Kirby Corp has tempered forecasts for the rest of this year as it expects less demand for pressure pumping equipment and maintenance work for various sectors, including oil drilling.
The Houston US Jones Act shipowner has lowered its full-year guidance to $2.80 from $3.20 per share but remains "positive" toward the longterm.
"Although the lower end of our previous guidance range contemplated some reduced oilfield activity in distribution and services for the second half of 2019, it has become increasingly evident that orders for new pressure pumping equipment and maintenance activities will remain very limited for the balance of the year," chief executive David...
