Kirby Corp (NYSE:KEX) Q2 2021 Earnings Conference Call July 29, 2021 8:30 AM ET Company Participants Eric Holcomb - VP, IR David Grzebinski - President, CEO & Director William Harvey - EVP & CFO Conference Call Participants Jack Atkins - Stephens Inc. Kenneth Hoexter - Bank of America Merrill Lynch Jonathan Chappell - Evercore ISI Randall Giveans - Jefferies Benjamin Nolan - Stifel, Nicolaus & Company Gregory Lewis - BTIG William Baldwin - Baldwin Anthony Securities Operator Thank you for standing by, and w ...

(Exact name of registrant as specified in its charter) Nevada 74-1884980 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2021 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 1-7615 KIR ...

Kirby Corporation (NYSE:KEX) Q1 2021 Earnings Conference Call April 29, 2021 8:30 AM ET Company Participants Eric Holcomb - Vice President, Investor Relations David Grzebinski - President & Chief Executive Officer Bill Harvey - Executive Vice President & Chief Financial Officer Conference Call Participants Jack Atkins - Stephens Randy Giveans - Jefferies Ken Hoexter - Bank of America Jon Chappell - Evercore ISI Greg Lewis - BTIG Ben Nolan - Stifel Justin Bergner - G. Research Operator Good morning and welco ...

1Q 2021 Earnings Conference Call April 29, 2021 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 results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competiti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 For the transition period from to Commission File no. 1-07615 Kirby Corporation (Exact name of registrant as specified in its charter) Nevada 74-1884980 (State or other jurisdiction of incorpora ...

Kirby Corporation (NYSE:KEX) Q4 2020 Earnings Conference Call January 28, 2021 8:30 AM ET Executives Eric Holcomb - VP, IR David Grzebinski - President and CEO Bill Harvey - EVP and CFO Analysts Jack Atkins - Stephens, Inc. Jon Chappell - Evercore ISI Ken Hoexter - Bank of America Randy Giveans - Jefferies Greg Lewis - BTIG Ben Nolan - Stifel Nicolaus Operator Good morning, and welcome to the Kirby Corporation 2020 Fourth Quarter Earnings Conference Call. [Operator Instructions] Please note this event is be ...

4Q 2020 Earnings Conference Call January 28, 2021 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 results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 1-7615 KIRBY CORPORATION (Exact name of registrant as specified in its charter) Nevada 74-1884980 (State or other jurisdiction of incorporation or organization) (IRS Employer I ...

Financial Data and Key Metrics Changes - Kirby Corporation reported Q3 2020 earnings of $0.46 per share, significantly impacted by COVID-19 and reduced demand for products and services [8] - Marine Transportation revenues were $320.6 million with an operating income of $32.4 million, reflecting a 16% decline from the previous quarter [21][22] - Distribution and Services revenues increased by 10% sequentially to $176 million, with operating income returning to slightly above breakeven [27][15] Business Line Data and Key Metrics Changes - In Marine Transportation, inland and coastal markets faced reduced volumes, with average barge utilization in the low 70% range for inland and mid-70% for coastal [14][24] - Distribution and Services saw a sequential improvement in commercial and industrial sectors, with increased demand for truck repairs and power generation [15][27] - The oil and gas market showed signs of recovery, with active frac crews increasing from about 50 to over 100 by the end of Q3 [19] Market Data and Key Metrics Changes - Refinery utilization averaged only 78%, significantly below the five-year average of 93% [11] - Chemical plant utilization was at 74%, still below levels experienced in 2018 and 2019 [12] - Spot market rates for refined products, crude, and black oil declined approximately 10% sequentially [24] Company Strategy and Development Direction - The company is focused on cost control, capital discipline, cash generation, and debt reduction during the downturn [41] - Kirby is exploring opportunities in decarbonization and alternative fuels, including ammonia and methanol, to align with long-term growth trends [78][82] - The company plans to maintain a strong position in the market by leveraging its expertise in environmentally-friendly pressure pumping equipment [53] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about gradual economic recovery, with expectations for improved activity levels in 2021 [39][52] - The fourth quarter is anticipated to be challenging due to seasonality and continued low barge utilization [41][44] - Management highlighted the importance of economic activity, particularly in driving refinery and chemical plant utilization [60] Other Important Information - The effective tax rate benefit in Q3 was due to net operating losses carried back to prior higher tax years under the CARES Act [34][102] - The company expects capital expenditures for the full year to be approximately $150 million, a 40% reduction compared to 2019 [33] Q&A Session Summary Question: What is driving customer demand trends in the inland market? - Management indicated that economic activity, particularly miles driven, is crucial for increasing demand from refineries and chemicals [59][60] Question: When might the company consider stock buybacks given its current valuation? - Management acknowledged the stock's attractive valuation but emphasized a focus on debt reduction before committing to buybacks [68][69] Question: How is the company addressing the decarbonization trend? - Management confirmed active participation in decarbonization initiatives and development of ESG-friendly products, including electric frac units [78][82] Question: What factors contributed to the better-than-expected performance in Distribution and Services? - Cost savings and the shipment of environmentally-friendly frac units were key contributors to the improved performance [96][98] Question: What is the outlook for tax expenses in the upcoming quarters? - Management suggested using a tax rate of around 5% for Q4 2020, with expectations for volatility in future tax rates [102][104]

3Q 2020 Earnings Conference Call October 29, 2020 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 results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competi ...