Kirby Q3 revenue rises 12%, beats estimates

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

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

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(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.)