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


Wednesday, 13 Sep 2017 05:05pm EDT 

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​.