Kirby (NYSE:KEX) Announces Earnings Results, Beats Estimates By $0.04 EPS

Kirby (NYSE:KEX) announced its earnings results on Wednesday. The shipping company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04, Zacks reports. Kirby had a return on equity of 10.62% and a net margin of 10.51%.During the same period in the previous year, the company posted $1.67 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Kirby updated its FY 2026 guidance to 7.280-7.280 EPS.

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

• Full-year EPS growth guidance of 5%–15% was reaffirmed, with results expected toward the upper end. Management cited inland pricing momentum, strong marine utilization, fuel-cost recovery, and improving power-generation backlog conversion as key supports.
• Inland marine fundamentals continued to improve, with utilization in the low 90% range, spot rates rising low- to mid-single digits sequentially, and term renewals increasing year over year. Limited industry capacity additions and strong refining and petrochemical demand could support a prolonged pricing upcycle.
• Distribution and Services benefited from robust power-generation demand and marine repair activity: segment revenue increased 6% year over year, while operating margin improved more than 300 basis points sequentially. Power-generation backlog reached approximately $1 billion–$1.5 billion, driven largely by behind-the-meter data-center and industrial applications.
• Management expects working-capital needs to normalize in the second half, supporting improved free cash flow while maintaining full-year operating cash-flow guidance of $575 million–$675 million. Kirby repurchased $59.7 million of stock in the quarter and an additional $29 million quarter to date, signaling confidence in the shares.
• Marine transportation operating income declined 11% year over year, pressured by higher fuel costs ahead of contractual recovery and elevated coastal shipyard activity. Coastal term renewals fell low single digits because of weakness in the 80,000–100,000-barrel ATB market, while OEM engine availability continues to delay power-generation revenue conversion.

Kirby Price Performance

Shares of NYSE KEX traded down $12.76 during mid-day trading on Wednesday, hitting $132.63. 502,539 shares of the company’s stock traded hands, compared to its average volume of 700,633. Kirby has a 1 year low of $79.51 and a 1 year high of $157.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01. The company’s 50-day moving average is $141.47 and its two-hundred day moving average is $136.20. The company has a market capitalization of $7.10 billion, a P/E ratio of 20.41, a PEG ratio of 1.27 and a beta of 0.83.

Insider Buying and Selling

In other Kirby news, VP William Matthew Woodruff sold 678 shares of Kirby stock in a transaction on Friday, May 15th. The shares were sold at an average price of $147.37, for a total transaction of $99,916.86. Following the completion of the transaction, the vice president directly owned 9 shares of the company’s stock, valued at $1,326.33. The trade was a 98.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy D. Husted sold 4,000 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.43, for a total transaction of $581,720.00. Following the transaction, the vice president directly owned 10,814 shares of the company’s stock, valued at approximately $1,572,680.02. This represents a 27.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,691 shares of company stock valued at $2,579,036 in the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Kirby

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Kirby by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,484,508 shares of the shipping company’s stock worth $273,745,000 after acquiring an additional 93,676 shares in the last quarter. Alliancebernstein L.P. lifted its position in Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock valued at $258,900,000 after acquiring an additional 959,209 shares during the last quarter. First Trust Advisors LP boosted its stake in Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock valued at $248,640,000 after acquiring an additional 1,178,963 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Kirby by 10.8% during the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company’s stock worth $245,638,000 after purchasing an additional 211,231 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Kirby by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 1,932,146 shares of the shipping company’s stock valued at $212,884,000 after purchasing an additional 178,422 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on KEX. Weiss Ratings upgraded shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Citigroup increased their price objective on shares of Kirby from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. BTIG Research restated a “buy” rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday. Evercore restated an “outperform” rating and set a $158.00 target price on shares of Kirby in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.20.

About Kirby

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.