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

Kirby (NYSE:KEX) posted its earnings results on Wednesday. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04, Zacks reports. The firm had revenue of $922.40 million for the quarter, compared to analysts’ expectations of $870.38 million. Kirby had a return on equity of 10.49% and a net margin of 10.18%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. 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 KEX traded up $0.08 during trading hours on Friday, hitting $132.42. 201,353 shares of the company were exchanged, compared to its average volume of 700,937. The company has a market capitalization of $7.08 billion, a PE ratio of 20.38, a PEG ratio of 1.12 and a beta of 0.83. 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 firm has a fifty day simple moving average of $140.86 and a 200-day simple moving average of $136.29. Kirby has a one year low of $79.51 and a one year high of $157.69.

Insider Buying and Selling

In other news, VP Ronald A. Dragg sold 1,726 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the sale, the vice president directly owned 8,673 shares of the company’s stock, valued at $1,257,671.73. This represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William Matthew Woodruff sold 678 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $147.37, for a total value of $99,916.86. Following the completion of the transaction, the vice president directly owned 9 shares in the company, valued at $1,326.33. This represents a 98.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,691 shares of company stock valued at $2,579,036 over the last ninety days. 0.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KEX. Smartleaf Asset Management LLC lifted its position in shares of Kirby by 537.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 258 shares in the last quarter. Parallel Advisors LLC boosted its stake in Kirby by 50.0% in the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock worth $44,000 after purchasing an additional 134 shares during the period. UMB Bank n.a. grew its position in Kirby by 57.8% during the 4th quarter. UMB Bank n.a. now owns 636 shares of the shipping company’s stock worth $70,000 after purchasing an additional 233 shares in the last quarter. Quarry LP acquired a new stake in Kirby during the 4th quarter valued at $95,000. Finally, Rafferty Asset Management LLC acquired a new stake in Kirby during the 4th quarter valued at $204,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KEX. BTIG Research reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Kirby in a report on Wednesday. Citigroup raised their target price on shares of Kirby from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.