Statements contained in this presentation 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 competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions and timing, magnitude and number of acquisitions made by Kirby, and the impact of the COVID-19 pandemic and the related response of governments on global and regional market conditions. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby's annual report on Form 10-K for the year ended December 31, 2019 and in subsequent quarterly filings on Form 10-Q.
Kirby reports its financial results in accordance with generally accepted accounting principles (GAAP). However, Kirby believes that certain Non-GAAP financial measures are useful in managing Kirby's businesses and evaluating Kirby's performance. This presentation contains Non-GAAP financial measures including: Adjusted EBITDA; operating income, excluding one-time items; earnings before taxes on income, excluding one-time items; net earnings attributable to Kirby, excluding one-time items; and diluted earnings per share, excluding one-time items, and free cash flow. Please see the Appendix for a reconciliation of GAAP to Non-GAAP financial measures.
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Company Overview
Marine Transportation
The largest inland and coastwise tank barge
fleets in the United States
40 successful acquisitions
1,066 inland tank barges and 248 towboats*
65% of inland revenues under term contracts, of which approximately 66% were time charters in 2020
44 coastal tank barges and 44 tugboats
85% of coastal revenues under term contracts, of which approximately 90% were time charters in 2020
Distribution and Services
Nationwide service provider and distributor of
engines, transmissions, parts, industrial equipment and oilfield service equipment
20 successful acquisitions
Manufacturer, remanufacturer and service provider of oilfield service equipment
Provider of rental equipment including generators, material-handling equipment, pumps, and compressors for use in a variety of industrial markets
65% of 2020 Revenue
35% of 2020 Revenue
or $1.40 billion
or $767 million
Return on Capital Driven Investment Decisions
* Barge and boat counts for the quarter ended December 31, 2020
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Public Market Information
NYSE: KEX
Share Price
$54.17
on February 1, 2021
Shares Outstanding
60.1 MM
as of February 1, 2021
Market Capitalization
$3,255 MM
Net Debt*
$1,388 MM
as of December 31, 2020
Enterprise Value
$4,643 MM
* Net debt = Total debt less cash and cash equivalents
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Kirby Corporation published this content on 03 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2021 15:17:06 UTC.
Kirby Corporation is a domestic tank barge operator. The Company transports bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. The Company, through its marine transportation segment (KMT), transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barge. It also participates in the transportation of dry-bulk commodities in the United States coastwise trade. Through its distribution and services segment (KDS), it sells after-market service and genuine replacement parts for engines, transmissions, reduction gears and power generation equipment used in oil and gas and commercial and industrial applications. It also rents a variety of power generation and industrial equipment, manufactures and remanufactures oilfield service equipment, including pressure pumping units, and manufactures electric power generation equipment for oilfield service customers.
KIRBY CORPORATION 
