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BRIEF-Kirby Corp completes the purchase of Stewart & Stevenson LLC and reports on the impact of Hurricanes Harvey and Irma
September 13, 2017 / 9:13 PM / 13 days ago

BRIEF-Kirby Corp completes the purchase of Stewart & Stevenson LLC and reports on the impact of Hurricanes Harvey and Irma

Sept 13 (Reuters) - Kirby Corp

* Kirby Corporation completes the purchase of Stewart & Stevenson LLC and reports on the impact of Hurricanes Harvey and Irma

* Kirby Corp- Hurricanes Harvey and Irma caused little damage to Kirby Vessels and minor flooding to one facility

* Kirby Corp - ‍Expect lost revenues and costs associated with recovery efforts for both hurricanes to impact Q3 earnings by $0.06 - $0.08 per share​

* Kirby - ‍“Believe Q3 earnings results will fall within our previously provided guidance range, although towards low end after negative impact from storms”​

* Kirby Corp - ‍Irma has also significantly disrupted offshore business​

* “While purchase price allocations are not final, we expect transaction to be $0.02 - $0.04 per share accretive to 2017 Q4 earnings”

* Kirby Corp - ‍Storm disrupted over 50% of U.S. petrochemical capacity and over 25% of refinery capacity, though many plants returned to normal operations​ Source text for Eikon: Further company coverage:

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