Kirby Corporation (NYSE:KEX) delivered second-quarter results that came in just ahead of Wall Street expectations, buoyed by steady performance across its marine transportation and distribution segments. Following the earnings release, shares inched up 0.01% in after-hours trading.
The Houston-based barge transportation company reported earnings of $1.67 per share, narrowly beating the consensus estimate of $1.66. Quarterly revenue reached $855.45 million, modestly ahead of the expected $852.51 million.
Compared to the same quarter in 2024, earnings rose 17% from $1.43 per share, and revenue increased 3.8%, up from $824.4 million.
“Kirby delivered another solid quarter, with strong performance across both marine transportation and distribution and services,” said David Grzebinski, CEO of Kirby. “Our teams executed well in a dynamic environment, and we continued to benefit from healthy customer demand, disciplined pricing, and operational focus.”
Kirby’s inland marine transportation division operated under stable market conditions, maintaining barge utilization between the low and mid-90% range. Improvements in the spot market helped lift operating margins into the low 20% range. In the coastal marine segment, favorable market dynamics pushed margins into the high teens.
The distribution and services unit posted revenue of $362.9 million, an increase from $339.6 million a year ago. A standout contributor was the power generation business, where revenue surged by 31% year-over-year.
Looking forward, Kirby reaffirmed its full-year 2025 earnings growth outlook of 15–25%, but noted that evolving trade policies could pose new challenges.
“If the current softness persists, we will likely be closer to the lower end of our prior full year EPS growth guidance,” Grzebinski added.
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