Kirby Corporation · NYSE:KEX

Kirby — Q2 2022 Earnings Presentation

12 slides from Kirby's earnings presentation, Jul 28, 2022

  1. Slide 1: 2Q 2022 Earnings Conference Call

    2Q 2022 Earnings Conference Call July 28, 2022

  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 2022 Overview

    2Q 2022 Overview Financial Summary $ millions except earnings per share 2Q 2022 2Q 2021 Variance % 1Q 2022 Variance % Revenues $ 698.0 $ 559.6 $ 138.4 25% $ 610.8 $ 87.2 14% Operating income 46.5 24.0 22.5 94% 29.7 16.8 57% Net earnings attributable to Kirby 28.5 10.2 18.3 179% 17.4 11.1 64% Earning

  4. Slide 4: Marine Transportation – 2Q Overview

    Marine Transportation – 2Q Overview Market fundamentals improving, but rising fuel costs and inflation impacted margins Inland  Improved market conditions – Spot market rates increased sequentially and year-on-year – Term contracts renewed higher  Strong market with barge utilization in the low 90

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

    Distribution & Services – 2Q Overview Strong markets drive sequential and year-on-year growth in revenue and operating margin; supply chain headwinds continued Oil and Gas  Continued favorable commodity prices with increased rig count and completions activity  Strong demand for new transmissions a

  6. Slide 6: Marine Transportation

    Marine Transportation 2Q 2022 Financial Summary $ millions 2Q 2022 2Q 2021 Variance % 1Q 2022 Variance % Revenue $ 405.7 $ 332.9 $ 72.8 22% $ 355.5 $ 50.2 14% Operating income 30.8 18.5 12.3 66% 16.9 13.9 82% Operating margin 7.6% 5.6% 2.0% 4.8% 2.8%  Inland – Contributed 78% of marine transportati

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 2Q 2022 Update and FY 2022 Outlook Inland 2Q 2022 FY 2022 (estimated) (barrels in millions) Barges Barrels Barges Barrels Beginning of period 1,025 22.9 1,025 22.9 Additions: Reactivations 9 0.1 11 0.2 Reductions: Retirements - - - - End of period 1,034 23.0 1,036

  8. Slide 8: Distribution & Services

    Distribution & Services 2Q 2022 Financial Summary $ millions 2Q 2022 2Q 2021 Variance % 1Q 2022 Variance % Revenue $ 292.3 $ 226.7 $ 65.6 29% $ 255.2 $ 37.1 15% Operating income 16.7 6.2 10.5 169% 11.0 5.7 52% Operating margin 5.7% 2.7% 3.0% 4.3% 1.4%  Oil and Gas – Revenues up 52% year-on-year and

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

    Balance Sheet, Capital Expenditures, and Liquidity As of June 30, 2022 Total Cash and Available Debt Cash Equivalents Liquidity $1.14B $25M $879M  2Q 2022 Results – Net cash provided by operating activities: $63 million – Proceeds from retired asset sales: $9 million – Capital expenditures: $44 mil

  10. Slide 10: Marine Transportation – FY 2022 Outlook

    Marine Transportation – FY 2022 Outlook A strong inland barge market is expected to drive improved financial results  Inland – Strong market fundamentals driven by favorable refinery and chemical plant utilization, increased volumes, and minimal new barge construction – Barge utilization expected t

  11. Slide 11: Distribution & Services – FY 2022 Outlook

    Distribution & Services – FY 2022 Outlook Anticipate strong markets will lead to material growth in revenue and operating income  Oil and Gas – Favorable oil prices expected to drive continued improvement in U.S. rig and frac activity – Seeing robust demand for new transmissions, parts, and service

  12. Slide 12: Slide 12

Kirby — Q2 2022 Earnings Presentation on 6ix