Kirby (NYSE:KEX) Issues Earnings Results, Beats Expectations By $0.06 EPS

Kirby (NYSE:KEX) released its quarterly earnings data on Thursday. The shipping company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06, Briefing.com reports. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share.

Here are the key takeaways from Kirby’s conference call:

• Record 2025 — Kirby generated over $400 million in free cash flow, repurchased more than $100 million of shares in Q4, paid down ~$130 million of debt and finished the year with roughly $542 million of available liquidity.
• Inland marine is improving — Q4 utilization averaged mid?to?high?80% and exited near 90%, spot rates rebounded in January, and management expects 2026 average inland utilization in the low?90s with low?to?mid single?digit revenue growth and margins trending to the high?teens/low?20s.
• Coastal remains tight — coastal utilization is mid?to?high?90% with Q4 margins around 20% and revenues +22% y/y, but a higher number of planned shipyard days in early 2026 will weigh on near?term margins despite ongoing pricing improvement.
• Power generation is a standout — Distribution & Services saw power generation revenues up ~47% y/y, backlog materially higher (sequential +11%, y/y +30%), positioning it as the primary growth driver even though deliveries are lumpy due to OEM lead?time constraints.
• Headwinds to watch — legacy oil & gas demand is very weak (Q4 oil & gas revenues down ~45% y/y), medical costs are rising and pressured margins in Q4, and management expects a working?capital build in H1 2026 to support power?gen growth.

Kirby Stock Performance

Shares of KEX opened at $119.36 on Friday. The firm’s fifty day simple moving average is $116.80 and its two-hundred day simple moving average is $103.69. Kirby has a 12 month low of $79.51 and a 12 month high of $132.18. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.47 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.10 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BTIG Research cut their price objective on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup boosted their price target on Kirby from $131.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Wolfe Research reissued an “outperform” rating on shares of Kirby in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insiders Place Their Bets

In other Kirby news, CEO David W. Grzebinski sold 29,451 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the transaction, the chief executive officer directly owned 79,709 shares in the company, valued at approximately $8,561,543.69. This represents a 26.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy D. Husted sold 10,413 shares of Kirby stock in a transaction on Friday, November 21st. The shares were sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the sale, the vice president owned 11,760 shares of the company’s stock, valued at $1,263,259.20. This represents a 46.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,147 shares of company stock valued at $6,204,544 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in shares of Kirby by 30.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after purchasing an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Kirby by 152.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after acquiring an additional 110,320 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Kirby by 68.6% during the second quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock valued at $2,279,000 after purchasing an additional 8,174 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Kirby by 3.5% in the second quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock worth $10,951,000 after purchasing an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Kirby by 52,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock worth $236,000 after buying an additional 2,080 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Key Kirby News

Here are the key news stories impacting Kirby this week:

• Positive Sentiment: Q4 EPS beat — Kirby reported $1.68 EPS vs. the $1.62 consensus and $1.29 a year ago, signaling stronger profitability. Zacks: Q4 Earnings Beat
• Positive Sentiment: Operational improvement — Inland marine utilization rose to mid–high 80% in Q4 and early 2026 has seen low-90% levels; coastal marine margins remain steady (~20%), supporting margin stability. GlobeNewswire: Q4 & Full-Year Results
• Positive Sentiment: Power generation and backlog — Power generation revenue rose sequentially and +47% YoY, driven by strong orders and large project wins, which supports growth prospects. GlobeNewswire: Q4 & Full-Year Results
• Positive Sentiment: Capital return and balance sheet actions — Repurchased ~1.03M shares for ~$101.6M and paid down ~$130M of debt in Q4, improving shareholder value and leverage. GlobeNewswire: Q4 & Full-Year Results
• Neutral Sentiment: Analyst target trimmed — BTIG cut its price target from $140 to $135 but kept a “buy” rating, implying modestly reduced upside while maintaining positive view. Benzinga: BTIG Price Target
• Negative Sentiment: Revenue slightly missed — Q4 sales were $851.8M vs. analysts’ $857.8M estimate, a modest top-line shortfall even as revenue grew ~6% YoY. Yahoo Finance: Sales Below Estimates

Kirby Company Profile

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.