Kirby Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 24, 2022 at 07:26 am EDT
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Kirby Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 745.84 million compared to USD 598.92 million a year ago. Net income was USD 39.09 million compared to net loss of USD 264.73 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to basic loss per share from continuing operations of USD 4.41 a year ago. Diluted earnings per share from continuing operations was USD 0.65 compared to diluted loss per share from continuing operations of USD 4.41 a year ago.
For the nine months, revenue was USD 2,054.59 million compared to USD 1,655.39 million a year ago. Net income was USD 84.98 million compared to net loss of USD 257.92 million a year ago. Basic earnings per share from continuing operations was USD 1.41 compared to basic loss per share from continuing operations of USD 4.3 a year ago. Diluted earnings per share from continuing operations was USD 1.41 compared to diluted loss per share from continuing operations of USD 4.3 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.