Kirby Corporation (NYSE:KEX) Q4 2022 Earnings Conference Call January 31, 2023 8:30 AM ET

Company Participants

Kurt Niemietz - Vice President, Investor Relations & Treasurer

David Grzebinski - President and Chief Executive Officer

Raj Kumar - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jack Atkins - Stephens

Nathan Ho - Bank of America

Greg Lewis - BTIG

Greg Wasikowski - Webber Research

Ben Nolan - Stifel

William Baldwin - Crescent Securities

Operator

Good morning, and welcome to the Kirby Corporation 2022 Fourth Quarter Earnings Conference Call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. We ask that you limit your questions to one question and one follow-up. [Operator Instructions] Please note this is being recorded.

I would now like to turn the conference over to Mr. Kurt Niemietz, Kirby's VP of Investor Relations and Treasurer. Please go ahead.

Kurt Niemietz

Good morning and thank you for joining us. With me today are David Grzebinski, Kirby's President and Chief Executive Officer; and Raj Kumar, Kirby's Executive Vice President and Chief Financial Officer. A slide presentation for today's conference call, as well as the earnings release, which was issued earlier today, can be found on our website at www.kirbycorp.com.

During this conference call, we may refer to certain non-GAAP or adjusted financial measures. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our earnings press release and are also available on our website in the Investor Relations section under Financials.

As a reminder, statements contained in this conference call with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties, and our actual results could differ materially from those anticipated as a result of various factors, including the impact of the COVID-19 pandemic on the company's business. A list of these risk factors can be found in Kirby Corp’s Form 10-K for the year ended December 31, 2021 and in our other filings made with the SEC from time-to-time.

I will now turn the call over to David.

David Grzebinski

Thank you, Kurt, and good morning, everyone. Before we get into the details of our fourth quarter and full-year results, I'd like to take a moment to touch on a press release we issued earlier this month. The Board initiated a process in early 2022 with the support of our independent financial and legal advisors to review a range of alternatives, including a potential sale or spin-off of the Distribution and Services business. The Board is keenly focused on maximizing value for shareholders and regularly reviews and actively manages Kirby’s portfolio.