David W. Grzebinski
customers impacted our communities refining Joe, personally but was Intracoastal Harvey were online. in like and along high and of had Maria, many customers and Many their work, by you, damage. Hurricane everyone. marine morning and hurricanes, where commercial our the chains disrupted brought refineries and live commending affected customers' tremendous and Christi Coast. lesser operations of to the Through us Waterway generous Harvey, East employees western Harvey, facilities. face Kirby their all, communities it all storms. system east I'd Houston and area way coastal and of to teams our significant through Corpus and spirit the we operated Thank their creatively many It joining good disruption our diligently meet than safely back for today. the right. and the to customers' facilities property needs, Hurricanes operations storm start worked Louisiana. for and the shut impact Irma and still Thank by our major moved you and Irma All our landed plants the these team, floodwaters by services to petrochemical Maria to down particularly managed parts and damage a distribution in supply and as devastating and and businesses caused to to the of the as resiliency and
the involved in the to thank So, and hurricanes. all recovery response those you to
quarter. declines were move results. In million pricing or mainly The and quarter. then quarter, XX.X% marine a income recap The markets transportation XX% XXXX transportation due operating I'll marine lower in XX%, the the operating both marine segment as $XX.X to conditions of lower and to XXXX segment's declined $XX XX.X% marine the third coastal the marine transportation third In market, quarter the continued conclude revenue in the on with or an third third Hurricane at Gulf declined Q&A. our margin operating compared upriver approximately inland compared in third utilization. infrastructure now after deteriorated was further quarter operating Coast quarter in coinciding million to with update September. on on XXXX landfall end we'll the repairs and me our efficiency the August. decreased Harvey significantly Let Unrelated to and of go made guidance
the utilization This mid-XX% going increase hurricane revenues range for inland Initial per to loss share approximately in net the delay days, post-Harvey, X,XXX quarter under a roughly from quarter. barge third were the totaled mid-XX% utilization from to during the with the a higher the cost days from So led level. marked in $X.XX just year-ago range third and double quarter. tank
customers' The digits marine more attributable drove by delays result the XXXX charters year transportation and of contributed However, or contracts. as high-single the from quarter natural business to products higher for XX% were as the quarter marine time XX% to the cost for marine was compared the approximately excess inland share XXXX. in the to Contracts approximately contracts due pricing in customers longer transportation Long-term mid- one attributable the to during contributed quarter. during contracts and the the a than on of XX% quarter than third quarter of sector increase improved for demand. inland term was XXXX those in utilization with revenue of two-thirds concluded, to with slightly to recoveries pent-up transportation inland in offset affreightment $X.XX term that demand our quarter. tank third in in duration, contracts, and as and inland Pricing per continued down of revenue demand, Demand capacity our higher the barge to third deteriorate renewed system. due a in third
entering the quarter, tank utilization in the low- have capacity quarter. it quarter. a laid refined stable. The for first the in compared XXXX. barge temporarily As petroleum coastal new Revenues a exacerbated contract operating during were to in range year quarter transportation effect sector the from for the Including the Kirby's the products our to contracts mid-XX% transportation of the before, was black third with equipment the sector, Spot to market an lag lower mid- we've barges, coastal the in Kirby's term by months third were were transportation in of earnings petrochemicals was on XXXX discussed consistent margin barrel up inland the oversupply oil impact the high-teens of while In service. six to as coastwise takes of can marine generated full see earnings. to revenues renewals
we and moves makes it to of temporarily continue term when coastal contract equipment into evaluate piece up the We spot viability commercial of the market, if commercial from a lay sense. it each equipment
in this deteriorating stabilized the have to of first starting of utilization. margins actions aggressive Our XXXX quarter manage face in cost the somewhat
pricing, Regarding geography, below generally, based size, which contract varies vessel degree and on remain of coastal market the contract capabilities term being rates; vessel rates spot transported. product the
the in range was XXX,XXX quarter were quarter, spot than barrel barrel As third pricing XX,XXX of approximately in where third XXXX. lower for rates example the the an spot XX% vessels service in to clean
of term with XX%, revenue a six quarter. second at for both percentage approximately spot the stable term consistent spot The first and pricing However, revenue contracts XXXX lower was as coastal equipment. on XXXX was to contracts the result of under months compared mainly
acquisition one the a of inland coastal of the the in fleet for capacity. barges the barge barrel retired sector course to from In of After barge the our was took XX XX,XXX tank and XX,XXX in our mid-single XX two the net result that was tank folding asset of margin regards delivery in retirement decrease a the operating reduction negative quarter third we quarter. total plans, closed approximately barges in marine and for The early third of tank digits. over barrels the construction inland quarter,
we the the one our barges coastwise X.X XX,XXX of delivery year, ATB new remainder and of XXXX we a delivery with fleet, the final barrel barge took quarter of barges, one capacity. with one scrapped barrel and expect capacity. barrels Net, to inland For expect retire to million of of XXX approximately of to during more tank with XX,XXX of additional total quarter, XXX, representing barrel end addition In unit, we take four barrels million the capacity. the coastal approximately XXX barrels ending XX.X barge transportation we the XX,XXX sector,
Moving the X.X% from XXXX operating XXXX segment. quarter third the for quarter. third XXXX the operating on was services third compared for and the as $X.X The segment's million $XX X.X% with was and compared with income in income Revenue of for XXXX quarter quarter, increased third million to margin our distribution quarter. the XXX% operating
was digits. high-single of first up number similar margin operations, quarter, largely the fourth the as to third Pressure and XX% the pumping of remained quarter was including legacy third made and remanufacture on to The of segment's for with from composition and services the XXXX. the approximately revenue units margin S&S, the unit business comparable two the an XXXX. of half Our premises operating the in distribution XXXX of of first revenue strong, remanufacturing quarter land-based in quarters
continue elevated surpassing in the In quarter. equipment terms manufacturing, equipment set second quarter. the new new high rebuilt build we Demand third deliver quarter, frac all-time throughout remained to for our in of the and transmissions
engine in demand the sequentially, both We third stocks sale to marine revenues the At increased customers on the result revenues consistent gas oil cargo in parts markets. inland marine and power markets a services the due weak coastal overhaul and generation matures. business, our transmission pre-closing the slightly from the to of and transmissions second the distribution projects, timing Texas performance primarily market S&S than demand of standby have of hurricane-related marine continued demand XXXX and their dry and depleting expectations Operating in deferrals expansion received. and also that new saw major and XXXX as with in barge forecasts rental for were remainder Service based and as in we've in generation this markets services of lower of in of were services demand and offshore for year-over-year. distribution margins quarter, demand increased sales. Florida. slightly lack slightly line as S&S, was our and major projects were the new in started distribution quarter, services third the business elevated due with weaker quarter year-over-year and The tank of In lower was and sequentially activity primarily the
third share incurred On quarter. in corporate approximately S&S contribution the in we acquisition-related things, the third S&S the This for side amount $X.XX charges per $X.XX share per of the quarter in is in included acquisition. for
spending $XXX guidance We XXXX to changes to $XXX $XXX million, capital any of do not tax our Our rate. compared for prior million is to million expect million. $XXX to to updated guidance
uses full both guidance for XXXX. the a of XX% and approximately Our year fourth rate the of quarter
As S&S acquisition. balance increase $XXX from of September $X a December XX, as a million sheet XXXX, mainly total of the XXXX, debt XX, on was our result billion,
Our our third a the billion. debt-to-total debt cap quarter ratio $X.XXX today, the was of XXXX. from at December X.X% end increase of And at as XX, stands XX.X%,
and will share So, to $X.XX In our $X.XX move from guidance of last to fourth XXXX our full night, our $X.XX $X.XX on $X.XX now our updated to year we XXXX quarter outlook. share. per quarter press announced per I share release $X.XX guidance per fourth to to
almost seasonally quarter fourth You quarter. will recall, always weakest our is our
higher the range S&S to issuance in in increased the quarter, that for quarter In and impact the to the mirror quarter; comparable share range third considers So conditions reflect inland the normal by the acquisition. transportation to marine the caused approximately the operating and shares operating expect this in utilization seasonal S&S for hurricanes outstanding assumes share impact for third of as the quarter guidance the of inland stable quarter. fleet. includes per look fourth mid-XX% expense $X.XX We winter across and weather be we average the delay fourth fourth interest due in days demand market, mid-XX% the to to $X.XX effect the from patterns conditions a
The XXXX. on the it capacity inflicted industry as inland result the we grows pricing longer contemplates a guidance industry excess acute barge have throughout as updated pricing a to experienced pain unsustainably environment what Our remains of more similar persists, low.
in marine our to we fully assume continue laid and at contemplates to that and spot from the spot market, coastal temporarily including and In for up We cycle mid-XX% term range on this to flat inland expect renewing utilization low- guidance to reprice contracts the pricing grow the our equipment opportunities stronger. levels. assess contracts franchise We and range larger quarter. emerge
a new in to commercially costs and aggressive this year it negative guiding full do for and digit coastal are focus equipment the an coastal We We available on mid-single operating market business. maintain margin optimizing business.
equipment to services and recent work we the in remanufacturing segment of consistent legacy fourth our with service For land-based our distribution in and unit pressure from quarter sector, pumping expect remain new manufacturing trends. frac
overhauls transmissions anticipate of parts we sales transmission new We replace in some the for see some to demand as expect demand overhauls. quarter. We lower the incremental will slightly, of for and sale new fourth engines
guiding up are $X.XX share guidance of Regarding to $X.XX we S&S, share. the quarter, to $X.XX $X.XX fourth for prior per our per to from
by meet on we improve power the to the and demand distribution While In services current that revenue we work sequentially we ability land-based to customer early are quarter, the our the the lower summary, for than integration demand generation fourth will encouraged our to higher customers. projects. services have are normalized market, to already decline times offerings the there some so continued our an capacity far combined a levels major of much results started the The deferrals oversupplied expect all Though of do, in for our will oil quarter. an its market, potential we the though maintaining slightly by than market, equipment provided demonstrated optimizing In capacity face orders. our mix and timing cycle land-based marine profitability services services in the addition marine In distribution we services signs markets. slightly and been very marine well encouraging aggressively the XXXX ratable by execute by quarter available and has S&S our cycles. to more quarters customer levels, levels meeting due prior The and in to expect business, geographic and improving to while the fourth return distribution The delivery expect needs of over seasonal for The its fourth rental maintain anticipate conclusion, that its business inland comparable continues benefits tempered an customer sloppy has financial mirror managing of three and last XXXX. to strong product generally XXXX In in evidence equipment with should of expected flow the safely costs position excluding to of is and be in trend needs. in business coastal our has resilience optimizing distribution of performance business in cash fundamentals. scope free and market offerings acquisitions breadth. scale, of is already seen remains
a balance us for that powder consolidating clean affords dry have We plenty of acquisitions. sheet
And after acquisitions low out we position inland prime ratio to are even of marine to strategy acquisition. a our debt-to-cap our building in remains and XX% through the do are S&S Our of franchise so. in environment committed established an we
concludes operator, that, with ready prepared to that questions. now take So remarks. our We're
