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Investor Presentaiton

INLAND BARGE OUTLOOK Outlook for dry barge replacement cycle remains intact Aging Fleet and Underinvestment in Replacement Support Positive Outlook for New Hopper Barge Construction Hopper Barge Fleet Age² 14.4 (in Years) 16.3 1,200 600 2016 2020 0 Annual Industry Deliveries Since '05³ (# Hopper Barges) Lowest level in 30 years of new dry barge construction 2005 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Arcosa Historical Barge Orders Plate steel prices elevated while hot-rolled coil prices declined 134 122 81 Beginning of hopper barge replacement cycle ($M) Plate steel prices began escalating in late 4Q20 105 84 90 COVID-19 pull-back 81 55 49 48 35 17 18 16 13 Theoretical Replacement Level • Annual industry deliveries of new dry barges have been well below replacement level needed to keep fleet age constant 3rd-party forecasts indicate potential for ~750 average annual dry barge needs through 2026¹, nearly triple the past 5-year average rate • Our backlog of $240 million at 9/30/23 is up approximately 90% year-over-year with improved pricing • High steel prices, rising interest rates, and historic low river levels tempered orders in 3Q'23 • Our ability to manufacture barges using plate or hot-rolled coil steel provides flexibility as steel dynamics shift 21 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 ¹Criton Corporation: Prospects for the Dry Cargo Inland Barge Market Through 2026, Nov. 2021; 2Company estimates and IHS Markit, May 2021; ³River Transport News annual survey of new hopper barge construction 18 MOVING INFRASTRUCTURE FORWARD I 2023 A
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