• SEC Filings

On July 26, 2017, Kirby Corporation (“Kirby”) issued a press release announcing earnings for the second quarter and first six months ended June 30, 2017. A copy of the press release is attached as Exhibit 99.1 to this report.

EBITDA, a non-GAAP financial measure, is used in the press release. Kirby defines EBITDA as net earnings attributable to Kirby before interest expense, taxes on income, depreciation and amortization. Kirby has historically evaluated its operating performance using numerous measures, one of which is EBITDA. EBITDA is presented because of its wide acceptance as a financial indicator. EBITDA is one of the performance measures used in Kirby’s incentive bonus plan. 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. A quantitative reconciliation of EBITDA to GAAP net earnings attributable to Kirby for the 2017 and 2016 second quarters and first six months is included in the press release.

99.1 Press release dated July 26, 2017

KIRBY CORP Exhibit
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 KIRBY CORPORATION Contact:  Brian Carey 713-435-1413 FOR IMMEDIATE RELEASE KIRBY CORPORATION ANNOUNCES 2017 SECOND QUARTER RESULTS · 2017 second quarter earnings per share of $0.48 compared with $0.72 in the 2016 second quarter · 2017 third quarter earnings per share guidance of $0.40 to $0.55 compared with $0.59 earned in the 2016 third quarter · Full year 2017 earnings per share guidance range narrowed to $1.80 to $2.10 from prior guidance of $1.70 to $2.20,…
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About Kirby Corporation (NYSE:KEX)

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii. Its engine services segment, sells replacement parts, provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines, transmissions, reduction gears, pumps and compression products, maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines.