Financial Highlights
All financial information is current as of the date prepared, and should be considered in conjunction with any subsequent disclosures or filings by the Company, including but not limited to annual, quarterly, or current reports filed with the Securities and Exchange Commission.
Prepared on: October 26, 2023
| ($ millions, except per share amounts) |
First Quarter | Second Quarter | Third Quarter | Year-to-Date | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | Change | 2023 | 2022 | Change | 2023 | 2022 | Change | 2023 | 2022 | Change | |
| Marine Transportation Revenues | $412.5 | $355.5 | $57.0 | $427.0 | $405.7 | $21.3 | $429.9 | $433.0 | $(3.1) | $1,269.4 | $1,194.2 | $75.2 |
| Distribution & Services Revenues | 337.9 | 255.2 | 82.7 | 350.3 | 292.3 | 58.0 | 334.9 | 312.8 | 22.1 | 1,023.1 | 860.4 | 162.7 |
| Total Revenues | 750.4 | 610.8 | 139.6 | 777.3 | 698.0 | 79.3 | 764.8 | 745.8 | 19.0 | 2,292.5 | 2,054.6 | 237.9 |
| Operating Income | 61.5 | 29.7 | 31.8 | 87.3 | 46.5 | 40.8 | 93.5 | 58.9 | 34.6 | 242.3 | 135.1 | 107.2 |
| Net Earnings Attributable to Kirby | 40.7 | 17.4 | 23.3 | 57.4 | 28.5 | 28.9 | 63.0 | 39.1 | 23.9 | 161.0 | 85.0 | 76.0 |
| Earnings per Share - Diluted | 0.68 | 0.29 | 0.39 | 0.95 | 0.47 | 0.48 | 1.05 | 0.65 | 0.40 | 2.68 | 1.41 | 1.27 |
| Excluding One-time Items: | ||||||||||||
| Operating Income 1 | 64.5 | 29.7 | 34.8 | 87.3 | 48.0 | 39.3 | 93.5 | 58.9 | 34.6 | 245.3 | 136.6 | 108.7 |
| Net Earnings Attributable to Kirby 1,2 | 40.9 | 17.4 | 23.5 | 57.4 | 29.8 | 27.6 | 63.0 | 39.1 | 23.9 | 161.2 | 86.3 | 74.9 |
| Earnings per Share - Diluted 1,2 | 0.68 | 0.29 | 0.39 | 0.95 | 0.49 | 0.46 | 1.05 | 0.65 | 0.40 | 2.68 | 1.43 | 1.25 |
Note: See Reconciliation of GAAP to Non-GAAP Financial Measures Excluding One-Time Items under "Financial Reports" below.
1 2023 Q1 and 2023 YTD operating income, net earnings attributable to Kirby, and earnings per share exclude $3.0 million before-tax, $2.4 million after-tax, or $0.04 per share of one-time charges associated with strategic review and shareholder engagement. 2022 Q2 and 2022 Q2 YTD operating income, net earnings attributable to Kirby, and earnings per share exclude $1.5 million before-tax, $1.3 million after-tax, or $0.02 per share of one-time charges associated severance expense
2 2023 Q1 and 2023 YTD Net earnings attributable to Kirby, and earnings per share exclude $2.7 million before-tax, $2.2 million after-tax, or $0.04 per share of one-time income associated with IRS refund interest