# Kirby Reports Higher Profit and Discloses $115 Million Marine Asset Deal

Marine transportation revenue rose 17%; the asset acquisition is expected to close in the fourth quarter.

By Will Langan | 24X7 News
Published: 2026-10-28T14:13:45.438Z
Updated: 2026-10-28T14:13:45.438Z
Section: Business
Format: News
Canonical: https://24x7news.us/articles/kirby-third-quarter-results-marine-assets-october-28-2026

Kirby reported higher quarterly earnings on October 28 and disclosed an agreement to buy $115 million in inland marine assets, according to its results release.

Net earnings attributable to the company reached $110.8 million, or $2.09 per share, for the quarter ended September 30. A year earlier, earnings were $92.5 million, or $1.65 per share.

Revenue increased to $977.2 million from $871.2 million. Marine transportation revenue rose 17% to $568.7 million, while distribution and services revenue increased 6% to $408.5 million.

Kirby cited strong barge utilization and favorable pricing, alongside higher fuel costs that weighed on margins. Its services business benefited from demand for backup and on-site power generation.

The asset agreement, signed during the third quarter, covers nine towboats, 14 tank barges, nine bow thrusters and a Rockport, Texas, fleeting operation serving Corpus Christi. Kirby expects the transaction to close in the fourth quarter, subject to conditions.

The company also reported $112 million in quarterly share repurchases and updated its annual earnings-per-share growth forecast to 10%–15%.

The acquisition is pending, and the earnings outlook remains a projection.

Sources: Kirby third-quarter results release.

## Sources
- Kirby Third-Quarter 2026 Results: https://www.globenewswire.com/news-release/2026/10/28/3390014/0/en/kirby-corporation-announces-third-quarter-2026-results.html