Kirby Corporation Announces Third Quarter 2026 Results

David Grzebinski, Chief Executive Officer of Kirby Corporation

“Our third quarter results reflected strong continued momentum across both businesses and solid execution throughout the organization. In marine transportation, strong barge utilization and favorable pricing trends supported performance during the quarter, though rising fuel costs continued to impact margins. In distribution and services, results benefited from robust demand in power generation and the strong growth of behind-the-meter solutions. Overall, the company executed well during the quarter and delivered solid financial and operating results, reflecting our continued focus on safety and operational excellence.”

David Grzebinski, Chief Executive Officer of Kirby Corporation

“In inland marine, market fundamentals remained constructive during the quarter. Strong refinery operating rates, healthy petrochemical activity, and limited new industry capacity supported barge utilization in the low-90% range. Spot market rates improved sequentially in the low- to mid-single-digit range during the quarter, and term contract renewals increased in the low-single-digits compared with the prior year. Rising fuel costs remained a near-term headwind as higher costs were mitigated but not fully offset by cost escalators and rate recovery mechanisms in the quarter. Overall, the inland business delivered margins in the 20% range driven by a combination of steady demand, disciplined execution and limited industry capacity additions.”

David Grzebinski, Chief Executive Officer of Kirby Corporation

“In coastal marine, customer demand remained stable with barge utilization in the high-90% range while third quarter coastal revenues increased slightly year-over-year. We had one contract renewal in the third quarter with an increase in the low-double-digit range. Operating margins were in the mid-teens range reflecting market specific dynamics and ongoing cost pressures.”

David Grzebinski, Chief Executive Officer of Kirby Corporation

“In distribution and services, results reflected favorable market conditions for power generation and strong execution by our commercial and operational teams. Third quarter revenues increased 6% year-over-year, driven by strong demand for behind-the-meter and backup power generation solutions and a healthy environment for commercial and industrial.”

David Grzebinski, Chief Executive Officer of Kirby Corporation

“As we enter the fourth quarter of 2026, we remain encouraged by the momentum across our businesses. Driven by strong operational execution and favorable market conditions, we believe Kirby is well positioned to capitalize on opportunities across our end markets and deliver solid performance in the remainder of the year. Despite ongoing macroeconomic and geopolitical uncertainty, customer demand remains healthy across many of our end markets. Based on current market conditions, we are narrowing our full-year earnings per share growth guidance to 10% to 15% and currently expect results toward the upper end of the range.”