Kirby Corporation reported a solid third quarter, achieving earnings per share of $1.65, a 6% increase year-over-year, driven by robust demand in power generation and strong execution in core operations despite near-term challenges in inland marine transportation.

• Marine Transportation segment revenues were $485 million, with an operating margin of 18.3%, facing headwinds from lower utilization and spot market pricing.
• Power generation revenues soared 56% year-over-year due to heightened demand from data centers and ongoing project wins, solidifying its position as the main growth driver.
• Coastal marine transportation performances remained strong with utilization rates in the mid- to high 90% range, leading to significant term contract renewal rate improvements in the mid-teens.
• Distribution and Services segment operating income advanced 40% year-over-year, demonstrating strong growth despite challenges in the oil and gas sector.
• Positive market trends are anticipated to continue into the fourth quarter, potentially offsetting the seasonal slowdown.