Kirby Q1 EPS Rises 13% to $1.50, Boosts 2026 Guidance to 5–15%
Kirby reported Q1 EPS of $1.50, up 13% YoY, on revenues of $844.1M versus $785.7M year-ago and raised its 2026 EPS growth guidance to 5–15% from 0–12%. The company acquired 23 barges for $95.8M and returned $52.7M via share repurchases at an average $123.18 per share.
1. Q1 Earnings and Guidance
Kirby reported net earnings of $81.2 million, or $1.50 per share, a 13% increase from $1.33, on revenues of $844.1 million compared with $785.7 million a year earlier. The company raised its full-year 2026 EPS growth guidance to 5–15% from 0–12%, citing improving utilization and pricing across its marine transportation and distribution businesses.
2. Barge Acquisition and Share Repurchases
During the quarter, Kirby acquired 23 barges—including five specialty barges and three high-horsepower boats—from an undisclosed seller for $95.8 million, bolstering its inland and coastal fleet capacity. It also returned $52.7 million to shareholders through share repurchases at an average price of $123.18 per share, reflecting confidence in its cash flow generation.
3. Segment Performance
Marine transportation saw inland barge utilization in the low-90% range and coastal utilization in the mid-to-high-90% range, with operating margins in the high teens. Distribution and services revenues rose 12% year-over-year, led by a 45% increase in power generation orders, while oil-and-gas activity remained soft.