This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Kirby's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stock quotes in this article: KEX

As we continue to fine tune K-Sea’s cost structure, the US economy improves and industry capacity is removed from service, coastwise utilization rates should improve as well as K-Sea’s profitability. I will come back at the end of this call and talk about the full and first quarter outlook for 2012 and let me turn the call now over to Greg.

Greg Binion

Thank you, Joe and good morning to all. During the fourth quarter, our inland marine transportation sector continued its strong performance with utilization rates and favorable pricing trends. Low price natural gas continue to positively impact the global competitiveness of the US petrochemical industry. The feedstock advantage provided continued strong volumes of domestically produced petrochemicals for domestic consumption and exportation.

Kirby’s black oil fleet continues to see strong demand driven by stable refinery output and the movement of crude from the Midwest of the Gulf Coast and also out of South Texas. Our refined products demand remain positive benefitting from the Midwest to Gulf Coast movements of ethanol and our agricultural demand was also brisk benefitting both from domestic lead produced and imported ag products. Consequently during the 2011 fourth quarter Kirby’s petrochemical and black oil inland fleets achieved utilization rates in the low to mid 90% range.

Revenue from our long-term contracts that is one year in duration or longer remained at 75% and the mix of time charter and our freight business continued at about 55% and 45% respectively

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,755.64 -49.07 -0.29%
S&P 500 1,939.57 -6.59 -0.34%
NASDAQ 4,402.8270 -19.2580 -0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs