Kirby Corp. (KEX) Reports Q4 EPS of $3.87

Kirby Corp. (NYSE: KEX) reported Q4 EPS of $3.87, may not compareto the analyst estimate of $0.51. Revenue for the quarter came in at $708.1 million versus the consensus estimate of $608.22 million.

Commenting on the 2018 first quarter and full year market outlook and guidance, Mr. Grzebinski said, "Our earnings guidance for the first quarter is $0.45 to $0.65 per share compared with $0.51 per share for the 2017 first quarter. This includes a $0.05 to $0.10 per share temporary negative impact to our distribution and services segment related to the adoption of a new revenue recognition accounting standard which limits percentage of completion revenue accruals. This new standard will result in revenue accrual timing delays on certain new pressure pumping unit orders until the second quarter. Our full year earnings guidance is $2.50 to $3.00 per share. The new revenue recognition standard is not expected to materially impact the full year earnings results. These guidance ranges include the benefit of a lower effective tax rate of $0.08 to $0.12 per share for the first quarter and $0.40 to $0.50 per share for the full year."

For earnings history and earnings-related data on Kirby Corp. (KEX) click here.

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