Kirby Corporation · NYSE:KEX

Kirby — Q3 2023 Earnings Presentation

12 slides from Kirby's earnings presentation, Oct 26, 2023

  1. Slide 1: 3Q 2023 Earnings Conference Call

    3Q 2023 Earnings Conference Call October 26, 2023

  2. Slide 2: Disclosures

    Disclosures Forward Looking Statements Statements contained in this conference call with respect to the future are forward-looking statements. These statements reflect management’s reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual r

  3. Slide 3: 3Q 2023 Overview

    3Q 2023 Overview Financial Summary $ millions except earnings (loss) per share 3Q 2023 3Q 2022 Variance % 2Q 2023 Variance % Revenues $ 764.8 $ 745.8 $ 19.0 3% $ 777.2 $ (12.5) -2% Operating income 93.5 58.9 34.6 59% 87.3 6.2 7% Net earnings attributable to Kirby 63.0 39.2 23.8 61% 57.4 5.6 10% Earn

  4. Slide 4: Marine Transportation – 3Q Overview

    Marine Transportation – 3Q Overview Favorable market conditions with strong demand and limited availability of barges, but impacted by temporary challenges Inland  Continuous pricing improvements – Spot market rates increased sequentially and year-over-year – Term contracts renewed at high single d

  5. Slide 5: Distribution & Services – 3Q Overview

    Distribution & Services – 3Q Overview Solid demand with steady levels of service and repair work combined with strong backlog Oil and Gas  Persistent supply chain issues delayed new equipment deliveries in manufacturing  Continue to receive new orders of environmentally-friendly pressure pumping e

  6. Slide 6: Marine Transportation 3Q 2023 Financial Summary

    Marine Transportation 3Q 2023 Financial Summary $ millions 3Q 2023 3Q 2022 Variance % 2Q 2023 Variance % Revenue $ 429.9 $ 433.0 $ (3.1) -1% $ 427.0 $ 2.9 1% Operating income 63.5 41.7 21.8 52% 64.3 (0.8) -1% Operating margin 14.8% 9.6% 5.2% 15.0% -0.2%  Inland – Contributed 82% of marine transport

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 3Q 2023 Update and FY 2023 Outlook Inland 3Q 2023 FY 2023 (estimated) (barrels in millions) Barges Barrels Barges Barrels Beginning of period 1,045 23.3 1,037 23.1 Additions: Reactivations/new builds/acquisitions 26 0.3 36 0.5 Reductions: Retirements - - - - End of

  8. Slide 8: Distribution & Services 3Q 2023 Financial Summary

    Distribution & Services 3Q 2023 Financial Summary $ millions 3Q 2023 3Q 2022 Variance % 2Q 2023 Variance % Revenue $ 334.9 $ 312.8 $ 22.1 7% $ 350.3 $ (15.4) -4% Operating income 33.2 22.3 10.9 49% 29.8 3.4 11% Operating margin 9.9% 7.1% 2.8% 8.5% 1.4%  Oil and Gas – Revenues declined 16% year-over

  9. Slide 9: Balance Sheet, Capital Expenditures, and Liquidity

    Balance Sheet, Capital Expenditures, and Liquidity As of September 30, 2023 Total Cash and Available Debt Cash Equivalents Liquidity $1.07B $42M $451M  3Q 2023 Results – Net cash provided by operating activities: $96 million – Repurchased 290,255 shares at an average price of $80.31 for $23 million

  10. Slide 10: Marine Transportation – 4Q 2023 Outlook

    Marine Transportation – 4Q 2023 Outlook Strong market conditions despite temporary headwinds  Inland – Favorable market conditions driven by high refinery and petrochemical plant utilization, and minimal new barge construction, partially offset by near-term issues, increase in delay days due to nor

  11. Slide 11: Distribution & Services – 4Q 2023 Outlook

    Distribution & Services – 4Q 2023 Outlook Steady demand in commercial and industrial with favorable oilfield fundamentals which is expected to continue into 2024  Commercial and industrial – Steady growth in on-highway, power generation, and marine repair markets, partially offset by lower rental e

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Kirby — Q3 2023 Earnings Presentation on 6ix