Kirby (NYSE:KEX) Issues Quarterly Earnings Results

Kirby (NYSE:KEX) issued its quarterly earnings results on Thursday. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06, Briefing.com reports. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.29 EPS.

Here are the key takeaways from Kirby’s conference call:

• Record 2025 — Kirby generated over $400 million in free cash flow, repurchased more than $100 million of shares in Q4, paid down ~$130 million of debt and finished the year with roughly $542 million of available liquidity.
• Inland marine is improving — Q4 utilization averaged mid‑to‑high‑80% and exited near 90%, spot rates rebounded in January, and management expects 2026 average inland utilization in the low‑90s with low‑to‑mid single‑digit revenue growth and margins trending to the high‑teens/low‑20s.
• Coastal remains tight — coastal utilization is mid‑to‑high‑90% with Q4 margins around 20% and revenues +22% y/y, but a higher number of planned shipyard days in early 2026 will weigh on near‑term margins despite ongoing pricing improvement.
• Power generation is a standout — Distribution & Services saw power generation revenues up ~47% y/y, backlog materially higher (sequential +11%, y/y +30%), positioning it as the primary growth driver even though deliveries are lumpy due to OEM lead‑time constraints.
• Headwinds to watch — legacy oil & gas demand is very weak (Q4 oil & gas revenues down ~45% y/y), medical costs are rising and pressured margins in Q4, and management expects a working‑capital build in H1 2026 to support power‑gen growth.

Kirby Stock Performance

Shares of NYSE:KEX traded down $7.60 during midday trading on Thursday, reaching $120.53. The company had a trading volume of 821,917 shares, compared to its average volume of 868,743. The stock has a market cap of $6.53 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.11 and a beta of 0.88. The company’s 50 day moving average price is $116.47 and its 200 day moving average price is $103.56. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. Kirby has a 52-week low of $79.51 and a 52-week high of $132.18.

Insider Buying and Selling at Kirby

In related news, VP Amy D. Husted sold 10,413 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total value of $1,118,564.46. Following the sale, the vice president directly owned 11,760 shares in the company, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ronald A. Dragg sold 2,715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $110.29, for a total transaction of $299,437.35. Following the completion of the transaction, the vice president directly owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. This trade represents a 20.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,147 shares of company stock valued at $6,204,544 in the last quarter. Insiders own 0.90% of the company’s stock.

Institutional Trading of Kirby

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caxton Associates LLP purchased a new position in shares of Kirby during the 3rd quarter valued at $205,000. Armistice Capital LLC purchased a new position in Kirby in the 3rd quarter worth approximately $208,000. Aristides Capital LLC raised its position in shares of Kirby by 23.1% during the 3rd quarter. Aristides Capital LLC now owns 2,789 shares of the shipping company’s stock valued at $233,000 after buying an additional 524 shares in the last quarter. NewEdge Advisors LLC grew its position in Kirby by 52,000.0% in the second quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock worth $236,000 after acquiring an additional 2,080 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in Kirby during the third quarter valued at about $238,000. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KEX. Citigroup lifted their target price on Kirby from $131.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Evercore ISI lifted their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. BTIG Research upped their target price on Kirby from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, Wolfe Research reissued an “outperform” rating and set a $134.00 price target on shares of Kirby in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.50.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.