Kirby Corporation will release its 2026 third quarter financial results on Wednesday, October 28, 2026, at 6:00 am CDT, followed by an earnings conference call webcast at 7:30 am CDT.

Earnings release and webcast details

Investors wishing to participate in the question and answer session via telephone may pre-register through the Kirby Earnings Call Registration link to receive dial-in information and a personal PIN for live call access. The webcast will be accessible through the Investor Relations section of Kirby's website at www.kirbycorp.com . A replay of the webcast will remain available for one year via the same Investor Relations section.

The financial and other information to be discussed during the conference call will be available in the 2026 third quarter press release and in a Form 8-K, both to be posted on Kirby's website prior to the call.

About Kirby Corporation

Kirby Corporation, headquartered in Houston, Texas, is the nation's largest domestic tank barge operator. The company transports bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. Its marine transportation portfolio includes petrochemicals, black oil, refined petroleum products, and agricultural chemicals. Kirby also participates in the transportation of dry-bulk commodities in United States coastwise trade.

Through its distribution and services segment, Kirby provides a broad range of products and services, including:

• Equipment, after-market parts, and services for power generation systems, including behind the meter power systems and emergency backup systems
• After-market and genuine replacement parts and services for engines, transmissions, reduction gears, electric motors, drives, and controls
• Specialized electrical distribution and controls systems for power generation, marine, on-highway, oilfield services, and other industrial applications
• Equipment rentals including generators, industrial compressors, high-capacity lift trucks, construction equipment, and refrigeration trailers
• Manufacturing and remanufacturing of specialized equipment, including pressure pumping units, electric fracturing systems, electric power generation equipment, and specialized electrical distribution and control equipment for data centers, oilfield service, railroad, and other industrial customers

Kirby Corporation reported second quarter 2026 net earnings of $89.7 million, or $1.67 per share, on total revenues of $922.4 million, up from $855.5 million in the second quarter of 2025. While revenue grew across both business segments, earnings per share remained flat year-over-year due to margin pressures in the marine transportation division caused by elevated fuel costs and shipyard activity. The company returned $59.7 million to shareholders through share repurchases during the quarter at an average price of $142.38, with an additional $29.0 million repurchased in early third quarter trading.

The results reflect strong execution in distribution and services, which offset softness in marine margins. David Grzebinski, Kirby’s Chief Executive Officer, noted that inland marine fundamentals strengthened with healthy barge utilization and pricing improvements, though fuel cost headwinds impacted operating margins. In distribution and services, demand for power generation solutions and commercial industrial activity drove a 6% year-over-year revenue increase. The company expects full-year earnings per share growth to trend toward the upper end of its 5% to 15% guidance range based on current market conditions.

Segment Performance

Marine transportation revenues increased 9% year-over-year to $537.0 million, compared to $492.6 million in the prior year. However, operating income declined to $87.8 million from $99.1 million, resulting in an operating margin of 16.4%, down from 20.1%. Inland marine, representing 80% of segment revenues, saw barge utilization in the low-90% range with spot market rates improving sequentially. Coastal marine revenues rose 10% year-over-year, but margins were pressured by elevated shipyard activity and low-single-digit declines in term contract renewal rates for smaller-capacity vessels.

Distribution and services revenues grew 6% to $385.4 million from $362.9 million. Operating income increased to $38.2 million from $35.4 million, maintaining a stable operating margin of 9.9%. Power generation revenues rose 8% with a 27% increase in operating income, driven by data center demand. Commercial and industrial revenues jumped 12%, supported by strong marine repair activity. Oil and gas revenues decreased 17% year-over-year but improved 20% sequentially.

Financial Position and Outlook

EBITDA for the quarter was $199.7 million, slightly down from $202.2 million in the prior year. Free cash flow was $0.7 million, derived from $72.2 million in operating cash flow against $71.5 million in capital expenditures. As of June 30, 2026, Kirby held $39.0 million in cash and equivalents with total liquidity of $565.9 million. Total debt stood at $1,037.3 million, yielding a debt-to-capitalization ratio of 23.1%.

Looking ahead, management expects inland marine revenues to grow in the mid-to-high-single-digit range for the full year, with operating margins in the high-teens to low-20% range as fuel cost escalators reverse headwinds. Coastal marine revenues are projected to increase in the mid-single-digit range. Distribution and services revenues are expected to be up mid-single digits for the full year, supported by ongoing power generation order momentum and healthy marine repair demand.