Thank you, Bill.
$X.XX the to million to previous guidance previously reduced $XXX we earnings spending guidance As the $X.XX of our This midpoint discussed, have a did $X.XX per reaffirm press to share. We million $XXX a in range. of reduction earlier to share release today. XXXX our represents capital our guidance
Looking scheduled volumes mid-XX% to range. bringing tight the at to barge capacity the should the Coast, the in Permian Gulf expect inland this segments, additional With in online solid of remain modest additional pipelines marine transportation, we with come petrochemical and increases utilization and GDP, activity market balance new through crude XXXX. our strong believe will year demand, in remain rates for our customer we
we operations inland well water experienced will conditions third along be delays the by high recent the Coast in our on hurricane challenged to quarter, near-term earlier third marine with a the River, quarter. the Mississippi associated In as Gulf continue
the to to of market, by will improved in quarter quarter. improvement quarter. utilization mid-XX% operating should the in inland second pricing margins in remainder efficiencies revenues we with better sequential to low our expected In the for for the be weather and margin business yield expect revenue third modest XXXX, in remain the and third generated coastal increased operating and the range However, similar
increase the margins Overall, revenue In marine the double vessels single operating we income. on in to now range. quarter, the the seasonal Alaska reduced and activity to revenues XXXX, will in to large in year-on-year with fourth for expect transportation increased digits end in in several however, shipyard digits mid-to-high operating result and mid-teens activity low
in for large the reduced Distribution our outlook system installations. and gas revenues to half and to decline Services due I've the quarter, For already, commercial third sector. In we generation covered expect primarily our segment, largely industrial power oil markets, and the second
months be activity the will service Additionally repair the improve, waterways the as that in of reduced on water of conditions in expect utilization inland dry should business. much from partially distribution pressure equipment is summer likely higher reductions rental These marine be quarter, available compared along revenue Coast. area deliveries generation generation services, quarter needed power and catch-up with in our delays. power we offset cargo towboat the the total, to decline It horsepower by mid-teens to pumping expect our fleet the reduced drivers. In third second to main percentage season in range we and for being Gulf the the during backup storm of
margins to be sequentially, reductions Operating keeping ongoing slightly stable. are with relatively margins expected down cost
transmissions year, the The end the digits high and full year-on-year. are transmission gas be of and engines, new of lower parts, related. including mid- gas expect assumes we to Overall, and pressure margins in equipment. industrial XX% and to and lower composition high be orders approximately pumping and expected the single single-digit guidance, reduced further the the full demand the remanufactured and range. For expected limited minimal for to revenues end in overhauls our distribution Operating for year and related the revenue oil is full weakness to volumes oil services, market, year XX% commercial for decline for in
contribution part The the high overhauls meaningful incremental businesses, assumes and equipment distribution sales. pricing orders transmission oil improvement and pressure and in some also as remanufacturing gas improved conditions volumes from equipment as pumping including and for marine well momentum. related greater further and and operating inland It of assumes services, end
Now sum marine despite things had overall, a bounced first delay a increased nicely, back following we challenging second quarter. to Inland days. quarter, up, good
improved a higher. to contracts and In profit, continue renew coastal, we rates generated utilization term
potential. in cuts put strong the field, in sheet it key nearly have oil spending and earnings to our on fleet during of several inland cycle. long-term about Kirby the excited than As uncertainty forward, larger near-term Kirby's remain and acquisitions, the bottom we to integrating the was barrel is positioned despite capacity in In XX% at we capitalize marine, which XXXX. up cycle outlook downturn, work look Today and well completing successfully we the balance our
and in continued by actions large and coming most in horsepower the vessels term fourth XXXX, In year, We as history position into our have show In more as to are capacity profitability reduce return consistently to positioned is contract and should With positive in starting contracts youngest are we behind demand the equipment several quarter, continue improve our the the higher recovery be the in major for second the will ready this our of some shipyards for have majors, with we being on current anticipate of be the in deliver increases in strong momentum, the marine quarters shipyard quarter. our to which of brought and structure forward delivering to renewals most revenue new paid us and a fleet earnings coastal market evidenced to the off coastal, XXXX. in the efficient largest, end to and pricing benefits. results horizon rightsize our continues. efficiency the have earnings cost fleet, inland by the to
and oil contributor the to will temporary and the some the the activities services, on optimistic near our minimal investment equipment reduced the be related field of some few significant are and and is and believe and gas businesses. unsustainable energy oil supply for and it this so returns remain distribution existing oil we near-term next represents future, at while challenges Shale world's reverse gas decades. levels maintenance will The for in a we point. outlook trend long-term U.S. In for
do, activity on capacity interest positioned there well and to to reduce are the Pipelines in completion footprints. when Kirby ramp-up. from improve and they efficiencies coming expected significant new opportunities. operating Permian is customer should online to continues these Additionally, soon start capitalize be fleet horsepower environmental to
non-captive we're provider pressure world. new Today, the in largest and the remanufactured pumping equipment
a transmission Well the and noise We sales near-term capabilities believe challenging, experience our U.S. may our be increased on and shareholders territory and be us capitalize of reducing equipment. years. will in and have and leading places that rewarded firmly the Furthermore, to firm of engines coming electric covers in in distribution I oilfield. position wide service nicely fracturing OEM This majority high-efficiency the the parts.
that Operator, remarks. prepared our concludes
now ready to take We are questions.
