Kirby (NYSE:KEX) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Kirby (NYSE:KEX) announced its quarterly earnings results on Wednesday. The shipping company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.09, Zacks reports. Kirby had a net margin of 10.39% and a return on equity of 10.94%. The company had revenue of $977.21 million for the quarter, compared to the consensus estimate of $938.84 million. During the same period in the previous year, the firm posted $1.65 EPS. Kirby’s revenue for the quarter was up 12.2% compared to the same quarter last year.

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

• Record third-quarter EPS of $2.09 rose 27% year over year, driven by strong utilization and pricing in marine transportation and demand for power-generation solutions.
• Inland marine conditions remain favorable, with utilization in the low 90% range, limited industry capacity additions, improving spot rates, and a strong fourth-quarter renewal period expected to support pricing and 2027 margins.
• Distribution & Services power-generation backlog exceeded $1.5 billion, with roughly two-thirds tied to higher-margin behind-the-meter applications; management maintained its 10%–20% longer-term power-generation revenue growth outlook and expects a significant aftermarket opportunity in three to four years.
• Fuel, skilled-labor, steel, and other inflationary costs remain headwinds, while constrained OEM engine availability is limiting the pace at which power-generation backlog converts to revenue and elevated coastal shipyard activity is expected to pressure fourth-quarter margins.
• Kirby narrowed its 2026 earnings-growth guidance to 10%–15% and expects results toward the upper end, while returning $112 million through share repurchases and acquiring inland marine assets for approximately $115 million to expand its South Texas network.

Kirby Price Performance

KEX opened at $144.61 on Friday. The stock has a market cap of $7.64 billion, a P/E ratio of 20.95, a PEG ratio of 1.30 and a beta of 0.84. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. Kirby has a 52-week low of $101.64 and a 52-week high of $157.69. The business has a fifty day moving average of $137.28 and a 200 day moving average of $136.51.

Analysts Set New Price Targets

A number of research firms recently commented on KEX. Bank of America boosted their target price on Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Citigroup cut their price target on Kirby from $170.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, October 8th. BTIG Research reaffirmed a “buy” rating and set a $170.00 price objective on shares of Kirby in a report on Wednesday, July 29th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. increased their target price on Kirby from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.43.

Kirby Company Profile

Kirby Corporation is a Houston-based marine transportation and industrial services company. Through its marine transportation operations, the company is the largest tank barge operator in the United States, transporting bulk liquid products on the nation’s inland and coastal waterways.

Kirby’s marine transportation business carries petrochemicals, refined petroleum products, black oil, agricultural chemicals and other bulk liquids for industrial customers. Its operations primarily serve the U.S.