Kirby's (NYSE:KEX) Q1 2022 Earnings Conference Call April 28, 2022 8:30 AM ET
Company Participants
David Grzebinski – President and Chief Executive Officer
Raj Kumar – Executive Vice President and Chief Financial Officer
Eric Holcomb – Vice President-Investor Relations
Conference Call Participants
Jack Atkins – Stephens
Ben Nolan – Stifel
Jon Chappell – Evercore
Ken Hoexter – Bank of America
Greg Wasikowski – Webber Research
Chris Robertson – Jefferies
Operator
Corporation 2022, First Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. 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. Eric Holcomb, Kirby's VP of Investor Relations. Please go ahead.
Eric Holcomb
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 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's Form 10-K for the year ended December 31st 2021. I will now turn the call over to David.
David Grzebinski
Thank you, Eric and good morning everyone. Earlier today, we announced first quarter earnings of $0.29 per share. The quarter's results reflected improved market fundamentals in both Marine Transportation and Distribution and Services. As anticipated, our Marine Transportation business was significantly challenged by the COVID-19 Omicron variant. But the magnitude was at the high end of our guidance range with a total impact of approximately $0.10 per share.