Form 8-K

8-K — KIRBY CORP

Accession: 0001193125-26-323594

Filed: 2026-07-29

Period: 2026-07-29

CIK: 0000056047

SIC: 4400 (WATER TRANSPORTATION)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — kex-20260729.htm (Primary)

EX-99.1 (kex-ex99_1.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: kex-20260729.htm · Sequence: 1

8-K

false000005604700000560472026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

KIRBY CORPORATION

(Exact name of registrant as specified in its charter)

Nevada

1-7615

74-1884980

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

55 Waugh Drive, Suite 1000

Houston, Texas

77007

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: 713-435-1000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

KEX

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 29, 2026, Kirby Corporation (“Kirby” or the "Company") issued a press release announcing results for the second quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 to this report.

EBITDA, a non-GAAP financial measure, is used in the press release. Kirby defines EBITDA as net earnings attributable to Kirby before interest expense, taxes on income, and depreciation and amortization. Kirby has historically evaluated its operating performance using numerous measures, one of which is EBITDA. EBITDA is presented because of its wide acceptance as a financial indicator. EBITDA is one of the performance measures used in calculating performance compensation pursuant to the Company’s annual incentive plan. EBITDA is also used by rating agencies in determining Kirby’s credit rating and by analysts publishing research reports on Kirby, as well as by investors and investment bankers generally in valuing companies. A quantitative reconciliation of EBITDA to net earnings attributable to Kirby for the 2026 and 2025 second quarters and first six months is included in the press release. EBITDA is not a calculation based on generally accepted accounting principles and should not be considered as an alternative to, but should only be considered in conjunction with, Kirby’s GAAP financial information.

The press release also includes non-GAAP financial measures which exclude certain one-time items, including earnings before taxes on income (excluding one-time items), net earnings attributable to Kirby (excluding one-time items), and diluted earnings per share (excluding one-time items). A reconciliation of these measures with GAAP is included in the press release. Management believes that the exclusion of certain one-time items from these financial measures enables it and investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of Kirby’s normal operating results. The press release additionally includes free cash flow, a non-GAAP financial measure, which Kirby defines as net cash provided by operating activities less capital expenditures. A reconciliation of free cash flow with GAAP is included in the press release. Kirby uses free cash flow to assess and forecast cash flow and to provide additional disclosures on the Company’s liquidity. Free cash flow does not imply the amount of residual cash flow available for discretionary expenditures as it excludes mandatory debt service requirements and other non-discretionary expenditures. These non-GAAP financial measures are not calculations based on generally accepted accounting principles and should not be considered as an alternative to, but should only be considered in conjunction with Kirby’s GAAP financial information.

Item 9.01. Financial Statements and Exhibits

(d)

Exhibits

EXHIBIT INDEX

Exhibit Number

Description of Exhibit

99.1

Press release dated July 29, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KIRBY CORPORATION

Date:

July 29, 2026

By:

/s/ Raj Kumar

Raj Kumar

Executive Vice President

and Chief Financial Officer

EX-99.1

Filename: kex-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

KIRBY CORPORATION

Contact: Matt Kerin

713-435-1077

FOR IMMEDIATE RELEASE

KIRBY CORPORATION ANNOUNCES SECOND QUARTER 2026 RESULTS

•

Second quarter 2026 earnings per share of $1.67, in line with the prior year and up 11% sequentially

•

Marine transportation revenues increased 9% year-over-year as market fundamentals strengthened, supported by strong customer demand and healthy utilization across the portfolio

•

Distribution and services revenues grew 6% year-over-year, driven by continued growth in power generation and strong commercial and industrial activity

•

Returned $59.7 million of capital to shareholders through share repurchases during the second quarter of 2026 at an average share price of $142.38, and an additional $29.0 million during the third quarter of 2026 to date at an average share price of $139.92

•

Expects results to trend toward the upper end of the full-year earnings per share growth guidance range of 5% - 15% based on current market conditions

HOUSTON, July 29, 2026 – Kirby Corporation (“Kirby” or “the Company”) (NYSE: KEX) today announced net earnings attributable to Kirby for the second quarter ended June 30, 2026, of $89.7 million, or $1.67 per share, compared with earnings of $94.3 million, or $1.67 per share, for the 2025 second quarter. Total revenues for the 2026 second quarter were $922.4 million compared with $855.5 million for the 2025 second quarter.

David Grzebinski, Kirby’s Chief Executive Officer, commented, "Our second quarter results reflected strong execution across both businesses, driving an 11% sequential increase in earnings per share. In marine transportation, the inland market continued to strengthen, supported by steady customer demand, healthy barge utilization, and pricing improvements across both term contract renewals and spot market activity. While marine transportation margins were impacted by previously disclosed fuel cost headwinds in inland marine and elevated shipyard activity in coastal marine, customer demand remained healthy and overall marine transportation conditions were constructive during the quarter. In distribution and services, results benefited from continued demand growth in power generation and sustained growth in commercial and industrial markets. Overall, our businesses performed well during the quarter and delivered solid results, reflecting healthy end-market conditions and a continued focus on operational excellence.”

“In inland marine, market fundamentals remained constructive during the quarter, supported by strong refinery utilization, favorable customer activity, and barge utilization in the low-90% range. Spot market rates improved sequentially during the quarter, while term contract renewals increased in the low-single digits compared with the prior year. As previously communicated, rising fuel costs created a near-term headwind to margins during the quarter; however, cost escalators and rate recovery mechanisms are expected to reverse this margin headwind in the third quarter. The combination of steady demand, improving pricing, and disciplined execution supported operating margins in the high-teens range.”

“In coastal marine, customer demand remained healthy, with barge utilization in the high-90% range. However, market-specific dynamics affecting smaller-capacity ATBs in the 80,000 to 100,000 barrel range led to low-single-digit declines in term contract renewal rates year-over-year. Despite these pressures, second quarter coastal

revenues increased 10% year-over-year. Operating margins were in the low-to-mid-teens range, primarily due to elevated shipyard activity.”

“In distribution and services, results reflected strong performance across several end markets. Second quarter revenues increased 6% year-over-year, driven by strong demand for behind-the-meter and backup power generation solutions and continued growth in commercial and industrial activity. Oil and gas activity also improved compared with the first quarter of 2026. Overall, the segment delivered solid results across its portfolio, demonstrating the strength of the Company’s market positions and momentum in several key growth areas,” Mr. Grzebinski concluded.

Segment Results – Marine Transportation

Marine transportation revenues for the 2026 second quarter were $537.0 million compared with $492.6 million for the 2025 second quarter. Operating income for the 2026 second quarter was $87.8 million compared with $99.1 million for the 2025 second quarter. Operating margin for the 2026 second quarter was 16.4% compared with 20.1% for the 2025 second quarter.

In inland marine, average barge utilization was in the low-90% range during the second quarter of 2026. Average spot market rates increased in the low-to-mid-single digit range sequentially during the quarter, reflecting improving market fundamentals. Term contract renewals increased in the low-single-digit range on average compared with the prior year. The inland market represented 80% of segment revenues in the second quarter of 2026. Inland operating margins were in the high-teens range, reflecting the impact of previously disclosed fuel cost headwinds.

In coastal marine, market activity remained strong, with barge utilization in the high-90% range. Coastal marine revenues increased 10% year-over-year and operating margins were in the low-to-mid-teens range, primarily reflecting a higher number of planned shipyard days during the quarter. While overall market conditions remained favorable, term contract renewals decreased in the low-single-digit range on average compared with the prior year, reflecting increased vessel availability in the 80,000 to 100,000 barrel ATB market. Coastal marine represented approximately 20% of segment revenues in the second quarter of 2026.

Segment Results – Distribution and Services

Distribution and services revenues for the 2026 second quarter were $385.4 million compared with $362.9 million for the 2025 second quarter. Operating income for the 2026 second quarter was $38.2 million compared with $35.4 million for the 2025 second quarter. Operating margin was 9.9% for the 2026 second quarter compared with 9.8% for the 2025 second quarter.

In the power generation market, revenues increased 8% and operating income increased 27% compared with the 2025 second quarter, reflecting continued demand for behind-the-meter and backup power solutions and solid execution despite ongoing OEM-related supply constraints. Order activity remained strong, driven by demand from data center and industrial customers. Power generation represented approximately 40% of segment revenues for the quarter, with operating margins in the high-single-digit range.

In the commercial and industrial market, revenues increased 12% and operating income increased 11% compared with the 2025 second quarter, primarily reflecting strong marine repair activity and healthy demand across other industrial end markets. Commercial and industrial represented approximately 50% of segment revenues for the quarter, with operating margins in the low-double-digit range.

In the oil and gas market, revenues decreased 17% and operating income decreased 45% compared with the 2025 second quarter; however, revenues and operating income increased 20% and 67%, respectively, on a sequential basis, reflecting improved demand for parts and services. Oil and gas revenues represented approximately 10% of segment revenues for the quarter, with operating margins in the mid-to-high-single-digit range.

Financial Highlights

For the 2026 second quarter, EBITDA (non-GAAP) was $199.7 million compared with $202.2 million for the 2025 second quarter. During the quarter, net cash provided by operating activities was $72.2 million, and capital expenditures were $71.5 million, resulting in free cash flow (non-GAAP) of $0.7 million. Working capital requirements were elevated during the quarter, primarily reflecting stronger business activity across both segments, including

continued growth in power generation, timing of collections and shipments, and higher fuel-related receivables in marine transportation. In the 2026 second quarter, Kirby returned $59.7 million of capital through share repurchases at an average share price of $142.38. Additionally, the Company repurchased $29.0 million of shares during the third quarter of 2026 to date at an average share price of $139.92. As of June 30, 2026, the Company had $39.0 million of cash and cash equivalents and $565.9 million of liquidity available. Total debt was $1,037.3 million and the debt-to-capitalization ratio was 23.1%.

2026 Outlook

Commenting on the outlook for the remainder of 2026, Mr. Grzebinski stated, "As we enter the second half of 2026, we remain encouraged by the momentum across our businesses. Inland marine fundamentals continue to strengthen, supported by healthy utilization and improving pricing, while power generation remains a significant contributor to growth in distribution and services. Backed by our market-leading positions and disciplined operating approach, we believe Kirby is well positioned to capitalize on opportunities across our end markets and deliver solid performance in the second half of the year. Based on current market conditions, we remain comfortable with our full-year earnings per share growth guidance of 5% to 15% and currently expect results to trend toward the upper end of the range."

In inland marine, market fundamentals remain constructive, supported by strong refinery utilization and healthy petrochemical activity. Barge utilization is expected to remain in the low-90% range, while both spot pricing and term contract renewal rates are expected to improve further during the second half of the year. Overall, inland revenues are expected to grow in the mid-to-high-single-digit range, with operating margins expected to be in the high-teens to low-20% range for the full year.

In coastal marine, customer demand remains strong and barge utilization is expected to be in the high-90% range. While certain contract renewals during the second quarter reflected market-specific dynamics, pricing trends are expected to remain healthy as the year progresses. Overall, revenues are expected to increase in the mid-single-digit range for the full year, with operating margins expected to be in the mid-to-high-teens range.

In distribution and services, ongoing growth in power generation and strong marine repair activity are expected to continue driving segment results. In power generation, order momentum remains strong, supported by data center demand and the need for behind‑the‑meter and backup power solutions. While OEM engine delivery timing continues to create some variability in quarterly results, underlying customer demand remains robust. In commercial and industrial, marine repair demand is expected to remain healthy, while on‑highway activity remains constrained. In oil and gas, activity is expected to remain subdued, although market conditions have improved modestly from recent lows. Overall, the Company expects segment revenues to be up mid-single digits for the full year, with operating margins in the mid-to-high‑single‑digits.

The Company expects to generate net cash provided by operating activities of $575 million to $675 million in 2026 and capital spending is expected to range from $220 million to $260 million. Approximately $170 million to $210 million is expected to be allocated to marine maintenance capital and improvements to existing inland and coastal marine equipment, and facility improvements. Up to approximately $65 million is expected to be allocated to growth capital spending across both of our businesses.

Conference Call

A conference call is scheduled for 7:30 a.m. Central Daylight Time today, Wednesday, July 29, 2026, to discuss the 2026 second quarter performance as well as the outlook for 2026. To listen to the webcast, please visit the Investor Relations section of Kirby’s website at www.kirbycorp.com. For listeners who wish to participate in the question and answer session via telephone, please pre-register at Kirby Earnings Call Registration. All registrants will receive dial-in information and a PIN allowing them to access the live call. A slide presentation for this conference call will be posted on Kirby’s website approximately 15 minutes before the start of the webcast. A replay of the webcast will be available for a period of one year by visiting the News & Events page in the Investor Relations section of Kirby’s website.

GAAP to Non-GAAP Financial Measures

The financial and other information to be discussed in the conference call is available in this press release and in a Form 8-K filed with the Securities and Exchange Commission. This press release and the Form 8-K includes a non-GAAP financial measure, EBITDA, which Kirby defines as net earnings attributable to Kirby before interest expense, taxes on income, and depreciation and amortization. A reconciliation of EBITDA with GAAP net earnings attributable to Kirby is included in this press release. This press release also includes non-GAAP financial measures which exclude certain one-time items, including earnings before taxes on income (excluding one-time items), net earnings attributable to Kirby (excluding one-time items), and diluted earnings per share (excluding one-time items). A reconciliation of these measures with GAAP is included in this press release. Management believes the exclusion of certain one-time items from these financial measures enables it and investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of Kirby’s normal operating results. This press release additionally includes a non-GAAP financial measure, free cash flow, which Kirby defines as net cash provided by operating activities less capital expenditures. A reconciliation of free cash flow with GAAP is included in this press release. Kirby uses free cash flow to assess and forecast cash flow and to provide additional disclosures on the Company’s liquidity. Free cash flow does not imply the amount of residual cash flow available for discretionary expenditures as it excludes mandatory debt service requirements and other non-discretionary expenditures. This press release also includes marine transportation performance measures, consisting of ton miles, revenue per ton mile, towboats operated and delay days. Comparable marine transportation performance measures for the 2025 year and quarters are available in the Investor Relations section of Kirby’s website, www.kirbycorp.com, under Financials.

Forward-Looking Statements

Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management’s reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including adverse economic conditions, industry competition and other competitive factors, adverse weather conditions such as high water, low water, tropical storms, hurricanes, tsunamis, fog and ice, tornados, marine accidents, lock delays, fuel costs, interest rates, construction of new equipment by competitors, government and environmental laws and regulations, and the timing, magnitude and number of acquisitions made by the Company. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby’s annual report on Form 10-K for the year ended December 31, 2025 and quarterly report on Form 10-Q for the quarter ended March 31, 2026.

About Kirby Corporation

Kirby Corporation, based in Houston, Texas, is the nation’s largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. Kirby transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barge. In addition, Kirby participates in the transportation of dry-bulk commodities in United States coastwise trade. Through the distribution and services segment, Kirby provides equipment, after-market parts and services for power generation systems in applications that include behind the meter power systems and emergency backup systems, after-market and genuine replacement parts and services for engines, transmissions, reduction gears, electric motors, drives, and controls, specialized electrical distribution and controls systems, and related equipment used in power generation, marine, on-highway, oilfield services, and other industrial applications. Kirby also rents equipment including generators, industrial compressors, high-capacity lift trucks, construction equipment, and refrigeration trailers for use in a variety of industrial markets. Kirby also manufactures and remanufactures specialized equipment, including pressure pumping units and electric fracturing systems, electric power generation equipment, and specialized electrical distribution and control equipment for data centers, oilfield service, railroad, and other industrial customers.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

Second Quarter

Six Months

2026

2025

2026

2025

(unaudited, $ in thousands, except per share amounts)

Revenues:

Marine transportation

536,974

492,562

1,034,157

968,711

Distribution and services

385,425

362,893

732,341

672,403

Total revenues

922,399

855,455

1,766,498

1,641,114

Costs and expenses:

Costs of sales and operating expenses

631,599

563,238

1,190,128

1,075,574

Selling, general and administrative

88,709

85,846

189,969

181,133

Taxes, other than on income

10,081

10,542

19,933

19,372

Depreciation and amortization

70,361

65,670

138,599

129,400

Gain on disposition of assets

(708

)

(1,687

)

(2,161

)

(1,757

)

Total costs and expenses

800,042

723,609

1,536,468

1,403,722

Operating income

122,357

131,846

230,030

237,392

Other income

7,027

4,812

14,308

10,146

Interest expense

(10,977

)

(12,730

)

(21,227

)

(23,267

)

Earnings before taxes on income

118,407

123,928

223,111

224,271

Provision for taxes on income

(28,609

)

(29,550

)

(51,987

)

(53,623

)

Net earnings

89,798

94,378

171,124

170,648

Net earnings attributable to noncontrolling interests

(69

)

(101

)

(198

)

(385

)

Net earnings attributable to Kirby

89,729

94,277

170,926

170,263

Net earnings per share attributable to Kirby common stockholders:

Basic

1.68

3.19

3.01

Diluted

1.67

3.17

2.99

Common stock outstanding (in thousands):

Basic

53,375

56,105

53,518

56,520

Diluted

53,696

56,437

53,854

56,869

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Second Quarter

Six Months

2026

2025

2026

2025

(unaudited, $ in thousands)

EBITDA: (1)

Net earnings attributable to Kirby

89,729

94,277

170,926

170,263

Interest expense

10,977

12,730

21,227

23,267

Provision for taxes on income

28,609

29,550

51,987

53,623

Depreciation and amortization

70,361

65,670

138,599

129,400

199,676

202,227

382,739

376,553

Capital expenditures

71,508

71,473

119,764

150,160

Acquisitions of businesses and marine equipment

14,400

—

95,800

97,250

June 30,

2026

December 31,

2025

(unaudited, $ in thousands)

Cash and cash equivalents

38,955

78,775

Long-term debt, including current portion

1,037,348

919,281

Total equity

3,444,994

3,382,793

Debt to capitalization ratio

23.1

21.4

MARINE TRANSPORTATION STATEMENTS OF EARNINGS

Second Quarter

Six Months

2026

2025

2026

2025

(unaudited, $ in thousands)

Marine transportation revenues

536,974

492,562

1,034,157

968,711

Costs and expenses:

Costs of sales and operating expenses

348,465

298,789

649,289

589,776

Selling, general and administrative

35,463

33,415

79,264

73,869

Taxes, other than on income

7,652

8,124

15,219

14,576

Depreciation and amortization

57,592

53,182

112,928

104,854

Total costs and expenses

449,172

393,510

856,700

783,075

Operating income

87,802

99,052

177,457

185,636

Operating margin

16.4

20.1

17.2

19.2

DISTRIBUTION AND SERVICES STATEMENTS OF EARNINGS

Second Quarter

Six Months

2026

2025

2026

2025

(unaudited, $ in thousands)

Distribution and services revenues

385,425

362,893

732,341

672,403

Costs and expenses:

Costs of sales and operating expenses

282,714

264,331

539,998

486,559

Selling, general and administrative

51,431

50,054

104,502

102,073

Taxes, other than on income

2,406

2,391

4,667

4,744

Depreciation and amortization

10,723

10,682

21,677

21,001

Total costs and expenses

347,274

327,458

670,844

614,377

Operating income

38,151

35,435

61,497

58,026

Operating margin

9.9

9.8

8.4

8.6

OTHER COSTS AND EXPENSES

Second Quarter

Six Months

2026

2025

2026

2025

(unaudited, $ in thousands)

General corporate expenses

4,304

4,328

11,085

8,027

Gain on disposition of assets

(708

)

(1,687

)

(2,161

)

(1,757

)

RECONCILIATION OF FREE CASH FLOW

The following is a reconciliation of GAAP net cash provided by operating activities to non-GAAP free cash flow(2):

Second Quarter

Six Months

2026

2025(3)

2026

2025(3)

(unaudited, $ in millions)

Net cash provided by operating activities

72.2

94.0

169.9

130.5

Less: Capital expenditures

(71.5

)

(71.5

)

(119.8

)

(150.2

)

Free cash flow(2)

0.7

22.5

50.1

(19.7

)

MARINE TRANSPORTATION PERFORMANCE MEASUREMENTS

Second Quarter

Six Months

2026

2025

2026

2025

Inland Performance Measurements:

Ton Miles (in millions) (4)

3,857

3,659

7,648

6,988

Revenue/Ton Mile (cents/tm) (5)

11.2

10.9

10.8

11.3

Towboats operated (average) (6)

291

290

287

290

Delay Days (7)

2,567

3,320

5,831

7,349

Average cost per gallon of fuel consumed

4.23

2.35

3.26

2.45

Barges (active):

Inland tank barges

1,134

1,109

Coastal tank barges

Offshore dry-cargo barges

Barrel capacities (in millions):

Inland tank barges

25.2

24.5

Coastal tank barges

2.9

(1)

Kirby has historically evaluated its operating performance using numerous measures, one of which is EBITDA, a non-GAAP financial measure. Kirby defines EBITDA as net earnings attributable to Kirby before interest expense, taxes on income, and depreciation and amortization. EBITDA is presented because of its wide acceptance as a financial indicator. EBITDA is one of the performance measures used in calculating performance compensation pursuant to Kirby’s annual incentive plan. EBITDA is also used by rating agencies in determining Kirby’s credit rating and by analysts publishing research reports on Kirby, as well as by investors and investment bankers generally in valuing companies. EBITDA is not a calculation based on generally accepted accounting principles and should not be considered as an alternative to, but should only be considered in conjunction with, Kirby’s GAAP financial information.

(2)

Kirby uses certain non-GAAP financial measures to review performance excluding certain one-time items including: earnings before taxes on income, excluding one-time items; net earnings attributable to Kirby, excluding one-time items; and diluted earnings per share, excluding one-time items. Management believes the exclusion of certain one-time items from these financial measures enables it and investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Kirby also uses free cash flow, which is defined as net cash provided by operating activities less capital expenditures, to assess and forecast cash flow and to provide additional disclosures on the Company’s liquidity. Free cash flow does not imply the amount of residual cash flow available for discretionary expenditures as it excludes mandatory debt service requirements and other non-discretionary expenditures. These non-GAAP financial measures are not calculations based on generally accepted accounting principles and should not be considered as an alternative to but should only be considered in conjunction with Kirby’s GAAP financial information.

(3)

See Kirby’s annual report on Form 10-K for the year ended December 31, 2025, and its quarterly report on Form 10-Q for the quarter ended June 30, 2025 for amounts provided by (used in) investing and financing activities.

(4)

Ton miles indicate fleet productivity by measuring the distance (in miles) a loaded tank barge is moved. Example: A typical 30,000 barrel tank barge loaded with 3,300 tons of liquid cargo is moved 100 miles, thus generating 330,000 ton miles.

(5)

Inland marine transportation revenues divided by ton miles. Example: Second quarter 2026 inland marine transportation revenues of $431.9 million divided by 3,857 million inland marine transportation ton miles = 11.2 cents.

(6)

Towboats operated are the average number of owned and chartered towboats operated during the period.

(7)

Delay days measures the lost time incurred by a tow (towboat and one or more tank barges) during transit. The measure includes transit delays caused by weather, lock congestion and other navigational factors.

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v3.26.1

Document and Entity Information

Jul. 29, 2026

Cover [Abstract]

Entity Registrant Name

KIRBY CORPORATION

Entity Central Index Key

0000056047

Document Type

8-K

Amendment Flag

false

Document Period End Date

Jul. 29, 2026

Securities Act File Number

1-7615

Entity Incorporation, State or Country Code

Entity Tax Identification Number

74-1884980

Entity Address, Address Line One

55 Waugh Drive

Entity Address, Address Line Two

Suite 1000

Entity Address, City or Town

Houston

Entity Address, State or Province

Entity Address, Postal Zip Code

77007

City Area Code

713

Local Phone Number

435-1000

Title of 12(b) Security

Common Stock

Trading Symbol

KEX

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

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Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

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- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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