.192 million compared to operating loss of USD 475.444 million a year ago. Net income was USD 6.815 million compared to net loss of USD 322.239 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to basic loss per share from continuing operations of USD 5.38 a year ago.
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.