Kirby Corporation (KEX) Misses Q1 EPS by 7c; Trims FY16 EPS Outlook

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Go back to Kirby Corporation (KEX) Misses Q1 EPS by 7c; Trims FY16 EPS Outlook

Kirby Corporation Announces 2016 First Quarter Results

April 27, 2016 5:00 PM EDT

HOUSTON, April 27, 2016 /PRNewswire/ -- Kirby Corporation ("Kirby") (NYSE: KEX) today announced net earnings attributable to Kirby for the first quarter ended March 31, 2016 of $38.1 million, or $0.71 per share, compared with $61.1 million, or $1.09 per share, for the 2015 first quarter.  Consolidated revenues for the 2016 first quarter were $458.7 million compared with $587.7 million reported for the 2015 first quarter.  A reduction in force executed in February 2016 resulted in pre-tax expenses of $5.6 million, or approximately $0.06 per share, which impacted both of Kirby's reportable business segments.

David Grzebinski, Kirby's President and Chief Executive Officer, commented, "Trends in both the... More