Kirby Corp Reveals 44% Decline In Q3 Earnings

(RTTNews) - Kirby Corp (KEX) reported a profit for third quarter that declined from last year.

The company said its bottom line came in at $32.01 million, or $0.59 per share. This was down from $56.84 million, or $1.04 per share, in last year's third quarter.

Analysts had expected the company to earn $0.55 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 18.4% to $434.71 million. This was down from $532.56 million last year.

Kirby Corp earnings at a glance:

-Earnings (Q3): $32.01 Mln. vs. $56.84 Mln. last year. -Earnings Decline (Y-o-Y): -43.7% -EPS (Q3): $0.59 vs. $1.04 last year. -EPS Decline (Y-o-Y): -43.3% -Analysts Estimate: $0.55 -Revenue (Q3): $434.71 Mln vs. $532.56 Mln last year. -Revenue Change (Y-o-Y): -18.4%

-Guidance: Next quarter EPS guidance: $0.45 - $0.60 Full year EPS guidance: $2.47 - $2.62