On April 23, 2013, the Board of Directors of Kirby Corporation elected Joseph H. Pyne Chairman of the Board, President and Chief Executive Officer of the company. He previously served as Chairman of the Board and Chief Executive Officer. The Board also elected Gregory R. Binion President of Marine Transportation Group, which includes overall responsibility for both company's inland and coastal marine transportation operations. Mr. Binion previously served as President and Chief Operating Officer of the company. On April 19, 2013, Mr. Pyne notified the Board that he has decided to relinquish the position of Chief Executive Officer in early 2014. He and the Board will focus on completing the transition of the responsibilities of Chief Executive Officer to David W. Grzebinski by that time. Mr. Grzebinski is currently Executive Vice President and Chief Financial Officer of the company. On April 23, 2013, the Board of Directors of the company amended the Bylaws of the company. Article III, Section 7 was amended to provide that the Chairman of the Board, as well as the President or Secretary, may call special meetings of the Board of Directors. Article III, Section 9 was amended to provide for facsimile or electronic signatures on written consents of the directors. Article III, Section 13 was amended to clarify the types of compensation that may be paid for serving as a director or a member of a committee of the Board of Directors. Article V, Sections 1, 2, 5, 12, 13, 14 and 17 were amended to clarify provisions relating to the election and responsibilities of officers of the company.

Kirby Corporation reported unaudited consolidated earnings results or the first quarter of 2013. For the quarter, the company reported total revenues of $558,785,000 compared to $566,935,000 a year ago. Operating income was $99,849,000 compared to $89,060,000 a year ago. Earnings before taxes on income were $91,936,000 compared to $83,369,000 a year ago. Net earnings attributable to company were $56,578,000 or $1.00 per basic and diluted share compared to $50,944,000 or $0.91 per basic and diluted share a year ago. EBITDA was $139,946,000 compared to $124,748,000 a year ago. Capital expenditures were $71,157,000 compared to $61,867,000 a year ago. Total debt as of March 31, 2013, of the corporation was $1.1 billion. The decline in revenue and operating income and operating margin was primarily due to the lower results at United. For the second quarter of 2013, the company expects earnings guidance is $1.00 to $1.10 per share. For the year 2013 earnings guidance to $4.10 to $4.30, including the $0.05 per share first quarter credit to United's contingent earnout liability. Capital spending guidance range remains in the $190 to $200 million range, including approximately $115 million for the construction of 55 inland tank barges and three inland towboats, and approximately $10 million in progress payments on the construction of two new offshore integrated dry-bulk barge and tugboat units. The balance of $65 to $75 million is primarily capital upgrades and improvements to existing inland and coastal marine equipment.

Kirby Corporation Presents at Wells Fargo Industrial & Construction Conference, May-08-2013 04:30 PM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York , NY 10022, United States. Speakers: Joseph H. Pyne, Chairman, Chief Executive Officer, President and Member of Executive Committee.