Ken Hoexter

Scott Group

Sherif Elmaghrabi

Gregory Wasikowski

Reed Seay

Benjamin Nolan

Daniel Imbro

Gregory Lewis

Greg Wasikowski

Jon Chappell

Ariel Rosa

Bascome Majors

John Daniel

Jonathan Chappell

- Kirby Corporation reported **net earnings attributable to Kirby of $92.5 million, or $1.65 per share**, for the third quarter ended September 30, 2025, marking a 6% increase year-over-year.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]**  Consolidated revenues for the quarter reached **$871.2 million**, compared to $831.1 million in the 2024 third quarter.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]** 
- The company repurchased **1,314,009 shares for $120.0 million** in Q3 2025 and an additional **428,955 shares for $36 million** so far in Q4 2025.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]** 
- Performance varied across segments: **coastal marine** maintained strong market fundamentals with barge utilization in the **mid to high-90% range** and operating margins around **20%**.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]** **[56047_0001193125-25-255469_kex-ex99_1.htm:2]**  The **power generation** market within distribution and services saw revenues increase **56% year-over-year**, contributing to segment margins of **11%**.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]** **[56047_0001193125-25-255469_kex-ex99_1.htm:2]** 
- In contrast, **inland marine** experienced near-term softness with average barge utilization in the **mid-80% range** and declining spot market rates, although improvements are already being observed in the fourth quarter.  **[56047_0001193125-25-255469_kex-ex99_1.htm:1]** **[56047_0001193125-25-255469_kex-ex99_1.htm:2]** 
- For the full year 2025, Kirby anticipates net cash provided from operating activities to be between **$620 million and $720 million**, with capital spending projected to range from **$260 million to $290 million**.  **[56047_0001193125-25-255469_kex-ex99_1.htm:3]**

Kirby Corporation Announces Q3 2025 Results

- Kirby (KEX) reported **Q3 2025 revenues of $871.2 million** and **earnings per share of $1.65**, representing a **6% year-over-year increase** in EPS.  **[0000056047_2210959:3]** 
- The **Power Generation segment** was a significant growth driver, with revenues increasing **56% year-over-year** and operating income rising **96% year-over-year**, primarily due to strong demand from data centers and prime power customers.  **[0000056047_2210959:3]** **[0000056047_2210959:4]** 
- The company generated **$160 million in free cash flow** during Q3 2025 and repurchased **$120 million of its stock** in the same quarter.  **[0000056047_2210959:3]** **[0000056047_2210959:6]** 
- For the full year 2025, Kirby expects cash flow from operations to range between **$620 million and $720 million**, with capital expenditures projected to be between **$260 million and $290 million**.  **[0000056047_2210959:6]**

Kirby (KEX) Announces Q3 2025 Results

- Kirby Corporation reported **Q3 2025 earnings per share of $1.65**, a **6% increase year-over-year**, driven by robust customer demand in power generation and disciplined operational execution.  **[0000056047_2213414_1]** 
- The Marine Transportation segment generated **$485 million in revenues** and an **18.3% operating margin** in Q3 2025, experiencing near-term softness in inland marine (utilization in **mid 80% range**) but continued strength in coastal marine (utilization in **mid to high 90% range**).  **[0000056047_2213414_1]** **[0000056047_2213414_3]** 
- The Distribution and Services segment delivered **$386 million in revenues** and an **11% operating margin** for Q3 2025, largely fueled by power generation, which saw revenues increase **56% year-over-year** and operating income rise **96% year-over-year**.  **[0000056047_2213414_1]** **[0000056047_2213414_2]** **[0000056047_2213414_3]** **[0000056047_2213414_4]** 
- As of September 30, 2025, the company maintained a strong balance sheet with **$47 million in cash**, **$1.05 billion in total debt**, and a **net debt to EBITDA ratio of 1.3x**, having repurchased **$120 million** of stock in Q3 and an additional **$40 million** since quarter-end.  **[0000056047_2213414_4]** 
- Management anticipates **2025 will be a record earnings year** and expects modest improvement in inland revenues and margins in Q4, continued robust coastal conditions, and plans to allocate significant Q4 free cash flow towards **share repurchases**.  **[0000056047_2213414_6]** **[0000056047_2213414_7]**

Kirby Corporation Announces Q3 2025 Earnings and Outlook

- Kirby (KEX) reported **Q3 2025 earnings per share of $1.65**, marking a **6% increase year over year**.  **[0000056047_2211351_1]** 
- The Marine Transportation segment achieved **$485 million in revenue** and an **18.3% operating margin**, while the Distribution and Services segment generated **$386 million in revenue** with an **11% operating margin**, notably driven by **56% year-over-year revenue growth** in power generation.  **[0000056047_2211351_3]** **[0000056047_2211351_4]** 
- As of September 30, 2025, the company maintained a strong balance sheet with **$47 million in cash**, **~$1.05 billion in total debt**, and a **net debt to EBITDA ratio of 1.3 times**.  **[0000056047_2211351_4]** **[0000056047_2211351_15]**  **Free cash flow for Q3 2025 was $160 million**.  **[0000056047_2211351_4]** 
- Kirby repurchased **$120 million of stock** in Q3 2025 and an additional **$40 million** post-quarter.  **[0000056047_2211351_4]**  The company projects **2025 to be a record earnings year**, with full-year earnings expected at the **low end of its previous guidance range**.  **[0000056047_2211351_6]** **[0000056047_2211351_9]**

Kirby Reports Q3 2025 Earnings and Operational Highlights

- Kirby Corporation reported **Q3 2025 earnings per share of $1.65**, representing a **6% increase year over year**.  **[0000056047_2213394_1]** 
- The **Coastal Marine Transportation** segment maintained strong fundamentals, with barge utilization consistently in the **mid to high 90% range** and term contract renewals increasing in the **mid teens year over year**, achieving operating margins around **20%**.  **[0000056047_2213394_1]** 
- The **Distribution and Services** segment delivered solid growth, particularly in **Power Generation**, where revenues were up **56% year over year** and operating income increased **96% year over year**, driven by robust demand from data centers and prime power customers.  **[0000056047_2213394_1]** **[0000056047_2213394_4]** 
- The **Inland Marine Transportation** business experienced near-term softness in Q3 2025, with barge utilization averaging in the **mid 80% range** and spot market rates declining in the **low to mid single digits**.  **[0000056047_2213394_1]**  However, market conditions are showing signs of improvement, with current utility reported at **87.6%**.  **[0000056047_2213394_1]** **[0000056047_2213394_9]** 
- As of September 30, 2025, Kirby's balance sheet remained strong with **$47 million in cash** and **$1.05 billion in total debt**, and the company repurchased **$120 million** of stock in Q3 2025 at an average price of **$91**.  **[0000056047_2213394_4]**

Kirby Corporation Reports Q3 2025 Earnings and Segment Performance

- Kirby Corporation reported **net earnings attributable to Kirby** of **$92.5 million** or **$1.65 per share** for the third quarter ended September 30, 2025, marking a **6% year-over-year increase**.  **[56047_04b77123086343c2b9039affe5702863_0]** **[56047_04b77123086343c2b9039affe5702863_1]**  **Consolidated revenues** for the quarter were **$871.2 million**.  **[56047_04b77123086343c2b9039affe5702863_1]** 
- The **coastal marine** segment showed strong market fundamentals with operating margins improving to around **20%**, and **power generation revenue** increased **56% year-over-year**, contributing to distribution and services margins of **11%**.  **[56047_04b77123086343c2b9039affe5702863_0]** **[56047_04b77123086343c2b9039affe5702863_1]** **[56047_04b77123086343c2b9039affe5702863_2]** 
- The company repurchased **1,314,009 shares** for **$120.0 million** at an average price of **$91.30** during the third quarter of 2025, with additional repurchases in the fourth quarter.  **[56047_04b77123086343c2b9039affe5702863_0]** **[56047_04b77123086343c2b9039affe5702863_3]** 
- For the full year 2025, Kirby expects to generate **net cash provided from operating activities** between **$620 million and $720 million** and anticipates **capital spending** ranging from **$260 million to $290 million**.  **[56047_04b77123086343c2b9039affe5702863_4]**

KIRBY (KEX)