Kirby: Inland Recovery, Coastal Strength, And Power Generation Tailwinds Support Upside

2026-02-20 12:52:56 ET

Investment Thesis

Kirby Corporation ( KEX ) is poised for good revenue growth, supported by improving inland marine utilization and pricing, continued strength in the coastal marine market, and strong demand in the power generation business. In inland marine transportation, barge utilization and spot pricing are improving after seeing weakness in the last quarter. Further, supply dynamics are favourable in marine transportation with new barge construction expected to remain below retirements, which should support contract renewals and drive revenue growth. In the Distribution & Services segment, revenue growth should benefit from strong demand for power generation solutions driven by AI-driven power requirements....

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