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Kirby Q3 revenue rises 12%, beats estimates

By Reuters News


Overview

  • US tank barge operator's Q3 revenue rose 12% yr/yr, beating analyst expectations

  • Q3 EPS rose 27% yr/yr to $2.09

  • Company returned $112 mln to shareholders via share repurchases in Q3


Outlook

  • Kirby narrows 2026 full-year EPS growth guidance to 10%-15%, expects results near upper end

  • Company expects inland marine revenues to grow low-double-digit % in 2026, margins high-teens to low-20%

  • Distribution and services revenues expected to grow high-single-digit % in 2026, margins high-single-digit


Result Drivers

  • MARINE TRANSPORTATION DEMAND - Co said improved market fundamentals and strong customer demand drove marine transportation revenue growth of 17%

  • POWER GENERATION DEMAND - Robust demand for behind-the-meter and backup power solutions supported distribution and services revenue growth

  • REFINERY AND PETROCHEMICAL ACTIVITY - Strong refinery and petrochemical activity and limited new capacity supported high barge utilization in inland marine


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$977.2 mln

$941.17 mln (6 Analysts)

Q3 EPS

$2.09

Q3 Net Income

$110.8 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 8 "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 $169.11, about 23.4% above its October 27 closing price of $137.06

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Oct 27 - Boeing Q3 revenue beats estimates on defense volumes

  • Oct 27 - Herc Holdings Q3 revenue slightly beats on improved fleet efficiency

  • Oct 27 - Pentair Q3 sales beat estimates on water solutions growth; reaffirms profit guidance


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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