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KIRBY CORPORATION

(KEX)
  Report
Delayed Nyse  -  04:00:01 2023-01-26 pm EST
65.12 USD   +0.25%
01/25Kirby Corp : Change in Directors or Principal Officers (form 8-K)
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01/24Kirby Corporation Appoints Susan W. Dio to Board of Directors
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01/24Kirby Corporation Appoints Susan W. Dio to Board of Directors
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Kirby : Reconciliation of GAAP net earnings attributable to Kirby to non-GAAP EBITDA Q3 2022

10/18/2022 EST

KIRBY CORPORATION

Reconciliation of GAAP to Non-GAAP Financial Measure

Kirby reports its financial results in accordance with generally accepted accounting principles (GAAP). However, Kirby believes that the non-GAAP financial measure Adjusted EBITDA is useful in managing Kirby's businesses and evaluating Kirby's performance.

Adjusted EBITDA, which Kirby defines as net earnings (loss) attributable to Kirby before interest expense, taxes on income, depreciation and amortization, impairment of long-lived assets, and impairment of goodwill is used because of its wide acceptance as a measure of operating profitability before non-operating expenses (interest and taxes) and noncash charges (depreciation and amortization, impairment of long-lived assets, and impairment of goodwill). Adjusted EBITDA is one of the performance measures used in Kirby's incentive bonus plan. Adjusted EBITDA is also used by rating agencies in determining Kirby's credit rating and by analysts publishing research reports on Kirby, as well as by investors and investment bankers generally in valuing companies.

This non-GAAP financial measure is not a substitute for GAAP financial results and should only be considered in conjunction with Kirby's financial information that is presented in accordance with GAAP.

Quantitative reconciliations of GAAP net earnings attributable to Kirby to Non-GAAP Adjusted EBITDA are provided in the following tables.

Prepared on: October 24th, 2022

1

Prepared on: October 24th, 2022

2

KIRBY CORPORATION

Reconciliation of GAAP Net Earnings Attributable to Kirby to Non-GAAP Adjusted EBITDA

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

($ in millions)

Net earnings (loss) attributable to Kirby

$ (247.0)

$ (272.5)

$142.4

$ 78.5

$313.2

$141.4

$226.7

$282.0

$253.1

$209.4

Interest expense

42.5

48.7

56.0

46.9

21.5

17.7

18.8

21.5

27.9

24.4

Provision (benefit) for taxes on income

(43.8)

(189.8)

46.8

35.0

(240.8)

85.0

133.7

169.8

152.3

127.9

Impairment of long-lived assets

121.7

165.3

-

82.7

105.7

-

-

-

-

-

Impairment of goodwill

219.0

388.0

-

2.7

-

-

-

-

-

-

Depreciation and amortization

213.7

219.9

219.6

225.0

202.8

200.9

192.2

169.3

164.4

145.2

Adjusted EBITDA, Non-GAAP

$ 306.1

$ 359.6

$464.8

$470.8

$402.4

$445.0

$571.4

$642.6

$597.7

$506.9

Prepared on: October 24th, 2022

3

Disclaimer

Kirby Corporation published this content on 18 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2022 11:39:04 UTC.


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Financials (USD)
Sales 2022 2 769 M - -
Net income 2022 124 M - -
Net Debt 2022 1 015 M - -
P/E ratio 2022 31,7x
Yield 2022 -
Capitalization 3 900 M 3 900 M -
EV / Sales 2022 1,78x
EV / Sales 2023 1,54x
Nbr of Employees 5 125
Free-Float 90,5%
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Technical analysis trends KIRBY CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 65,12 $
Average target price 82,00 $
Spread / Average Target 25,9%
EPS Revisions
Managers and Directors
David W. Grzebinski President, Chief Executive Officer & Director
Raj Kumar Chief Financial Officer & Executive Vice President
Joseph H. Pyne President
Scott P. Miller Chief Information Officer & Vice President
Richard Ross Stewart Independent Director
Sector and Competitors