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Kirby Corp. (KEX)
NYSE:KEX
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.41Last Year’s EPS
1.33Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a decidedly positive operational and financial picture overall: record 2025 earnings, strong free cash flow ($406M), aggressive capital returns (>$100M buybacks) and debt reduction (~$130M) underpin a healthy balance sheet and confident outlook. Growth engines include a very strong coastal business and a rapidly expanding power generation business (power gen +47% YoY, backlog +30% YoY) that offset weakness in a small but volatile oil & gas subsegment. Near-term challenges (notably weather-related Q4 disruptions, rising medical costs, OEM/supply-chain lumpiness, shipyard activity and pronounced oil & gas declines) introduce some execution and timing risk for 2026 and explain the wide guidance range. On balance, the positive drivers (record cash generation, coastal strength, power generation momentum, balance-sheet improvements and share repurchases) outweigh the lowlights, supporting an overall constructive outlook for 2026.Company Guidance
Record 2025 Earnings and Strong Free Cash Flow
Kirby reported a record year in 2025, generating strong cash flow metrics: $670 million of cash flow from operations for the year, $406 million of free cash flow for 2025 (exceeding guidance), and just over $265 million of free cash flow in Q4.
Aggressive Capital Returns and Balance Sheet Strengthening
Returned capital with $102 million in share repurchases (average price just under $99) and paid down approximately $130 million of debt in Q4; ended 12/31/2025 with $79 million cash, ~ $920 million total debt, and a debt-to-capital ratio of 21.4% with total available liquidity of about $542 million.
Marine Transportation Revenue and Income Growth (YoY)
Marine Transportation segment revenues of $482 million in Q4 with operating income of $100 million; segment revenues increased $14.9 million or ~3% year over year and operating income increased ~$14 million or ~17% year over year.
Coastal Business Strength
Coastal revenues increased 22% year over year, coastal barge utilization ran in the mid-to-high 90% range, coastal operating margin was approximately 20%, and coastal revenue represented ~21% of the Marine Transportation segment.
Inland Utilization Improving
Inland barge utilization improved through the quarter, averaging in the mid-to-high 80% range in Q4 and exiting the year close to ~90%; inland operating margins were in the low-20% range and full-year 2026 inland utilization is expected to average in the low-90% range with revenues up low-to-mid single digits year over year.
Distribution & Services (DNS) Growth Driven by Power Generation
DNS segment revenues were $370 million with operating income of $30 million and an 8.1% operating margin. DNS revenue grew ~10% year over year, driven by power generation which was up 47% year over year and grew 10% sequentially; power generation represented ~52% of DNS revenue and backlog was reported up ~11% sequentially and ~30% year over year.
Strong liquidity and disciplined CapEx guidance
2025 CapEx was $264 million (including ~$45 million growth CapEx); 2026 CapEx guided to $220–$260 million. Management expects continued strong free cash flow generation in 2026 and plans balanced capital allocation including share repurchases and selective M&A.
Constructive 2026 Outlook
Management expects steady year-over-year earnings growth in 2026, with inland pricing and utilization expected to firm, coastal revenue growth in the mid single digits, inland operating margins averaging high teens to low 20s, coastal margins in the high teens, and DNS margins in the mid-to-high single digits on average.
KEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
KEX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $128.13 | $122.17 | -4.65% |
Oct 29, 2025 | $88.64 | $100.99 | +13.93% |
Jul 31, 2025 | $120.00 | $95.31 | -20.58% |
May 01, 2025 | $96.37 | $99.58 | +3.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Kirby Corp. (KEX) report earnings?
Kirby Corp. (KEX) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Kirby Corp. (KEX) earnings time?
Kirby Corp. (KEX) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KEX EPS forecast?
KEX EPS forecast for the fiscal quarter 2026 (Q1) is 1.41.