Kirby Corp increased its first-quarter profit on the back of higher revenue but still fell short of Wall Street consensus.
The David Grzebinski-led company posted earnings of $32.5m, up from profit of $27.5m a year ago. That translates to $0.54 earnings per share (EPS) versus $0.51.
Revenue came in at $741.7m versus $491.7m during the same period in 2016.
"Operationally, Kirby's first-quarter results were in line with expectations, with strength in distribution and services offsetting weakness in marine transportation due to weather," chief executive David Grzebinski said.
