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Expect The Unexpected On The Inland Waterways

Expect The Unexpected On The Inland Waterways
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Kirby Reports First-Quarter Loss, Expects Improvement - The Waterways Journal

May 10, 2021
By David Murray
The ongoing effects of the COVID-19 pandemic, which have hit the oil industry especially hard, and the effects of the major winter storm in February combined to hit the earnings of Kirby Corporation in the first quarter.
On April 29, Kirby announced a net loss for the first quarter ending on March 31 of $3.4 million, or $0.06 per share, compared with a loss of $347.2 million or $5.80 per share for the 2020 first quarter. Excluding one-time items, net earnings were $35.3 million or $0.59 per share in the 2020 first quarter.
Consolidated revenues for the 2021 first quarter were $496.9 million, compared with $643.9 million reported for the 2020 first quarter. ....

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Kirby Corporation Announces 2021 First Quarter Results

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Kirby Corporation Announces 2021 First Quarter Results
Kirby CorporationApril 29, 2021 GMT
First quarter 2021 loss per share of ($0.06) including approximately ($0.09) per share impact related to Winter Storm Uri

Inland marine business adversely impacted by low pricing, reduced volumes related to Winter Storm Uri, and poor operating conditions

Inland marine barge utilization recently recovered to the low to mid-80% range with expectations for continued improvement, particularly in the second half of the year

Distribution and services segment had sequential revenue growth and positive operating margin with expectations for continued improvement in the second quarter ....

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Kirby Corporation Reports Sharp Drop In Revenue - The Waterways Journal

January 29, 2021
By Waterways Journal
Kirby Corporation last week announced net earnings for the 2020 fourth quarter of $22.2 million, or $0.37 per share, compared with $2.8 million, or $0.05 per share, for the 2019 fourth quarter. Excluding one-time charges in the 2019 fourth quarter, net earnings attributable to Kirby were $34.5 million or $0.58 per share.
Consolidated revenues for the 2020 fourth quarter were $489.8 million, compared with $655.9 million reported for the 2019 fourth quarter.
For the 2020 full year, Kirby reported a net loss of $272.5 million, or $4.55 per share, compared with net earnings of $142.3 million, or $2.37 per share, for 2019. Excluding one-time items in both years, 2020 net earnings were $110.0 million or $1.84 per share, compared with $174.0 million or $2.90 per share for 2019. ....

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The Annual Review Of Waterway Events: 2020 - The Waterways Journal

December 18, 2020
By David Murray
In the top story of 2020, an invisible virus has, to date, caused more than a million and a half deaths worldwide, sickened tens of millions more, overwhelmed the health care facilities of many countries at times, and upended the global economy, completely reshaping some industries. It is a story that is far from over, but whose end may be in sight.
After crash development by an emergency team under the aegis of Operation Warp Speed, two vaccines have been developed, one by Pfizer-BioNTech and the other by Moderna. Pfizer’s has been approved by the Food and Drug Administration after encouraging testing indicating an effectiveness of more than 90 percent. Moderna’s vaccine was awaiting approval at press time, with 6 million doses ready for immediate allocation. ....

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