Kirby: 3 Key Takeaways for Long-Term Investors
On its third-quarter 2026 earnings call, held on Oct. 28, 2026, Kirby (NYSE:KEX) announced third-quarter earnings per share of $2.09, up 27% year over year. Tight vessel supply across inland waterways gives the barge operator rare pricing leverage during contract renewals. Meanwhile, booming demand for data center power equipment expands its higher-margin equipment and servicing backlog. Three things management said stand out. Barge utilization, the percentage of active vessels carrying cargo, stayed in the low-90% range while spot market rates outpaced contract rates. Higher spot prices create negotiating leverage as a major portion of long-term charters, or multiyear shipping contracts, comes up for annual pricing reset in the fourth quarter. Continue reading