Kirby Corp (KEX) Q2 2026: Data Center Demand Lifts Revenue Past $922M
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Kirby beat EPS and revenue estimates as data center power generation demand surged, but fuel costs nearly doubled in its marine transportation segment, compressing margins and pressuring free cash flow to near zero. Management expects the fuel headwind to reverse in Q3 and guided toward the upper end of its full-year 5% to 15% EPS growth range.
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Kirby reported Q2 2026 earnings per share of $1.67, topping the $1.63 consensus estimate by about 2.4%. Revenue came in at $922.4 million, beating expectations by roughly 5.8% and marking the strongest quarterly sales figure in the company's recent history — up from $855.5 million in the same quarter a year earlier. The standout driver was surging demand for power generation tied to data centers, which fueled activity in Kirby's distribution and solutions segment.
The gains came with a notable offset: fuel costs in the marine transportation segment nearly doubled, squeezing margins and pushing free cash flow to near zero for the quarter. That kind of cost spike can weigh heavily on a business where barging fuel is a major operating expense and contracts don't always allow for immediate pass-throughs to customers.
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Management signaled it views the fuel headwind as temporary, expecting it to reverse in Q3. On full-year guidance, Kirby pointed toward the upper end of its 5% to 15% EPS growth range — a sign that leadership remains confident the data center-driven demand tailwind will more than compensate for the margin pressure seen this quarter.
Mentioned: KEX