Kirby Corporation · NYSE:KEX

Kirby — Q1 2023 Earnings Presentation

12 slides from Kirby's earnings presentation, Apr 27, 2023

  1. Slide 1: 1Q 2023 Earnings Conference Call

    1Q 2023 Earnings Conference Call April 27, 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: 1Q 2023 Overview

    1Q 2023 Overview Financial Summary $ millions except earnings (loss) per share 1Q 2023 1Q 2022 Variance % 4Q 2022 Variance % Revenues $ 750.4 $ 610.8 $ 139.6 23% $ 730.2 $ 20.2 3% Operating income 61.5 29.7 31.8 107% 57.7 3.8 6% Net earnings attributable to Kirby 40.7 17.4 23.3 134% 37.3 3.4 9% Earn

  4. Slide 4: Marine Transportation – 1Q Overview

    Marine Transportation – 1Q Overview Market fundamentals strong, but weather delays impacted results Inland  Strong market conditions – Spot market rates increased sequentially and year-over-year – Term contracts renewed higher low double digits year-over-year  Delays due to weather and locks impac

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

    Distribution & Services – 1Q Overview Strong markets drive sequential and year-on-year growth in revenue and operating margin Oil and Gas  Favorable commodity prices with increased rig count and completions activity  Strong demand for new engines, transmissions, and parts in distribution  Increas

  6. Slide 6: Marine Transportation: 1Q 2023 Financial Summary

    Marine Transportation 1Q 2023 Financial Summary $ millions 1Q 2023 1Q 2022 Variance % 4Q 2022 Variance % Revenue $ 412.5 $ 355.5 $ 57.0 16% $ 422.7 $ (10.2) -2% Operating income 43.0 16.9 26.1 154% 46.7 (3.7) -8% Operating margin 10.4% 4.8% 5.6% 11.1% -0.7%  Inland – Contributed 82% of marine trans

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 1Q 2023 Update and FY 2023 Outlook Inland 1Q 2023 FY 2023 (estimated) (barrels in millions) Barges Barrels Barges Barrels Beginning of period 1,037 23.1 1,037 23.1 Additions: Reactivations/new builds 6 0.1 16 0.3 Reductions: Retirements - - - - End of period 1,043

  8. Slide 8: Distribution & Services: 1Q 2023 Financial Summary

    Distribution & Services 1Q 2023 Financial Summary $ millions 1Q 2023 1Q 2022 Variance % 4Q 2022 Variance % Revenue $ 337.9 $ 255.2 $ 82.7 32% $ 307.4 $ 30.5 10% Operating income 22.8 11.0 11.8 107% 17.1 5.7 34% Operating margin 6.7% 4.3% 2.4% 5.5% 1.2%  Oil and Gas – Revenues up 38% year-on-year an

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

    Balance Sheet, Capital Expenditures, and Liquidity As of March 31, 2023 Total Cash and Available Debt Cash Equivalents Liquidity $1.08B $27M $419M  1Q 2023 Results – Net cash flow provided by operating activities: $16 million – Proceeds from retired asset sales: $8 million – Capital expenditures: $

  10. Slide 10: Marine Transportation – FY 2023 Outlook

    Marine Transportation – FY 2023 Outlook A strong inland barge market is expected to significantly improve financial results  Inland – Expecting a strong market driven by economic growth, increased volumes, and minimal new barge construction – Barge utilization expected to be low to mid-90% range –

  11. Slide 11: Distribution & Services – FY 2023 Outlook

    Distribution & Services – FY 2023 Outlook Anticipate strong markets will lead to material growth in revenue and operating income  Commercial and industrial – Expect strong markets will drive revenue growth for on-highway, power generation, and marine repair – Full year revenue growth in the low dou

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Kirby — Q1 2023 Earnings Presentation on 6ix