Filing Flows › Kirby (KEX) › Q1 2026
Kirby (KEX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Kirby (KEX) reported revenue of $844M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -0.9% from the quarter before. Operating margin was 12.8%, net earnings $81.3M (9.6% of revenue).
Kirby, Q1 2026: revenue $844M (+7% year over year), operating margin 12.8%, net earnings $81.3M, operating cash flow $97.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $844M | -0.9% | +7% |
| Operating profit | $108M | -17% | +2% |
| Net earnings | $81.3M | -12% | +7% |
| Operating cash flow | $97.7M | -69% | +167% |
| Free cash flow | $49.4M | — | — |
What changed
Revenue was $844.1M in Q1 2026, up 7% year over year and down 1% from the previous quarter. Marine Transportation was the largest line at 59% of revenue. Distribution and Services added $37.4M year over year (up 12%), 64% of the total change.
Operating profit was $107.7M, a 12.8% margin (down 0.7 points year over year). Of the extra revenue versus Q1 2025, 4% reached operating profit, below the 13% margin then. Total costs grew 8% against revenue growth of 7%. Net earnings were $81.2M, up 7% year over year. The effective tax rate was 22.3%.
Operating cash flow was $97.7M (up 167% year over year), 120% of net earnings. Non-cash charges added back $68.2M of depreciation and amortization and $10.1M of share-based compensation. Working capital and other items used $62.1M. After capital expenditures ($48.3M), free cash flow as the company reports it was $49.4M.
Questions
What was Kirby's revenue in the first quarter 2026?
Kirby (KEX) reported revenue of $844M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -0.9% from the quarter before.
Was Kirby profitable in the first quarter 2026?
Operating profit was $108M (12.8% of revenue) and net earnings $81.3M.
Source: Kirby 10-Q on SEC EDGAR.