Kirby Corporation reported second-quarter earnings per share of $1.67, flat year-over-year but up 11% sequentially. The company now expects full-year EPS growth toward the upper end of its 5%-15% guidance range. Marine transportation revenue rose 9% year-over-year to $537 million, though operating income fell 11% due to temporarily higher fuel costs and elevated shipyard activity. Management expects to recover most fuel-cost impacts through contractual adjustments in the third quarter. The Distribution and Services segment grew 6%, driven by power generation and marine repair. The power-generation backlog expanded to between $1 billion and $1.5 billion, supported by demand from data centres and industrial customers. Kirby repurchased nearly $60 million of stock during the quarter and approximately $29 million more early in the third quarter.

Kirby, a marine transportation services provider, has seen its shares rise 24.5% to $139.54 over the past six months, outperforming the S&P 500 by 17.5 percentage points. The company's revenue grew at an 11.1% compound annual growth rate over five years, surpassing the average industrials company. Kirby's free cash flow margin expanded by 8.9 percentage points over the past five years, reaching 14.5% over the trailing 12 months. However, the company's five-year average return on invested capital was 4.2%, below the typical cost of capital for industrials companies, suggesting historically mediocre capital efficiency. The stock currently trades at 19.9× forward price-to-earnings ratio. Kirby provides inland and coastal marine transportation services across all US coasts.

Kirby Corporation shares have gained 11.3% over the past three months, outperforming its industry. The Zacks Consensus Estimate for earnings per share has been revised upward by 2.2% for the current year and 2.6% for 2027, reflecting analyst confidence. The transportation and shipping company benefits from strong marine transportation market conditions and momentum in power generation. First-quarter 2026 revenues rose 12% year-over-year, whilst power generation revenues increased 45%, supported by growing demand and expanding backlog. Kirby has outperformed earnings expectations in each of the past four quarters, delivering an average surprise of 4.56%. The company recently agreed to acquire 23 barges and three boats for $95.8 million to strengthen fleet capacity. Kirby currently carries a Zacks Rank of 2 (Buy).