Kirby provides FY23 outlook, sees ‘improved financial results’

Commenting on the 2023 full year outlook, David Grzebinski, Kirby’s President and Chief Executive Officer, said, "Although first quarter results were materially challenged by bad weather in marine transportation, we exited the quarter in a solid position and we anticipate improved results in marine as we progress through the remainder of 2023. In distribution and services, despite supply chain constraints, demand for our products and services is growing, and we continue to receive new orders in manufacturing. Overall, we expect our businesses to deliver improved financial results in the coming quarters. While all of this is encouraging, we are mindful of challenges related to an economic slowdown and associated headwinds from higher interest rates. With these uncertainties in mind, we will continue to focus on costs and drive strong cash flow from operations. As we look long-term, we are confident in the strength of our core businesses and our long-term strategy. We intend to continue capitalizing on strong market fundamentals and driving shareholder value creation."