Recent Updates — KEX

Kirby Corporation reported third-quarter net earnings attributable to Kirby of $110.8 million, or $2.09 per diluted share, compared with $92.5 million, or $1.65 per share, in the prior-year period. Total revenues increased 17% year-over-year to $977.2 million from $871.2 million. The company returned $112 million to shareholders through share repurchases during the quarter. Additionally, Kirby entered into an agreement to acquire certain inland marine assets for $115 million, including nine towboats and fourteen barges, with closing expected in the fourth quarter of 2026. Management updated its full-year earnings per share growth guidance range to 10% to 15%. Kirby Corporation is the nation’s largest domestic tank barge operator and provides power generation equipment and services.

Ronald A. Dragg, Kirby Corporation’s Vice President, Controller and Assistant Secretary, announced his intention to retire effective following the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2026. Mr. Dragg will remain in his current positions during the transition period to ensure an orderly handover of responsibilities. The departure is voluntary and not due to any disagreement regarding operations or internal controls. Terms for compensatory arrangements have not yet been determined. Kirby Corporation operates in the marine transportation industry, providing towboat, barge, and offshore services.

Kirby Corporation reported second quarter 2026 net earnings of $89.7 million, or $1.67 per diluted share, matching the prior year period despite a 9% increase in total revenues to $922.4 million from $855.5 million. Marine transportation revenues rose 9% to $537.0 million, while distribution and services revenues grew 6% to $385.4 million. The company returned $59.7 million to shareholders via share repurchases in the quarter and has bought an additional $29.0 million into Q3 at an average price of $139.92. Management expects full-year earnings per share growth to trend toward the upper end of its 5% to 15% guidance range, supported by strengthening inland marine fundamentals and robust power generation demand in distribution services. Kirby Corporation operates as a leading provider of marine transportation and industrial equipment services.