Kirby Corp. ( (KEX) ) has released its Q1 earnings. Here is a breakdown of the information Kirby Corp. presented to its investors.
Kirby Corporation, headquartered in Houston, Texas, is the leading domestic tank barge operator in the United States, specializing in the transportation of bulk liquid products and providing aftermarket services for engines and industrial equipment.
In its first quarter of 2025, Kirby Corporation reported earnings per share of $1.33, up from $1.19 in the same quarter of the previous year, despite a slight decline in consolidated revenues to $785.7 million from $808.0 million. The company experienced improved market conditions in its inland marine segment, with increased spot market prices and strong operating margins, although weather-related delays impacted operations.
Key financial highlights include the repurchase of over 1.2 million shares for $124.7 million and the acquisition of 14 barges and four high horsepower boats for $97.3 million. The marine transportation segment saw stable revenues with improved operating margins, while the distribution and services segment faced mixed demand, with notable growth in operating income driven by e-frac and cost management initiatives in the oil and gas market.
Looking ahead, Kirby Corporation remains optimistic about the remainder of 2025, expecting favorable market conditions and significant free cash flow generation. The company anticipates growth in inland and coastal marine revenues, despite challenges such as inflationary pressures and labor shortages, and plans to continue share repurchases absent major acquisitions.