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Kirby (KEX) guidance and outlook
Kirby (KEX) raised its guidance on Oct 28, 2026: EPS +10% to +15% for FY2026; Operating margin 20% for FY2026; Operating cash flow $575M–$675M for FY2026. Kirby's 10-Q filed Nov 6, 2026 makes 14 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| EPS | FY2026 | +10% to +15% | raised |
| Operating margin | FY2026 | 20% | reaffirmed |
| Operating cash flow | FY2026 | $575M–$675M | reaffirmed |
From the earnings release filed Oct 28, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 6, 2026
- The Company projects that capital expenditures for 2026 will be in the $220 million to $260 million range.
- The Company also owns a two-thirds interest in Osprey Line, L.L.C., which transports project cargoes and cargo containers by barge on the United States inland waterway system.
- The Company expects these costs to be substantially recovered in subsequent quarters as contractual fuel escalation provisions take effect.
- Overall, the Company expects to deliver improved financial results in 2026.
- The Company expects barge utilization rates to remain steady for the year with continued improvement in pricing as the year progresses.
- The Company does expect more shipyard days in the coastal marine transportation market as compared to 2025.
- The Company expects these costs to be ultimately recovered in subsequent quarters as there is generally a 30 to 120 day delay before term contracts are adjusted for fuel costs.
- The Company expects stable growth in KDS in 2026 as near-term volatility from supply issues, customers deferring maintenance, and lower overall levels of activity in the oil and gas market are offset by increased orders in the power generation market.
- In power generation, the Company anticipates continued strong growth in orders as data center demand and the increasing need for prime behind the meter and backup power continues to be strong.
- In oil and gas, the Company expects revenues to be down as the transition from conventional diesel hydraulic fracturing to electric hydraulic fracturing continues to take place.
- The Company anticipates extended lead times and supply delays for certain original equipment manufacturer (“OEM”) products, especially in the power generation market, to continue in the 2026 fourth quarter and into 2027.
- The Company charters in or releases chartered towboats in an effort to balance horsepower needs with current requirements, taking into account variability in demand or anticipated demand, addition or removal of tank barges from the fleet, chartered towboat availability, and weather or water conditions.
Kirby's latest quarter
Kirby, Q3 2026: revenue $977M (+12% year over year), operating margin 15.4%, net earnings $111M, operating cash flow $143M. The chart follows the revenue to costs, profit and cash.
Questions
Did Kirby raise or lower its guidance?
Kirby (KEX) raised its guidance on Oct 28, 2026: EPS +10% to +15% for FY2026; Operating margin 20% for FY2026; Operating cash flow $575M–$675M for FY2026.
What does Kirby expect?
The Company projects that capital expenditures for 2026 will be in the $220 million to $260 million range. The Company also owns a two-thirds interest in Osprey Line, L.L.C., which transports project cargoes and cargo containers by barge on the United States inland waterway system. The Company expects these costs to be substantially recovered in subsequent quarters as contractual fuel escalation provisions take effect.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.