Kirby Corp Announces 38% Drop In Q1 Bottom Line

(RTTNews) - Kirby Corp (KEX) reported a profit for first quarter that fell compared to the same period last year.

The company said its bottom line fell to $38.10 million, or $0.71 per share. This was lower than $61.08 million, or $1.09 per share, in last year's first quarter.

Analysts had expected the company to earn $0.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 21.9% to $458.73 million. This was down from $587.67 million last year.

Kirby Corp earnings at a glance:

-Earnings (Q1): $38.10 Mln. vs. $61.08 Mln. last year. -Earnings Decline (Y-o-Y): -37.6% -EPS (Q1): $0.71 vs. $1.09 last year. -EPS Decline (Y-o-Y): -34.9% -Analysts Estimate: $0.78 -Revenue (Q1): $458.73 Mln vs. $587.67 Mln last year. -Revenue Change (Y-o-Y): -21.9%

-Guidance: Next quarter EPS guidance: $0.65 - $0.75 Full year EPS guidance: $2.80 - $3.20