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Kirby's CEO Participates In Credit Suisse Energy Summit - Conference Call Transcript

Kirby Corporation ( KEX)

Credit Suisse Energy Summit Conference Call

February 9, 2012 1:10 pm ET

Executives

Joe Pyne - Chairman and CEO

Steve Holcomb - VP, IR

Analysts

Greg Lewis - Credit Suisse

Presentation

Greg Lewis

Good afternoon, everybody, and thank you for being here. I'd like to introduce Kirby Corporation. They're actually new to the Vail Energy Conference. They're doing some interesting things on the inland river barge business as well as diesel engine service business, which touches various aspects of the oil service industry. We have Joe Pyne and Steve Holcomb. And with that, I'll turn it over to Joe.

Joe Pyne

Thank you, Greg. Just delighted to be able to talk about Kirby at an energy conference. So that's new and exciting for us. So thank you for the opportunity to do this. Kirby is in two businesses. We're in the marine transportation business, moving a lot of energy around, and we're also in the diesel engine service business. I'm going to come back and talk about both these businesses further in the presentation.

Just some facts about Kirby, we have a market cap of a little less than $3.8 billion, enterprise value around $4.5 billion. More facts on Kirby, Kirby is the largest inland tank barge operator in the U.S., also the largest coastal barge operator for barge sizes of 185,000 barrels or less. This is a business that where size maters or some economies of scale that a company like Kirby enjoys that smaller competitors do not enjoy.

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