--- title: "Kirby | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 922.4 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294251826.md" datetime: "2026-07-29T19:56:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294251826.md) - [en](https://longbridge.com/en/news/294251826.md) - [zh-HK](https://longbridge.com/zh-HK/news/294251826.md) generator: "portal-rs" --- # Kirby | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 922.4 M Revenue: As of FY2026 Q2, the actual value is USD 922.4 M, beating the estimate of USD 871.57 M. EPS: As of FY2026 Q2, the actual value is USD 1.67, beating the estimate of USD 1.645. EBIT: As of FY2026 Q2, the actual value is USD 129.38 M. #### Overall Financial Performance (Second Quarter 2026 vs. 2025) Kirby Corporation reported Net Earnings Attributable to Kirby Corporation of $89.7 million in 2026, a decrease from $94.3 million in 2025. Total Revenues for 2026 were $922.4 million, an increase from $855.5 million in 2025. Non-GAAP EBITDA was $199.7 million in 2026, slightly down from $202.2 million in 2025. #### Cash Flow Net Cash Provided by Operating Activities was $72.2 million in 2026, decreased from $94.0 million in 2025. Capital Expenditures remained consistent at $71.5 million in both 2026 and 2025. Non-GAAP Free Cash Flow was $0.7 million in 2026, a decrease from $22.5 million in 2025. #### Liquidity and Capital Allocation As of June 30, 2026, Kirby Corporation had $39.0 million in Cash and Cash Equivalents and Total Debt of $1,037.3 million. The Debt-to-Capitalization Ratio stood at 23.1% as of June 30, 2026. The company returned $59.7 million to shareholders through share repurchases in the second quarter of 2026 at an average share price of $142.38, with an additional $29.0 million repurchased in the third quarter of 2026 to date at an average share price of $139.92. #### Marine Transportation Segment (Second Quarter 2026 vs. 2025) Revenues for the Marine Transportation segment were $537.0 million in 2026, up from $492.6 million in 2025. Operating Income for the segment was $87.8 million in 2026, down from $99.1 million in 2025, resulting in an Operating Margin of 16.4% in 2026, a decrease from 20.1% in 2025. - **Inland Marine**: This sub-segment represented 80% of segment revenues in Q2 2026, with operating margins in the high-teens range. Average barge utilization was in the low-90% range, and average spot market rates increased in the low-to-mid-single digit range sequentially. The Average Cost per Gallon of Fuel Consumed (Inland) significantly increased to $4.23 in 2026 from $2.35 in 2025. Ton Miles (in millions) increased to 3,857 in 2026 from 3,659 in 2025, and Revenue/Ton Mile (cents/tm) rose to 11.2 in 2026 from 10.9 in 2025. Average Towboats Operated slightly increased to 291 in 2026 from 290 in 2025, while Delay Days decreased to 2,567 in 2026 from 3,320 in 2025. - **Coastal Marine**: Revenues increased 10% year-over-year, with operating margins in the low-to-mid-teens range. This sub-segment represented approximately 20% of segment revenues in Q2 2026, and barge utilization was in the high-90% range. #### Distribution and Services Segment (Second Quarter 2026 vs. 2025) Revenues for the Distribution and Services segment were $385.4 million in 2026, an increase from $362.9 million in 2025. Operating Income increased to $38.2 million in 2026 from $35.4 million in 2025, with the Operating Margin slightly up to 9.9% in 2026 from 9.8% in 2025. - **Power Generation Market**: Revenues increased 8% and operating income increased 27% compared to Q2 2025, representing approximately 40% of segment revenues with high-single-digit operating margins. - **Commercial and Industrial Market**: Revenues increased 12% and operating income increased 11% compared to Q2 2025, representing approximately 50% of segment revenues with low-double-digit operating margins. - **Oil and Gas Market**: Revenues decreased 17% and operating income decreased 45% compared to Q2 2025. However, revenues and operating income increased 20% and 67% sequentially, respectively. This market represented approximately 10% of segment revenues, with operating margins in the mid-to-high-single-digit range. #### 2026 Outlook Kirby Corporation anticipates full-year earnings per share growth to trend towards the upper end of its 5% to 15% guidance range, driven by strengthening inland marine fundamentals and growth in power generation. Inland marine revenues are projected to grow mid-to-high-single digits with high-teens to low-20% operating margins, while coastal marine revenues are expected to increase mid-single digits with mid-to-high-teens operating margins. The Distribution and Services segment anticipates mid-single-digit revenue growth and mid-to-high-single-digit operating margins for the full year, with net cash from operations between $575 million and $675 million and capital spending from $220 million to $260 million. ### Related Stocks - [KEX.US](https://longbridge.com/en/quote/KEX.US.md) ## Related News & Research - [Kirby files Form 3 for VP Finance and IR Donny Chia](https://longbridge.com/en/news/296522055.md) - [Heartland Advisors Inc. 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