Q2 2026 Kirby Corp Earnings Call Transcript
Key Points
- Kirby Corp (KEX) reported a second-quarter earnings per share of $1.67, up 11% sequentially, reflecting solid execution across its businesses.
- Marine Transportation segment saw strong customer demand, with inland marine pricing improving and barge utilization in the low 90% range.
- Distribution and Services segment revenues increased 6% year-over-year, driven by sustained growth in power generation and strong marine repair activity.
- The company has a strong balance sheet with $566 million of available liquidity and a debt to capitalization ratio of 23.1%.
- Kirby Corp (KEX) reaffirmed its full-year earnings per share growth guidance of 5% to 15%, expecting results to trend toward the upper end of that range.
- Higher fuel costs created a temporary margin headwind during the quarter, impacting operating income in the Marine Transportation segment.
- Coastal marine segment experienced low single-digit declines in term contract renewal rates due to market-specific dynamics.
- OEM engine availability continues to affect the timing of customer deliveries in the power generation business.
- The oil and gas segment's revenues were still down year-over-year, despite modest improvement in market conditions.
- The company faces ongoing inflationary pressures, impacting labor, paint, steel, and electronics costs.
Good day, and thank you for standing by. Welcome to the Kirby Corporation 2026 second 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, VP of Investor Relations. Please go ahead.
Good morning, and thank you for joining the Kirby Corporation 2026 second 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
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