Kirby Q3 EPS $2.09, Narrows 2026 Guidance to 10-15%, Adds $115M Inland Marine Deal
KEX sits 66% above its 52-week low of $87.95 on elevated volume (2.3× avg).
Summary
Kirby posted Q3 EPS of $2.09 on $977.2 million of revenue, narrowed 2026 EPS growth guidance to 10-15% with results trending to the high end, and disclosed a $115 million deal for inland marine assets near Corpus Christi.
Key Events · Earnings and Guidance · KEX
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Q3 EPS Up 27% Year-Over-Year
Net earnings attributable to Kirby were $110.8 million, or $2.09 per diluted share, versus $92.5 million and $1.65 a year earlier, on total revenues of $977.2 million versus $871.2 million.
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$115M Inland Marine Asset Acquisition
Kirby agreed to buy nine inland towboats, 14 inland tank barges, nine bow thrusters and a 65-acre fleeting operation in Rockport, Texas from undisclosed sellers; closing is expected in Q4 2026 subject to customary conditions.
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Guidance Narrowed to 10-15% EPS Growth
Full-year 2026 EPS growth guidance was narrowed to 10% to 15%, with management saying results should land toward the upper end of the range.
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Fuel Costs Squeeze Marine Margins
Average fuel cost per gallon rose to $3.91 from $2.46 a year ago; inland margins held in the 20% range and marine transportation operating margin improved to 19.7% from 18.3%.
Analysis · KEX · Energy & Transportation
Kirby's third quarter beat last year on both lines, with EPS of $2.09 versus $1.65 and revenue of $977.2 million versus $871.2 million. Management narrowed full-year EPS growth guidance to 10% to 15% while pointing to the upper end. The bigger incremental news buried in the release is a $115 million agreement to buy nine inland towboats, 14 inland tank barges, nine bow thrusters and a 65-acre fleeting operation near Corpus Christi, which deepens the South Texas network and feeds the West End linehaul system. Fuel is the pressure point: the average cost per gallon jumped to $3.91 from $2.46, and inland margins held in the 20% range only because rate escalators partly offset it. The company also bought back $112 million of stock at an average $137.04 during the quarter, against a $146.07 price today.
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At the time of this filing, KEX was trading at $146.07 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $87.95 to $157.69. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.