Kirby Corporation · NYSE:KEX

Kirby — Q1 2024 Earnings Presentation

12 slides from Kirby's earnings presentation, Apr 25, 2024

  1. Slide 1: 1Q 2024 Earnings Conference Call

    1Q 2024 Earnings Conference Call April 25, 2024

  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: 1Q 2024 Overview

    1Q 2024 Overview Financial Summary $ millions except earnings (loss) per share 1Q 2024 1Q 2023 Variance % 4Q 2023 Variance % Revenues $ 808.0 $ 750.4 $ 57.6 8% $ 799.2 $ 8.8 1% Operating income 101.5 61.5 40.0 65% 92.8 8.7 9% Net earnings attributable to Kirby 70.1 40.7 29.4 72% 61.9 8.2 13% Earning

  4. Slide 4: Marine Transportation – 1Q Overview

    Marine Transportation – 1Q Overview Strong market conditions, but modestly impacted by delay days Inland  Continuous pricing improvements – Spot market rates increased low to mid-single digits sequentially and approximately 15% year-over-year – Term contracts renewed higher low double digits year-o

  5. Slide 5: Distribution & Services – 1Q Overview

    Distribution & Services – 1Q Overview Stable demand with continued new orders and high levels of backlog Power Generation  Several large project wins in data center market  50% year-on-year growth with operating margins in the high single digits Oil and Gas  Softness in conventional frac market d

  6. Slide 6: Marine Transportation 1Q 2024 Financial Summary

    Marine Transportation 1Q 2024 Financial Summary $ millions 1Q 2024 1Q 2023 Variance % 4Q 2023 Variance % Revenue $ 475.4 $ 412.5 $ 62.9 15% $ 452.6 $ 22.8 5% Operating income 83.0 43.0 40.0 93% 68.2 14.8 22% Operating margin 17.5% 10.4% 7.1% 15.1% 2.4% Inland Coastal Y/Y % Q/Q % Y/Y % Q/Q % Term inc

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 1Q 2024 Update and FY 2024 Outlook 1Q 2024 Earnings 7

  8. Slide 8: Distribution & Services 1Q 2024 Financial Summary

    Distribution & Services 1Q 2024 Financial Summary 2024 Q1 Revenue Oil & $ millions 1Q 2024 1Q 2023 Variance % 4Q 2023 Variance % Gas Power 16% Revenue $ 332.6 $ 337.9 $ (5.3) -2% $ 346.6 $ (14.0) -4% Generation Operating income 22.0 22.8 (0.8) -4% 28.7 (6.7) -23% 41% Commercial Operating margin 6.6%

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

    Balance Sheet, Capital Expenditures, and Liquidity As of March 31, 2024 Total Cash and Available Debt Cash Equivalents Liquidity $1.06B $75M $491M  1Q 2024 Results – Net cash flow provided by operating activities: $123 million – Proceeds from retired asset sales: $2 million – Repurchased 498,505 sh

  10. Slide 10: Marine Transportation – 2024 Outlook

    Marine Transportation – 2024 Outlook Strong demand with tight supply allows to strengthen margins as 2024 progresses  Inland – Strong market conditions driven by high refinery activity, limited new barge construction, and a heavy year for industry maintenance combined with steady customer demand –

  11. Slide 11: Distribution & Services – FY 2024 Outlook

    Distribution & Services – FY 2024 Outlook Strong demand for power generation products coupled with new manufacturing orders  Power generation – Strong demand from data center and backup power markets – Expected to be ~40-45% of segment revenues  Commercial and industrial – Expect strong marine rep

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Kirby — Q1 2024 Earnings Presentation on 6ix