| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 844.10 | 7.4% |
| Total Income | 844.10 | 7.4% |
| Expenditure | 736.43 | 8.3% |
| PBT | 104.70 | 4.3% |
| Net Profit | 81.20 | 6.9% |
| OPM | 12.76% | 0.68pp |
| NPM | 9.62% | 0.05pp |
| EPS | 1.51 | 13.5% |
Kirby Corporation Announces Q1 2026 Results: EPS Up 13% Y-o-Y
03 May 2026 · 3 May, 6:05 pm
Summary
Kirby Corporation announced net earnings attributable to Kirby for the first quarter ended March 31, 2026, of $81.2 million, or $1.50 per share, compared with earnings of $76.0 million, or $1.33 per share, for the 2025 first quarter. Total revenues for the 2026 first quarter were $844.1 million compared with $785.7 million reported for the 2025 first quarter. The company increased the full-year 2026 earnings per share growth guidance range to 5% - 15%, up from the prior guidance of 0% - 12%. During the quarter, Kirby acquired 23 barges and three high horsepower boats for $95.8 million and returned $52.7 million to shareholders through share repurchases.
Key Highlights
- 1
Kirby Corporation's first quarter 2026 earnings per share increased by 13% year-over-year to $1.50.
- 2
The company increased its full-year 2026 earnings per share growth guidance range to 5% - 15%, up from the prior guidance of 0% - 12%.
- 3
Kirby acquired 23 barges and three high horsepower boats from an undisclosed seller for $95.8 million.
- 4
The company returned $52.7 million of capital to shareholders through share repurchases during the first quarter of 2026 at an average share price of $123.18.
- 5
Total revenues for the first quarter of 2026 were $844.1 million, compared to $785.7 million for the first quarter of 2025.
- 6
EBITDA for the first quarter of 2026 was $183.1 million, compared to $174.3 million for the first quarter of 2025.
- 7
Coastal marine revenues increased 23% year-over-year, with operating margins in the high-teens range.
Management Comments
David Grzebinski
Our first quarter results reflected improving market conditions in marine transportation where utilization and pricing strengthened as the quarter progressed, resulting in positive momentum entering the second quarter. In distribution and services, year-over-year revenue growth remained strong driven by continued strength in power generation orders. While results were impacted early in the quarter by normal seasonal challenges in marine transportation and project timing dynamics in distribution and services, overall performance improved as the quarter progressed, resulting in strong year-over-year growth in earnings per share. In distribution and services, results reflected mixed conditions across end markets. First quarter revenues increased 12% year‑over‑year, driven by continued strength in power generation and strong marine repair activity. However, sequentially revenues and operating income declined due to OEM engine availability and continued softness in conventional oil and gas activity. Power generation demand remained strong, with revenues increasing 45% year-over-year and backlog continuing to grow, supported primarily by behind-the-meter prime power solutions. Disciplined execution in commercial and industrial continued to support segment margins, while oil and gas results continued to be pressured by lower conventional activity. Overall, the segment demonstrated resilience across a diversified portfolio. Kirby is off to a solid start to the year amid a global macro environment that has become more uncertain, driven in part by heightened geopolitical tensions and volatility across energy and industrial markets. In marine transportation, underlying activity levels remain constructive, supported by strong refinery utilization and improving conditions in the petrochemical markets amid ongoing global supply chain disruptions. Coastal market conditions remain positive, with pricing moving in the right direction. In distribution and services, power generation continues to be a key area of strength, supported by solid backlog growth and growing customer demand, helping offset variability in other product lines. With this improving backdrop, the Company has increased the full-year 2026 earnings per share growth guidance range to 5% - 15%, up from the prior guidance of 0% - 12%.
Informational and educational content only. Not investment advice.