Q1 2026 Kirby Corp Earnings Call Transcript
Key Points
- Kirby Corp (KEX) reported a 13% year-over-year increase in earnings per share, reaching $1.50 for the first quarter of 2026.
- Marine transportation fundamentals improved, with inland barge utilization averaging in the low 90% range and coastal barge utilization in the mid-to-high 90% range.
- The Distribution and Services segment saw a 12% year-over-year revenue increase, driven by strong performance in Power Generation and marine repair activities.
- Kirby Corp (KEX) increased its full-year EPS guidance range to up 5% to 15%, reflecting confidence in continued strong performance.
- The company maintained a strong balance sheet with $58 million in cash and a debt-to-capitalization ratio of 22.3%, alongside significant available liquidity of $635 million.
- Weather-related disruptions and navigational delays negatively impacted inland marine transportation operations.
- Ongoing OEM-related supply constraints affected the Distribution and Services segment, particularly in Power Generation.
- The Oil and Gas market continued to experience softness, with revenues down 25% year-over-year and operating income down 53%.
- Rising fuel costs, particularly diesel, are expected to create near-term cost headwinds in the inland marine operations during the second quarter.
- Delayed OEM engine deliveries are anticipated to impact earnings per share by approximately $0.10 to $0.15 in the second quarter.
Good day and thank you for standing by. Welcome to Kirby Corporation 2026 first quarter earnings conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Matt Kerin. Please go ahead.
Good morning and thank you for joining the Kirby Corporation 2026 First Quarter Earnings Call. With me today are David Grzebinski, Kirby's Chief Executive Officer; Christian O'Neil, Kirby's President and Chief Operating Officer; and Raj Kumar, Kirby's Executive Vice President and Chief Financial Officer.
A slide presentation for today's conference call as well as the earnings release, which was issued earlier today, can be found on our website. During this conference call, we may refer to certain non-GAAP or adjusted financial measures. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our earnings
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