Kirby Q4 revenue slightly misses analyst expectations

Overview

• U.S. tank barge operator's Q4 revenue slightly missed analyst expectations

• Net income for Q4 was $91.8 mln, with EPS at $1.68

• Company repurchased over 1 mln shares, reducing debt by $130 mln

Outlook

• Kirby expects 2026 EPS to be flat to up 12% year-over-year

• Company anticipates inland marine barge utilization in low 90% range for 2026

• Kirby projects coastal marine revenues to rise mid-single digits in 2026

Result Drivers

• INLAND MARINE UTILIZATION - Improved utilization in inland marine, averaging mid to high-80% range, supported solid operating margins

• POWER GENERATION GROWTH - Power generation revenue increased 47% year-over-year, driven by strong order activity and large project wins

• COASTAL MARINE STABILITY - Coastal marine maintained high utilization and steady demand, resulting in approximately 20% operating margins

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the marine freight & logistics peer group is "buy."

• Wall Street's median 12-month price target for Kirby Corp is $135.00, about 5.4% above its January 28 closing price of $128.13

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX3J77JQ

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