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Kirby EPS Estimates Northbound: Should Investors Buy the Stock?
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Key Takeaways
Healthy marine fundamentals, resilient liquidity and continued buybacks support KEX's growth potential.
KEX maintains 5%-15% of 2026 earnings growth and expects results to trend toward the upper end of the range.
KEX shares have gained so far this year, but underperform its industry and peers like SBLK and SHIP.
Kirby Corporation (KEX - Free Report) is currently mired in multiple tailwinds, which, we believe, have made it an impressive investment option. The positive sentiment surrounding Kirby stock is evident from the fact that the Zacks Consensus Estimate for the third quarter of 2026 and the fourth quarter of 2026 earnings has been revised upward in the past 60 days. The consensus mark for 2026 and 2027 earnings has also been projected upward in the past 60 days.
The favorable estimate revisions indicate brokers’ lack of confidence in the stock.
Image Source: Zacks Investment Research
Given this backdrop, the question now arises whether it is worth buying, holding, or selling the Kirby stock at current prices. Let us delve deeper to find out.
Factors Working in Favor of Kirby Stock
Kirby's marine transportation markets continue to benefit from high utilization and pricing discipline. Management expects inland 2026 revenues to grow in the mid-to-high-single-digit range with operating margins in the high-teens to low-20% range. Coastal revenues are expected to rise in the mid-single-digit range with margins in the mid-to-high-teens range. Management plans $170-$210 million for marine maintenance, improvements to existing equipment and facilities in 2026. Refinery utilization and petrochemical activity remain supportive of this outlook. Management also expects 2026 earnings per share growth to trend toward the upper end of its 5%-15% guidance range.
Kirby has maintained a recurring buyback program across recent years. The company repurchased $112.8 million of shares in 2023 and $174.6 million in 2024, followed by $354 million in 2025. In the second quarter of 2026, Kirby returned another $59.7 million through repurchases at an average price of $142.38 and bought an additional $29.0 million during the third quarter to date at an average price of $139.92. Diluted shares outstanding averaged 53.7 million in the second quarter of 2026 compared with 56.4 million a year earlier. A lower share count can support per-share earnings, while continued repurchases show that buybacks remain an active use of capital alongside investment in the business.
Kirby Stock’s Price Performance
Shares of KEX have gained 26.9% so far this year, underperforming the Zacks Transportation - Shipping industry’s 51.3% surge, as well as that of other industry players, Star Bulk Carriers Corp. (SBLK - Free Report) and Seanergy Maritime Holdings Corp (SHIP - Free Report) ) within the same time frame.
KEX Stock’s YTD Price Comparison
Image Source: Zacks Investment Research
Attractive Valuation Picture for KEX Stock
Kirby looks cheap from a valuation standpoint. Considering the trailing 12-month price-to-book (P/B)ratio, Kirby is trading at a discount compared to the industry.
The stock has a trailing 12-month P/B-TTM of 2.17X compared with 2.40X for the industry over the past five years. These factors indicate that the stock’s valuation is attractive. KEX has a Value Score of B.
KEX P/B Ratio (Trailing 12 months) Vs. Industry
Image Source: Zacks Investment Research
Time to Buy Kirby Stock
Kirby continues to benefit from constructive marine transportation fundamentals, with healthy utilization and firmer inland pricing supporting revenue growth. Expected cash generation, ample liquidity and ongoing share repurchases also support financial flexibility and per-share value. Management's expectation for full-year earnings growth toward the upper end of its guidance range reinforces the favorable demand backdrop.
We believe that the positives surrounding the stock (as highlighted throughout the write-up) outweigh the concerns regarding rising operating costs, original equipment manufacturer supply limitations, which can create shipment timing variability and subdued oil and gas activity.
View the Zacks #1 Rank List
Image: Bigstock
Kirby EPS Estimates Northbound: Should Investors Buy the Stock?
Key Takeaways
Kirby Corporation (KEX - Free Report) is currently mired in multiple tailwinds, which, we believe, have made it an impressive investment option. The positive sentiment surrounding Kirby stock is evident from the fact that the Zacks Consensus Estimate for the third quarter of 2026 and the fourth quarter of 2026 earnings has been revised upward in the past 60 days. The consensus mark for 2026 and 2027 earnings has also been projected upward in the past 60 days.
The favorable estimate revisions indicate brokers’ lack of confidence in the stock.
Given this backdrop, the question now arises whether it is worth buying, holding, or selling the Kirby stock at current prices. Let us delve deeper to find out.
Factors Working in Favor of Kirby Stock
Kirby's marine transportation markets continue to benefit from high utilization and pricing discipline. Management expects inland 2026 revenues to grow in the mid-to-high-single-digit range with operating margins in the high-teens to low-20% range. Coastal revenues are expected to rise in the mid-single-digit range with margins in the mid-to-high-teens range. Management plans $170-$210 million for marine maintenance, improvements to existing equipment and facilities in 2026. Refinery utilization and petrochemical activity remain supportive of this outlook. Management also expects 2026 earnings per share growth to trend toward the upper end of its 5%-15% guidance range.
Kirby has maintained a recurring buyback program across recent years. The company repurchased $112.8 million of shares in 2023 and $174.6 million in 2024, followed by $354 million in 2025. In the second quarter of 2026, Kirby returned another $59.7 million through repurchases at an average price of $142.38 and bought an additional $29.0 million during the third quarter to date at an average price of $139.92. Diluted shares outstanding averaged 53.7 million in the second quarter of 2026 compared with 56.4 million a year earlier. A lower share count can support per-share earnings, while continued repurchases show that buybacks remain an active use of capital alongside investment in the business.
Kirby Stock’s Price Performance
Shares of KEX have gained 26.9% so far this year, underperforming the Zacks Transportation - Shipping industry’s 51.3% surge, as well as that of other industry players, Star Bulk Carriers Corp. (SBLK - Free Report) and Seanergy Maritime Holdings Corp (SHIP - Free Report) ) within the same time frame.
KEX Stock’s YTD Price Comparison
Attractive Valuation Picture for KEX Stock
Kirby looks cheap from a valuation standpoint. Considering the trailing 12-month price-to-book (P/B)ratio, Kirby is trading at a discount compared to the industry.
The stock has a trailing 12-month P/B-TTM of 2.17X compared with 2.40X for the industry over the past five years. These factors indicate that the stock’s valuation is attractive. KEX has a Value Score of B.
KEX P/B Ratio (Trailing 12 months) Vs. Industry
Time to Buy Kirby Stock
Kirby continues to benefit from constructive marine transportation fundamentals, with healthy utilization and firmer inland pricing supporting revenue growth. Expected cash generation, ample liquidity and ongoing share repurchases also support financial flexibility and per-share value. Management's expectation for full-year earnings growth toward the upper end of its guidance range reinforces the favorable demand backdrop.
We believe that the positives surrounding the stock (as highlighted throughout the write-up) outweigh the concerns regarding rising operating costs, original equipment manufacturer supply limitations, which can create shipment timing variability and subdued oil and gas activity.
We, therefore, suggest investors add Kirby stock to their portfolios for healthy returns. The company’s Zacks Rank #2 (Buy) further supports our thesis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.