EarningsQ2 2026 Earnings Report
MX:KEX Q2 2026 EPS Results
Actual EPS$30.36
Consensus EPS$29.61
Beat/MissBeat by +$0.75
One Year Ago EPS$30.36
MX:KEX Q2 2026 Revenue Results
Actual Revenue$16.77B
Expected Revenue$15.82B
Beat/MissBeat by +$945.70M
YoY Revenue Growth+7.83%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:KEX Upcoming Earnings
Kirby's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:KEX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted solid operational execution with strong utilization, sequential pricing momentum inland, year‑over‑year revenue growth across segments, an expanded Power Generation backlog and continued share repurchases. Near‑term headwinds (temporary fuel cost impact, elevated shipyard activity affecting coastal margins, elevated working capital and pockets of weaker oil & gas activity) weighed on operating income in the quarter but are described as transitory or manageable. Management reaffirmed full‑year guidance (5%–15% EPS growth) and expects results toward the upper end based on inland pricing momentum, recovery of fuel impacts, healthy utilization and Power Generation backlog conversion.Company Guidance
Earnings per Share and Top-Line Performance
Reported EPS of $1.67, up 11% sequentially and in line with the prior-year quarter. Company reaffirmed full-year EPS growth guidance of 5%–15% and said results are trending toward the upper end of that range.
Marine Transportation Revenue and Margins
Marine Transportation revenues of $537 million (+9% year‑over‑year, +8% sequentially) with operating income of $88 million and a 16.4% operating margin. Inland delivered high‑teens margins and coastal delivered low‑to‑mid‑teens margins.
Strong Asset Utilization
Inland barge utilization in the low‑90% range and coastal utilization in the high‑90% range, supporting pricing momentum and revenue growth (inland revenues +9% YoY; coastal revenues +10% YoY).
Inland Pricing Momentum and Contract Mix
Spot market rates improved sequentially (low‑ to mid‑single‑digit increases) and term contract renewals rose year‑over‑year in the low‑single‑digit range. Long‑term contracts represented ~65% of inland revenues (57% time charters, 43% contracts of affreightment).
Distribution & Services Growth and Sequential Improvement
Distribution & Services revenues of $385 million (+6% YoY) with operating income of $38 million and a 10% operating margin. Segment sequentially improved: revenues +11% and operating income +63% vs Q1 driven by Power Generation and marine repair.
Power Generation Momentum and Backlog Expansion
Power Generation revenues +8% YoY, representing ~40% of the segment. Management updated backlog to $1.0B–$1.5B and expects the installed base to meaningfully expand (management expects installed base to roughly double over ~18 months), supporting future aftermarket service opportunities.
Fleet Size, Age Profile and Supply Dynamics
End‑Q2 inland fleet: 1,034 barges representing 25.2 million barrels of capacity (expected to be slightly up for 2026). Average barge age ~18 years (typical economic life ~30 years). Management sees limited industry capacity additions (newbuild economics ~40% below attractive levels); line of sight for ~60 barges in shipyards this year largely replacement.
Capital Allocation, Liquidity and Share Repurchases
Available liquidity of $566 million, cash on hand $39 million and total debt $1.04 billion (debt‑to‑capitalization 23.1%). Net cash from operations was $72.2 million vs capex $71.5 million in Q2. Returned $59.7 million to shareholders via buybacks in Q2 (avg price $142) and repurchased an additional $25–29 million QTD (avg $140). Full‑year capex guidance $220–$260 million and CFFO guidance $575–$675 million.
MX:KEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed