Kirby: 2Q Earnings Snapshot
HOUSTON (AP) _ Kirby Corp. (KEX) on Thursday reported second-quarter profit of $47.3 million.
On a per-share basis, the Houston-based company said it had profit of 79 cents.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The barge operator posted revenue of $771 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $768.7 million.
Kirby expects full-year earnings to be $2.80 to $3.20 per share.
Kirby shares have risen 16% since the beginning of the year. The stock has decreased 11% in the last 12 months.