Kirby (NYSE:KEX) Issues Quarterly Earnings Results

Kirby (NYSE:KEX) issued 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. Kirby had a net margin of 10.51% and a return on equity of 10.62%. During the same period in the previous year, the firm posted $1.67 earnings per share. The firm’s quarterly 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 $12.20 during mid-day trading on Wednesday, reaching $133.19. 526,904 shares of the company were exchanged, compared to its average volume of 700,713. The company’s 50 day moving average price is $141.47 and its 200 day moving average price is $136.20. Kirby has a 52 week low of $79.51 and a 52 week high of $157.69. The company has a quick ratio of 1.01, a current ratio of 1.59 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $7.13 billion, a PE ratio of 20.56, a PEG ratio of 1.27 and a beta of 0.83.

Insider Transactions at Kirby

In related news, VP Ronald A. Dragg sold 1,726 shares of Kirby stock in a transaction on Monday, May 4th. The shares were sold at an average price of $145.01, for a total transaction of $250,287.26. Following the transaction, the vice president owned 8,673 shares in the company, valued at approximately $1,257,671.73. The trade was a 16.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Matthew Woodruff sold 678 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $147.37, for a total value of $99,916.86. Following the sale, the vice president directly owned 9 shares in the company, valued at approximately $1,326.33. This represents a 98.69% decrease in their ownership of the stock. 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 90 days. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kirby

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KEX shares. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Citigroup lifted their target price on shares of Kirby from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Bank of America upped their price objective on Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, BTIG Research reiterated a “buy” rating and set a $170.00 target price on shares of Kirby in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.