Wednesday, Kirby Corp. (KEX) reported third-quarter net income of $35.0 million or $0.65 per share, compared to net income of $41.8 million or $0.77 per share in the same quarter last year.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.65 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated revenues for the quarter were $272.2 million, down from $354.6 million in the comparable quarter last year. Analysts expected the company to report revenue of $281.41 million for the quarter.
Looking ahead to the fourth quarter, the company expects earnings in the range of $0.57 - $0.62 per share. Analysts currently anticipate the company to earn $0.64 per share for the quarter.
For the fiscal year 2009, the company lowered its earnings guidance to a range of $2.37 - $2.42 per share from the prior guidance of $2.40 - $2.50 per share. Analysts currently anticipate the company to earn $2.44 per share.
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