Kirby Earnings Call Transcripts
Fiscal Year 2026
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First quarter 2026 delivered 13% EPS growth, strong marine utilization, and robust power generation demand, prompting a raised EPS guidance for the year. Capital discipline, high spot rates, and favorable supply-demand dynamics support continued momentum.
Fiscal Year 2025
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Record 2025 earnings were driven by strong marine and power generation performance, robust free cash flow, and disciplined capital allocation. 2026 guidance calls for steady earnings growth, with marine utilization and pricing improving and power generation continuing as a key growth engine.
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Third quarter EPS rose 6% year-over-year, led by strong power generation and coastal marine results, while inland marine faced near-term softness. Power generation backlog hit record levels, and free cash flow and share repurchases remained robust. Utilization and pricing trends are improving into Q4.
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Second quarter 2025 saw 17% EPS growth year-over-year, with strong results in both marine and distribution segments. Power generation demand offset oil and gas softness, and full-year guidance remains positive but cautious due to macro uncertainty. Free cash flow and share repurchases are prioritized.
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Q1 2025 saw EPS rise to $1.33, with strong marine transportation and power generation demand offsetting weather and supply delays. Guidance for 2025 is reaffirmed, with expectations for higher revenues, improved margins, and continued capital returns.
Fiscal Year 2024
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Adjusted Q4 EPS rose 24% year-over-year, with strong free cash flow and robust marine and power generation performance offsetting softness in oil & gas. 2025 guidance calls for 15%-25% EPS growth, higher margins, and continued disciplined capital allocation.
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Third quarter results showed strong revenue and EPS growth, robust free cash flow, and margin expansion in both inland and coastal marine segments. Supply discipline and favorable pricing are expected to support continued performance, while power generation and E-Frac businesses drive backlog growth.
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Q2 2024 saw strong YoY growth in EPS, revenue, and margins, driven by tight supply and robust demand in marine transportation. Distribution & services showed stable demand, with power generation and commercial/industrial growth offsetting oil & gas softness. Full-year guidance was raised, with continued pricing momentum and disciplined capital allocation.