Kirby (KEX) investor relations material

Business overview

• Operates the largest inland and coastwise tank barge fleets in the U.S., transporting energy and petrochemical products and providing nationwide power generation equipment and industrial distribution services.

• Marine transportation accounted for 59% of Q1 2026 revenues, with 1,124 inland tank barges and 284 towboats, and 27 coastal tank barges and 24 tugboats.

• Distribution and services segment contributed 41% of Q1 2026 revenues, focusing on power generation, industrial equipment, and oilfield service equipment.

• Has completed over 60 acquisitions across both segments, supporting growth and modernization.

• Emphasizes safety, with a strong safety culture, USCG-approved training center, and annual recognition programs.

Financial highlights

• Q1 2026 revenues reached $844.1 million, up 7% year-over-year; adjusted EBITDA was $183.1 million, up 5%.

• Net earnings attributable to shareholders were $81.2 million, with EPS of $1.50, a 13% increase year-over-year.

• Increased 2026 EPS growth guidance to 5–15% year-over-year.

• Returned $52.7 million to shareholders via share repurchases in Q1 2026.

• Maintains an investment-grade balance sheet, with $635 million in available liquidity and $925 million net debt as of March 31, 2026.

Long-term performance and resilience

• Achieved 8% CAGR in revenues and adjusted EBITDA, and 9% CAGR in EPS since 2004, demonstrating resilience through industry cycles.

• Generated positive free cash flow for 34 consecutive periods, with over $400 million in each of the last two years.

• Maintains disciplined capital allocation and countercyclical investment strategy.