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KEX

Kirby Corporation

KEX

Kirby Corporation • NYSE
$113.52 ▲ 0.38% (+0.43)
Market Cap $6.41 B
52w High $126.97
52w Low $79.52
Dividend Yield 0%
P/E 21.1
Volume 300.45K
Outstanding Shares 56.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $871.161M ▲ $97.58M ▲ $92.496M ▼ 10.618% ▼ $1.66 ▼ $201.649M ▼
Q2-2025 $855.455M ▲ $94.701M ▼ $94.277M ▲ 11.021% ▲ $1.68 ▲ $202.328M ▲
Q1-2025 $785.659M ▼ $104.047M ▼ $75.986M ▲ 9.672% ▲ $1.33 ▲ $174.61M ▲
Q4-2024 $802.315M ▼ $146.274M ▲ $42.817M ▼ 5.337% ▼ $0.75 ▼ $116.18M ▼
Q3-2024 $831.149M $91.475M $89.968M 10.825% $1.56 $190.532M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $47.025M ▼ $6.064B ▼ $2.7B ▲ $3.361B ▼
Q2-2025 $68.383M ▲ $6.08B ▲ $2.69B ▲ $3.388B ▲
Q1-2025 $51.078M ▼ $6.015B ▲ $2.687B ▲ $3.326B ▼
Q4-2024 $74.444M ▲ $5.852B ▼ $2.499B ▼ $3.352B ▲
Q3-2024 $67.073M $5.871B $2.567B $3.302B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $92.738M ▼ $227.531M ▲ $-59.726M ▲ $-189.163M ▼ $-21.358M ▼ $160.251M ▲
Q2-2025 $94.378M ▲ $93.922M ▲ $-62.974M ▲ $-13.643M ▼ $17.305M ▲ $22.449M ▲
Q1-2025 $76.27M ▲ $36.541M ▼ $-175.856M ▼ $115.949M ▲ $-23.366M ▼ $-42.146M ▼
Q4-2024 $42.816M ▼ $247.384M ▲ $-102.737M ▼ $-137.276M ▼ $7.371M ▼ $150.714M ▲
Q3-2024 $89.968M $206.503M $-71.605M $-121.365M $13.533M $130.12M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Distribution And Services
Distribution And Services
 $350.00M ▲$680.00M ▲$310.00M ▼$360.00M ▲
Marine Transportation
Marine Transportation
 $490.00M ▲$950.00M ▲$480.00M ▼$490.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, showing that demand for Kirby’s services has been strengthening. Profitability has improved meaningfully: the company moved from losses a few years ago to solid operating and net profits more recently. Margins have widened as volumes recovered and pricing and efficiency improved, turning what was once a challenged business period into one with much healthier earnings per share. That said, the business still depends heavily on energy, petrochemical, and industrial cycles, so earnings can swing when those end markets soften.

Balance Sheet

Balance Sheet Kirby carries a sizable but manageable asset base typical of a capital‑intensive marine fleet. Debt levels have been trending down over time, while shareholder equity has been building, which points to a gradual strengthening of the balance sheet and reduced financial risk. Cash on hand is relatively low, but this is partly offset by consistent cash generation and access to long‑lived assets that hold value. Overall, the company looks reasonably well‑positioned financially, though it remains exposed to asset maintenance needs and the cost of renewing and upgrading its fleet.

Cash Flow

Cash Flow Cash flow from operations has improved notably, tracking the rebound in earnings. The company has consistently generated positive free cash flow after investing in its fleet and equipment, although the margin of safety has varied year to year as capital spending shifted. Recent years show stronger cash generation even with higher investment, suggesting better earning power and more flexibility to fund debt reduction, fleet upgrades, and new technologies. The key watchpoint is that maintaining and modernizing vessels will continue to require meaningful, recurring investment.

Competitive Edge

Competitive Edge Kirby holds a leading position as the largest inland tank barge operator in the United States, with scale, network reach, and customer relationships that are difficult for smaller rivals to match. Its operations benefit from the Jones Act, which limits foreign competition in domestic shipping and helps protect pricing and utilization. The company also has a diversified model, combining marine transportation with a substantial distribution and services business, which adds more stable, aftermarket revenue and reduces dependence on any single end market. Its long history, safety record, and “blue chip” customer base further reinforce its standing, though the business remains sensitive to volumes and pricing in energy and industrial markets.

Innovation and R&D

Innovation and R&D Innovation at Kirby is focused on cleaner, more efficient operations and broader energy solutions rather than traditional lab‑style R&D. The hybrid diesel‑electric towboat program, starting with the Green Diamond, is a clear example of environmental and fuel‑efficiency progress, and follow‑on vessels suggest this is a strategic direction, not a one‑off project. The company is also pushing into alternative fuels, low‑emission hardware such as advanced vapor relief valves, and exploring biofuels, all of which align with tightening environmental expectations. In its distribution and services arm, Kirby is leaning into power generation, electrical equipment, and energy storage systems, positioning itself to benefit from growth in backup power, data centers, and potentially offshore wind and other renewable‑linked infrastructure.

Summary

Kirby has transitioned from a period of losses to a phase of healthier growth and profitability, supported by stronger demand and better operating efficiency. Its balance sheet has been quietly improving through reduced debt and growing equity, while cash flows now more comfortably cover the heavy investment required in its fleet and equipment. The company benefits from strong structural advantages: scale, regulatory protection from the Jones Act, a wide network, and a diversified set of marine and service offerings that appeal to high‑quality customers. At the same time, the business remains tied to cyclical energy and industrial activity and to ongoing capital needs. Kirby’s push into hybrid vessels, lower‑emission technologies, and power and energy storage solutions suggests a forward‑looking strategy that could strengthen its position if environmental and reliability requirements continue to tighten, but the pace of adoption and returns on these initiatives remain key areas to monitor.

NEWS

November 26, 2025 · 8:00 PM UTC

FLY ALERT: Kirby McInerney LLP Reminds Firefly Aerospace Investors of Important Deadline in Class Action Lawsuit

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November 26, 2025 · 6:00 PM UTC

ARE ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Alexandria Real Estate Equities Investors

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November 25, 2025 · 8:00 PM UTC

STUB ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of StubHub Holdings, Inc. Investors

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November 20, 2025 · 6:00 PM UTC

StubHub Holdings, Inc. INVESTIGATION: Kirby McInerney LLP Announces Investigation Into Potential Securities Fraud on behalf of Investors (STUB)

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November 18, 2025 · 8:00 PM UTC

FLY: Kirby McInerney LLP Advises Firefly Aerospace Investors of Class Action Lawsuit

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