Kirby Corporation Announces Latest Full Year Results
In January 2022, Kirby announced its latest fourth quarter and full-year earnings, recording $2.5 billion in revenue, an increase of 3.5% from 2020. While the company benefited from increased demand for distribution and services, growth was slightly hindered by a decrease in revenue from marine transportation. However, the second half of 2021 proved to be a bright spot for marine transportation, as revenue exceeded figures when compared with the same period in 2020. The company expects the upward trend in marine transportation to carry over into 2022.
M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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