Kirby Corp lowers outlook
US Jones Act shipowner lowers its full year outlook on the back of weakness in distribution and services. The company lowered its guidance by about 14% from a midpoint of $3.50 per share to between $2.80 and $3.20 per share
Reduced oilfield exploration and production activity has meant a ‘more pronounced than expected’ downturn in Kirby’s distribution and services, a trend the company sees continuing for the rest of the year
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