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KIRBY CORPORATION

(KEX)
  Report
Delayed Nyse  -  04:00:02 2023-02-06 pm EST
73.48 USD   -0.66%
02/03Kirby Corp : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events (form 8-K)
AQ
02/03Kirby Corporation Appoints Rocky B. Dewbre to Board of Directors
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02/03Kirby Corporation Appoints Rocky B. Dewbre to Board of Directors
AQ
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Kirby : Reconciliation of GAAP to Non-GAAP Financial Measures Excluding One-time Items Q1 2022

04/20/2022 EST

KIRBY CORPORATION

Reconciliation of GAAP to Non-GAAP Financial Measures Excluding One-Time Items

(unaudited, $ in millions except per share amounts)

Full Year 2021

NetOperating Income (Loss)

Earnings EarningsDiluted Earnings

(Loss) (Loss) Attr. (Loss) perBefore Tax KirbyShare

GAAP earnings (loss)

$ (258.1) $ (290.6) $ (247.0) $ (4.11)

One-time items:

- Impairments and other charges

340.7

- Louisiana tax law change

-

Earnings, excluding one-time items(1)

$

82.6

$

340.7

275.0

4.58

-

5.7

0.09

50.1

$

33.7

$

0.56

Full Year 2020

Full Year 2019

Full Year 2018

Full Year 2017

NetOperating Income (Loss)

Earnings EarningsDiluted EarningsNet Earnings

(Loss) (Loss) Attr. (Loss) perBefore Tax KirbyShareOperating IncomeEarnings Before Tax

Attr. Kirby

Diluted Earnings per Share

Net Earnings

Operating IncomeEarnings Before Tax

Attr. Kirby

Diluted Earnings per Share

Net Earnings

Operating IncomeEarnings Before Tax

Attr. Kirby

Diluted Earnings per Share

GAAP earnings (loss)

$ (420.8) $ (461.4) $ (272.5) $ (4.55)

$ 242.0

$ 189.8

$ 142.3

$

2.37

$ 155.3

$ 114.2

$

78.5

$

1.31

$

93.6

$

73.0 $ 313.2 $ 5.62

One-time items:

- Income tax benefit on 2018 and 2019 net operating loss carrybacks

  • - Impairments and other charges

    - 561.3

    - 561.3

    (50.8) 433.3

  • - Severance and early retirement expense

  • - Executive Chairman retirement

  • - Higman transaction fees & expenses

  • - Amendment to employee stock plan

  • - US tax reform and deferred tax liability remeasurement

- - - - -

- - - - -

- - - - -

(0.85) 7.24 - - - - -

- 35.5 4.8

- 35.5 4.8

- 28.0 3.7

- - - -

- - - -

- - - -

- 0.47 0.06 - - - -

-

-

-

-

87.8 -

87.8 -

69.3 -

1.16 -

- 105.7

- 105.7

- 67.0

18.1

18.1

18.1

0.30

3.3

3.3

2.5

0.04

3.9

3.9

3.0

-

-

-

0.05 -

- - - - -

- - - - -

- - - -

- 1.20 - - - -

(269.4)

(4.83)

Earnings, excluding one-time items(1)

$ 140.5

$

99.9

$ 110.0 $

1.84

$ 282.3

$ 230.1

$ 174.0

$

2.90

$ 268.4

$ 227.3

$ 171.4

$

2.86

$ 199.3 $ 178.7 $ 110.8 $ 1.99

Note: There were no identified one-time items in the 2022 first quarter.

(1) Kirby uses certain non-GAAP financial measures to review performance excluding certain one-time items including: 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. Management believes that the exclusion of certain one-time items from these financial measures enables it and investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. These non-GAAP financial measures are not calculations based on generally accepted accounting principles and should not be considered as an alternative to, but should only be considered in conjunction with, Kirby's GAAP financial information.

Prepared on: April 28, 2022

Disclaimer

Kirby Corporation published this content on 20 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 11:40:44 UTC.


ę Publicnow 2022
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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 35,8x
Yield 2022 -
Capitalization 4 401 M 4 401 M -
EV / Sales 2022 1,96x
EV / Sales 2023 1,68x
Nbr of Employees 5 125
Free-Float 90,5%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 73,48 $
Average target price 85,00 $
Spread / Average Target 15,7%
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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
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