Kirby Corporation · NYSE:KEX

Kirby — Q2 2023 Earnings Presentation

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

  1. Slide 1: 2Q 2023 Earnings Conference Call

    2Q 2023 Earnings Conference Call July 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: 2Q 2023 Overview

    2Q 2023 Overview Financial Summary $ millions except earnings (loss) per share 2Q 2023 2Q 2022 Variance % 1Q 2023 Variance % Revenues $ 777.2 $ 698.0 $ 79.2 11% $ 750.4 $ 26.8 4% Operating income 87.3 46.5 40.8 88% 61.5 25.9 42% Net earnings attributable to Kirby 57.4 28.5 28.9 101% 40.7 16.7 41% Ea

  4. Slide 4: Marine Transportation – 2Q Overview

    Marine Transportation – 2Q Overview Strong market fundamentals with increased operational efficiency Inland  Strong market conditions – Spot market rates increased sequentially and year-over-year – Term contracts renewed higher low double digits year-over-year  Favorable navigational conditions,16

  5. Slide 5: Distribution & Services – 2Q Overview

    Distribution & Services – 2Q Overview Steady demand with continued new orders combined with strong backlog Oil and Gas  Stable oilfield activity despite recent headwinds in commodity prices  Strong demand for transmissions and parts in distribution  Increase in manufacturing orders and deliveries

  6. Slide 6: Marine Transportation: 2Q 2023 Financial Summary

    Marine Transportation 2Q 2023 Financial Summary $ millions 2Q 2023 2Q 2022 Variance % 1Q 2023 Variance % Revenue $ 427.0 $ 405.7 $ 21.3 5% $ 412.5 $ 14.5 4% Operating income 64.3 30.8 33.5 108% 43.0 21.2 49% Operating margin 15.0% 7.6% 7.4% 10.4% 4.6%  Inland – Contributed 82% of marine transportat

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 2Q 2023 Update and FY 2023 Outlook Inland 2Q 2023 FY 2023 (estimated) (barrels in millions) Barges Barrels Barges Barrels Beginning of period 1,043 23.2 1,037 23.1 Additions: Reactivations/new builds/acquisitions 2 0.1 36 0.5 Reductions: Retirements - - - - End of

  8. Slide 8: Distribution & Services: 2Q 2023 Financial Summary

    Distribution & Services 2Q 2023 Financial Summary $ millions 2Q 2023 2Q 2022 Variance % 1Q 2023 Variance % Revenue $ 350.3 $ 292.3 $ 58.0 20% $ 337.9 $ 12.3 4% Operating income 29.8 16.7 13.1 78% 22.8 7.0 31% Operating margin 8.5% 5.7% 2.8% 6.7% 1.8%  Oil and Gas – Revenues up 30% year-on-year and

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

    Balance Sheet, Capital Expenditures, and Liquidity As of June 30, 2023 Total Cash and Available Debt Cash Equivalents Liquidity $998M $37M $516M  2Q 2023 Results – Net cash flow provided by operating activities: $211 million – Repurchased 474,775 shares at an average price of $72.49 for $34 million

  10. Slide 10: Marine Transportation – FY 2023 Outlook

    Marine Transportation – FY 2023 Outlook Steady demand with limited availability of equipment is expected to improve financial results  Inland – Expecting a strong market driven by continued economic growth, increased volumes, and minimal new barge construction – Continued pricing improvements in sp

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

    Distribution & Services – FY 2023 Outlook Steady demand and favorable oilfield fundamentals will lead to growth in revenue and operating income  Commercial and industrial – Expect steady markets will drive revenue growth for on-highway, power generation, and marine repair – Full year revenue growth

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Kirby — Q2 2023 Earnings Presentation on 6ix