KIRBY CORP

Listed Company

KEXCIK 0000056047NYSELarge AcceleratedWater TransportationNevadaFY ends Dec 31

Period

FY 2025

Revenue

$3.36B

Net Income

$354.57M

Total Assets

$6.01B

Equity

$3.38B

Shares Out

53.65M

Op. Cash Flow

$670.20M

Business

Kirby Corporation provides marine transportation and industrial equipment distribution and services, focusing on moving bulk liquid and dry‑bulk commodities and servicing industrial engines and equipment. It transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge, and offers after‑market parts and service, equipment rental, and manufacture/remanufacture of pressure pumping units, power generation and electrical distribution equipment. The company operates through two reportable segments: Marine Transportation (KMT) and Distribution and Services (KDS). Its operations serve the Mississippi River System, the Gulf Intracoastal Waterway and coastwise U.S. markets, supported by a national branch network and logistics, fleeting and shipyard facilities.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3,364	3,266	3,092	2,785	2,247
Costs of sales and operating expenses	2,217	2,200	2,180	2,061	1,653
Selling, general and administrative	356	337	335	303	267
Taxes, other than on income	36	35	35	35	36
Depreciation and amortization	264	240	211	201	214
Impairments	0	56	0	0	341
Gain on disposition of assets	−5	−2	−5	−8	−6
Total costs and expenses	2,868	2,867	2,757	2,592	2,505
Operating income	496	399	335	193	−258
Other income	21	13	11	17	10
Interest expense	−46	−49	−52	−45	−42
Earnings before taxes on income	471	363	294	165	−291
Provision for taxes on income	−116	−76	−71	−42	44
Net earnings	355	287	223	123	−247
Less: Net (earnings) loss attributable to noncontrolling interests	−846,000	−189,000	30,000	−470,000	−183,000
Net earnings attributable to Kirby	355	287	223	122	−247
Basic	6.37	4.95	3.74	2.04	−4.11
Diluted	6.33	4.91	3.72	2.03	−4.11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	79	74	33	81	35
Trade - less allowance for doubtful accounts of $7,175 ($7,321 in 2024)	473	490	527	483	418
Other	70	47	52	115	150
Inventories - net	398	394	454	462	331
Prepaid expenses and other current assets	58	63	69	71	70
Total current assets	1,078	1,069	1,135	1,212	1,004
Property and equipment - net	4,098	4,023	3,861	3,633	3,679
Operating lease right-of-use assets	193	159	152	155	168
Investment in affiliates	3	3	3	2	2
Goodwill	439	439	439	439	439
Other intangibles, net	30	34	43	51	60
Other assets	167	125	89	63	48
Total assets	6,008	5,852	5,722	5,555	5,399
Bank notes payable	7	8	8	3	2
Income taxes payable	0	25	1	323,000	0
Accounts payable	219	251	269	278	199
Interest	12	12	13	12	11
Insurance premiums and claims	83	88	85	65	111
Employee compensation	66	68	69	56	39
Taxes - other than on income	32	36	32	30	45
Other	40	32	30	42	30
Current portion of operating lease liabilities	46	36	33	36	34
Deferred revenues	202	177	135	119	73
Total current liabilities	707	735	676	642	544
Long-term debt, net - less current portion	912	867	1,009	1,076	1,161
Deferred income taxes	826	739	697	626	574
Operating lease liabilities - less current portion	170	148	139	142	160
Other long-term liabilities	11	10	16	23	71
Total long-term liabilities	1,919	1,764	1,860	1,868	1,967
Contingencies and commitments	0	0	0	0	0
Common stock, $0.10 par value per share. Authorized 120,000,000 shares, issued 65,472,000	7	7	7	7	7
Additional paid-in capital	873	869	864	859	855
Accumulated other comprehensive income - net	86	71	35	17	−26
Retained earnings	3,333	2,978	2,692	2,469	2,346
Treasury stock - at cost, 11,701,000 shares in 2025 and 8,215,000 shares in 2024	−919	−573	−412	−309	−295
Total Kirby stockholders' equity	3,381	3,352	3,185	3,043	2,886
Noncontrolling interests	2	1	1	2	2
Total equity	3,383	3,353	3,187	3,045	2,889
Total liabilities and equity	6,008	5,852	5,722	5,555	5,399

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for doubtful accounts	3	2	402,000	1	−138,000
Provision for deferred income taxes	82	31	65	38	−44
Amortization of share-based compensation	18	16	15	14	16
Amortization of major maintenance costs	29	33	29	29	33
Other	−2	407,000	−3	−283,000	−640,000
Accounts receivable	17	40	−50	−32	29
Inventory	4	12	8	−127	−19
Other assets	−48	−19	−38	−28	−38
Income taxes payable	−51	24	72	2	480,000
Accounts payable	−19	−11	−18	76	16
Accrued and other liabilities	21	46	32	5	28
Net cash provided by operating activities	670	756	540	294	322
Capital expenditures	−264	−343	−402	−173	−98
Acquisitions of businesses and marine equipment	−116	−78	−38	−4	−9
Proceeds from disposition of assets	31	20	26	37	51
Other	−3	0	0	—	—
Net cash used in investing activities	−352	−400	−413	−140	−56
Borrowings (payments) on bank credit facilities, net	44	−44	49	1	−248
Borrowings on long-term debt	0	0	240	310	0
Payments on long-term debt	0	−100	−350	−395	−60
Payment of debt issue costs	0	−3,000	−1	−2	0
Proceeds from exercise of stock options	5	9	4	4	629,000
Payments related to tax withholding for share-based compensation	−6	−5	−4	−3	−3
Treasury stock purchases	−354	−175	−113	−23	0
Other	−3	−100,000	−99,000	—	—
Net cash used in financing activities	−314	−315	−175	−109	−311
Increase (decrease) in cash and cash equivalents	4	42	−48	46	−46
Interest paid	46	49	49	43	41
Operating cash outflow from operating leases	52	46	44	44	44
Capital expenditures included in accounts payable	−14	−7	10	3	19
Right-of-use assets obtained in exchange for lease obligations	74	54	39	23	34

Filings

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