Kirby Corporation · NYSE:KEX

Kirby — Q3 2022 Earnings Presentation

12 slides from Kirby's earnings presentation, Oct 24, 2022

  1. Slide 1: 3Q 2022 Earnings Conference Call

    3Q 2022 Earnings Conference Call October 24, 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: 3Q 2022 Overview

    3Q 2022 Overview Financial Summary $ millions except earnings per share 3Q 2022 3Q 2021 Variance % 2Q 2022 Variance % Revenues $ 745.8 $ 598.9 $ 146.9 25% $ 698.0 $ 47.8 7% Operating income 58.9 (316.9) 375.8 119% 46.5 12.4 27% Net earnings attributable to Kirby 39.1 (264.7) 303.8 115% 28.5 10.6 37%

  4. Slide 4: Marine Transportation – 3Q Overview

    Marine Transportation – 3Q Overview Market fundamentals improving, but rising fuel costs and inflation impacted margins Inland  Strong market conditions – Spot market rates increased sequentially and year-over-year – Term contracts renewed higher  Tight market conditions with barge utilization in

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

    Distribution & Services – 3Q 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 3Q 2022 Financial Summary $ millions 3Q 2022 3Q 2021 Variance % 2Q 2022 Variance % Revenue $ 433.0 $ 338.5 $ 94.5 28% $ 405.7 $ 27.3 7% Operating income 41.7 16.9 24.8 147% 30.8 10.9 35% Operating margin 9.6% 5.0% 4.6% 7.6% 2.0%  Inland – Contributed 80% of marine transportati

  7. Slide 7: Barge Construction and Retirements

    Barge Construction and Retirements 3Q 2022 Update and FY 2022 Outlook Inland 3Q 2022 FY 2022 (estimated) (barrels in millions) Barges Barrels Barges Barrels Beginning of period 1,034 23.0 1,025 22.9 Additions: Reactivations 1 0.0 16 0.3 Reductions: Retirements - - - - End of period 1,035 23.0 1,041

  8. Slide 8: Distribution & Services

    Distribution & Services 3Q 2022 Financial Summary $ millions 3Q 2022 3Q 2021 Variance % 2Q 2022 Variance % Revenue $ 312.8 $ 260.4 $ 52.4 20% $ 292.3 $ 20.5 7% Operating income 22.3 11.0 11.3 103% 16.7 5.6 34% Operating margin 7.1% 4.2% 2.9% 5.7% 1.4%  Oil and Gas – Revenues up 37% year-on-year and

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

    Balance Sheet, Capital Expenditures, and Liquidity As of September 30, 2022 Total Cash and Available Debt Cash Equivalents Liquidity $1.1B $37M $521M  3Q 2022 Results – Net cash provided by operating activities: $66 million – Proceeds from sales of retired marine assets: $10 million – Capital expen

  10. Slide 10: Marine Transportation – 4Q 2022 Outlook

    Marine Transportation – 4Q 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 – 4Q 2022 Outlook

    Distribution & Services – 4Q 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 steady demand for new transmissions, parts, and service

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Kirby — Q3 2022 Earnings Presentation on 6ix