Kirby Corp

KEX

Equity

ISIN null / Valor 945199

New York Stock Exchange, Inc (2026-05-05)

USD 143.37-0.77%

Kirby Corp
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About company

Kirby Corporation is a Houston-based, publicly traded maritime and industrial services company that operates primarily in the United States. Its core business is marine transportation of bulk liquid products — using inland tank barges, towboats and coastal/offshore vessels to move petrochemicals, refined petroleum products, black oil, and other liquid commodities for energy, chemical and agricultural customers. Through a separate distribution and services segment, Kirby supplies and services diesel engines, transmissions, pumps and related parts and provides after‑market repair and maintenance support for marine, industrial and oilfield equipment. The company’s operations therefore combine vessel-based logistics for liquid bulk transport with downstream equipment distribution and service offerings to industrial clients.

Summarized from source with an LLMView SourceSector: Consumer Services

Earnings and revenue

Q4 2025 EPS was $1.68 vs. $0.74 in Q4 2024 (excluding one‑time items, 2024 Q4 EPS was $1.29). Full‑year 2025 EPS was $6.33 vs. $4.91 in 2024 (excluding one‑time items, 2024 was $5.46). Consolidated Q4 revenue: $851.8M (up from $802.3M YoY); 2025 full‑year revenue: $3.4B (vs. $3.3B in 2024).

Marine Transportation — inland and coastal

Marine Transportation Q4 revenue was $481.7M with operating income $100.3M (segment margin 20.8% vs. 18.4% in Q4 2024). Inland barge utilization averaged mid‑ to high‑80% in Q4 (down earlier in the quarter but improving), with low‑20% operating margins for the quarter and improvement to low‑90% utilization already seen in early Q1 2026. Coastal utilization remained mid‑ to high‑90% in Q4, coastal revenues were up ~22% YoY, and coastal margins were about 20%.

Distribution & Services — power generation strength

Distribution & Services Q4 revenue was $370.1M and operating income $30.1M (8.1% margin). Power generation revenues rose 10% sequentially and 47% YoY, accounting for ~52% of the segment; power generation operating margins were in the high single digits. Commercial/industrial and oil & gas showed mixed results (oil & gas revenues down ~45% YoY).

Cash flow, liquidity and capital deployment

Adjusted EBITDA for Q4 was $203.1M. Net cash provided by operating activities was $312.2M and CapEx was $47.0M (free cash flow approx. $265.2M for the quarter). Kirby repurchased 1,030,729 shares for $101.6M at an average $98.53 and reduced debt balances by $130M in Q4. Cash and equivalents were $78.8M, total liquidity $541.9M, total debt $919.3M and debt‑to‑capitalization was 21.4%.

2026 outlook

Kirby expects 2026 EPS to be flat to up ~12% year‑over‑year. They forecast net cash provided by operating activities of $575M–$675M and CapEx of $220M–$260M (including ~$170M–$210M marine maintenance and up to ~$65M growth). Management expects inland utilization to average in the low‑90% range for 2026, coastal revenues to grow mid‑single digits, and continued strength in power generation to help offset softness elsewhere. Summarized from source with an LLMView Source

Key figures

37.2%1Y

98.8%3Y

116%5Y

Performance

39.9%1Y

31.2%3Y

32.6%5Y

Volatility