Kirby Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Provides Earnings Guidance for the First Quarter and Full Year of 2013
January 30, 2013
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Kirby Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenues of $512.551 million against $550.145 million a year ago. Operating income was $99.438 million against $92.913 million a year ago. Earnings before taxes on income were $92.805 million against $87.279 million a year ago. Net earnings were $58.574 million against $56.769 million a year ago. Net earnings attributable to the company were $57.888 million or $1.03 per diluted share against $56.170 million or $1.00 per diluted share a year ago. EBITDA was $136.454 million against $128.293 million a year ago. Capital expenditures were $56.280 million against $63.028 million a year ago.
For the year, the company reported revenues of $1,408.893 million against $1,194.607 million a year ago. Operating income was $364.833 million against $312.343 million a year ago. Earnings before taxes on income were $340.526 million against $294.747 million a year ago. Net earnings were $212.619 million against $185.492 million a year ago. Net earnings attributable to the company were $209.438 million or $3.73 per diluted share against $183.026 million or $3.33 per diluted share a year ago. EBITDA was $506.877 million against $436.212 million a year ago. Capital expenditures were $312.167 million against $226.238 million a year ago.
The company provided earnings guidance for the first quarter of 2013. First quarter earnings expected to be in the range of $0.82 to $0.92 per share.
For the year 2013, the company expects earnings per share to be in the range of $4.00 to $4.20 per share. Capital spending guidance is expected to be in the range of $190 to $200 million.
Kirby Corporation is a domestic tank barge operator. The Company transports bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. The Company, through its marine transportation segment (KMT), transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barge. It also participates in the transportation of dry-bulk commodities in the United States coastwise trade. Through its distribution and services segment (KDS), it sells after-market service and genuine replacement parts for engines, transmissions, reduction gears and power generation equipment used in oil and gas and commercial and industrial applications. It also rents a variety of power generation and industrial equipment, manufactures and remanufactures oilfield service equipment, including pressure pumping units, and manufactures electric power generation equipment for oilfield service customers.
Kirby Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Provides Earnings Guidance for the First Quarter and Full Year of 2013