Kirby's profits were nearly cut in half by the pandemic, but cost-cutting measures kept its maritime segment relatively strong.
The Houston-based, New York-listed tug and barge owner reported a $25m profit for the second quarter, which represented a drop from the $47.3m posted for the second three months of 2019.
Operating income for Kirby's marine transportation business — encompassing inland, coastal and ocean transportation for both wet and dry cargo — came in at $51.4m,
