This Day On The Street
Continue to site
ADVERTISEMENT
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

Kirby Corporation's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Our focus is to continue to enhance this service model with the objective of providing our customers the best and safest service in the industry.

Now our legacy inland tank barge business is performing well with favorable pricing trends. We anticipate this sector to remain positive based on the favorable outlook of the U.S. petrochemical and refining industry.

For the Diesel Engine segment, our legacy business is improving due to the overall health of it inland marine transportation customers and an improved Gulf of Mexico oil service market. For our land-based Diesel Engine Service business, with the current low price of natural gas incentive to drill for natural gas has declined but the incentive to find crude oil remains very positive due to the current high price of crude oil. This business is seeing a natural rotation away from natural gas to oil exploration. As this rotation occurs, there has been a pause in new orders for the oil service equipment as the market assesses its requirements. We are using this pause to further develop the service opportunities in this business.

When we purchased United it was our objective to apply a very good, well-tested marine diesel engine service model to land-based diesel engines. It is our intention to continue to build oil service equipment, but to more heavily focus on servicing this equipment rather than manufacturing it. Later in the call Greg will share with you some encouraging comments regarding remanufacturing service opportunities. Then I’ll come back at the end of the call and talk about the second quarter as well as the full year outlook.

Now I’m going to turn the call over to David, who will speak briefly about Kirby Offshore Marine’s markets and then Greg will update you on our inland tank barge business and the Diesel Engine Service markets.

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

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs