third quarter

Hurricanes, Covid-19 impact Kirby’s earnings report

Inland tank barge giant Kirby Corp. reported weakened earnings for the third quarter of 2020 on Thursday, citing a dip in demand for services due to the Covid-19 pandemic, numerous devastating storms that disrupted operations in the Gulf, and a drop in activity in the oil patch.

The Houston-based barge line posted $27.4 million net earnings over the third quarter of 2019, a 43% drop compared to $48 million in the same quarter of 2019. Earnings per share were 46 cents during the quarter, compared...

https://www.workboat.com/news/coastal-inland-waterways/hurricanes-covid-19-impact-kirbys-earning-report/

Revenue decline dampens Canadian Pacific’s Q3 profit

A photograph of a Canadian Pacific train traveling by a lake.

A decline in revenue dampened Canadian Pacific’s (NYSE: CP) profits for the third quarter.

CP’s net income was C$598 million (US$453 million), or $4.41 per diluted share, for the third quarter of 2020, compared with $618 million, or $4.46 per diluted share, in the third quarter of 2019. This was a 3% decline year-over-year. All figures are in Canadian dollars. 

“This quarter played out as we expected. Following our record Q2 performance, we steadily built momentum through the quarter and finished...

https://s29755.pcdn.co/news/revenue-decline-dampens-canadian-pacifics-q3-profit

Greenbrier scales down and loses weight

A photograph of a tank car.

Railcar manufacturer and lessor Greenbrier (NYSE: GBX) has cut its North American workforce by 40%, limited its production capacity and idled manufacturing at its flagship facility in Oregon, all to survive the storm brought about by the coronavirus pandemic and the recession.

“Greenbrier, in the face of the dual challenges of the pandemic and the economy, has taken swift, decisive and difficult actions. Undoubtedly, more will be demanded of us in the months ahead. Yet I am confident that...

https://www.freightwaves.com/news/greenbrier-scales-down-and-loses-weight