Kirby Corporation Announces Board Approval for Authorization to Repurchase Up to Eight Million Shares
Kirby Corporation (NYSE: KEX) has announced a new share repurchase program authorizing the buyback of up to 8 million additional shares of common stock. This comes on top of the existing authorization with 0.8 million shares remaining, bringing the total available for repurchase to 8.8 million shares.
The company's CEO, David Grzebinski, emphasized that this decision reflects confidence in Kirby's earnings potential and consistent free cash flow generation. The authorization has no expiration date and allows purchases through various means, including open market, private transactions, and Rule 10b5-1 trading plans.
Kirby Corporation (NYSE: KEX) ha annunciato un nuovo programma di riacquisto di azioni che autorizza il riacquisto fino a 8 milioni di azioni aggiuntive ordinarie. Questo si aggiunge all'autorizzazione esistente con 0,8 milioni di azioni residue, portando il totale disponibile per il riacquisto a 8,8 milioni di azioni.
Il CEO, David Grzebinski, ha sottolineato che la decisione riflette la fiducia nel potenziale di utili di Kirby e nella costante generazione di flussi di cassa liberi. L'autorizzazione non ha scadenza e consente acquisti tramite diversi strumenti, inclusi il mercato aperto, transazioni private e piani di negoziazione secondo la Rule 10b5-1.
Kirby Corporation (NYSE: KEX) ha anunciado un nuevo programa de recompra de acciones que autoriza la adquisición de hasta 8 millones de acciones adicionales ordinarias. Esto se suma a la autorización existente, que tiene 0,8 millones de acciones pendientes, elevando el total disponible para recompra a 8,8 millones de acciones.
El director general, David Grzebinski, destacó que la decisión refleja confianza en el potencial de ganancias de Kirby y en su capacidad constante para generar flujo de caja libre. La autorización no tiene fecha de expiración y permite compras por distintos medios, incluidos mercado abierto, transacciones privadas y planes de negociación bajo la Rule 10b5-1.
Kirby Corporation (NYSE: KEX)는 보통주 추가 800만 주까지 매입을 승인하는 새로운 자사주 매입 프로그램을 발표했습니다. 이는 기존 승인 중 80만 주가 남아 있는 것에 더해 총 매입 가능 주식 수가 880만 주가 됨을 의미합니다.
CEO 데이비드 그레젠빈스키(David Grzebinski)는 이번 결정이 Kirby의 수익 잠재력과 꾸준한 잉여 현금 흐름에 대한 신뢰를 반영한다고 강조했습니다. 해당 승인에는 만료일이 없으며, 공개 시장, 사적 거래, Rule 10b5-1 거래 계획 등 다양한 수단을 통해 매입할 수 있습니다.
Kirby Corporation (NYSE: KEX) a annoncé un nouveau programme de rachat d'actions autorisant l'acquisition de jusqu'à 8 millions d'actions supplémentaires ordinaires. Cela s'ajoute à l'autorisation existante, dont 0,8 million d'actions restent disponibles, portant le total disponible pour rachat à 8,8 millions d'actions.
Le PDG, David Grzebinski, a souligné que cette décision reflète la confiance dans le potentiel de bénéfices de Kirby et dans la génération régulière de flux de trésorerie disponibles. L'autorisation n'a pas de date d'expiration et permet des achats par divers moyens, y compris le marché ouvert, des transactions privées et des plans de négociation Rule 10b5-1.
Kirby Corporation (NYSE: KEX) hat ein neues Aktienrückkaufprogramm angekündigt, das den Rückkauf von bis zu 8 Millionen zusätzlichen Stammaktien genehmigt. Dies kommt zu der bestehenden Genehmigung hinzu, von der noch 0,8 Millionen Aktien verfügbar sind, sodass insgesamt 8,8 Millionen Aktien zum Rückkauf bereitstehen.
Der CEO David Grzebinski betonte, dass die Entscheidung das Vertrauen in Kirbys Gewinnpotenzial und die gleichmäßige Erzeugung von freiem Cashflow widerspiegelt. Die Genehmigung läuft nicht ab und ermöglicht Käufe auf verschiedene Weise, darunter über den offenen Markt, private Transaktionen und Rule-10b5-1-Handelspläne.
- Board approval for significant 8 million share buyback authorization
- Additional 0.8 million shares still available from previous authorization
- Company demonstrates strong free cash flow generation
- No expiration date on the buyback authorization, providing flexibility
- Buyback may reduce cash available for operational investments
- Program execution subject to market conditions and economic uncertainties
Insights
Kirby's 8M share buyback authorization signals management confidence and strong free cash flow generation potential.
Kirby Corporation's announcement of an additional 8 million share repurchase authorization represents a significant capital return initiative that augments their existing program. With approximately 0.8 million shares remaining from their previous 5 million share authorization, this brings Kirby's total repurchase capacity to 8.8 million shares.
This expanded buyback program signals strong management confidence in Kirby's cash flow generation capabilities amid what they describe as "dynamic market conditions." The announcement reinforces their capital allocation strategy which balances three priorities: 1) pursuing inland marine acquisitions, 2) investing in growth areas like power generation, and 3) returning capital to shareholders.
The open-ended nature of this authorization (no expiration date) provides Kirby with considerable flexibility to execute repurchases opportunistically through various mechanisms including open market purchases and Rule 10b5-1 trading plans. CEO David Grzebinski's statement emphasizing the company's "ultimate earnings power" and "ability to consistently generate strong free cash flow" suggests management views the current share price as undervalued relative to their internal projections.
This type of capital return program typically indicates a mature business with stable cash flows exceeding immediate reinvestment needs. For shareholders, buybacks can enhance value by reducing share count, potentially increasing earnings per share and supporting share price appreciation if executed at favorable valuations.
HOUSTON, Sept. 08, 2025 (GLOBE NEWSWIRE) -- Kirby Corporation (“Kirby”) (NYSE: KEX), today announced that its Board of Directors has approved a new share repurchase authorization for up to eight million additional shares of the Company’s common stock. The action reflects the confidence in Kirby’s commercial and operational execution focused on delivering consistent and sustainable free cash flow generation in dynamic market conditions and reaffirms the Company’s capital allocation priorities of pursuing inland marine acquisitions, investing in new growth areas like power generation, and returning capital to shareholders.
This authorization is in addition to the previously announced five million share repurchase authorization of which approximately 0.8 million shares remained available for repurchase as of September 5, 2025. With the new share repurchase authorization, approximately 8.8 million shares are authorized for repurchase by the Company.
“The additional share repurchase authorization reflects confidence in the ultimate earnings power of our company and our ability to consistently generate strong free cash flow,” said Chief Executive Officer David Grzebinski. “We remain committed to our long-term capital allocation strategy that includes returning free cash flow to shareholders over time.”
The Board’s authorization permits the Company to make purchases of its common stock from time to time in the open market, through privately negotiated transactions, block transactions or by other means, including Rule 10b5-1 trading plans, subject to market and other conditions, up to the aggregate amount authorized by the Board. The Board’s authorization has no expiration date.
Forward-Looking Statements
Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management’s reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including adverse economic conditions, industry competition and other competitive factors, adverse weather conditions such as high water, low water, tropical storms, hurricanes, tsunamis, fog and ice, tornadoes, marine accidents, lock delays, fuel costs, interest rates, construction of new equipment by competitors, government and environmental laws and regulations, and the timing, magnitude and number of acquisitions made by the Company. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby’s annual report on Form 10-K for the year ended December 31, 2024.
About Kirby Corporation
Kirby Corporation, based in Houston, Texas, is the nation’s largest domestic tank barge operator transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. Kirby transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge. In addition, Kirby participates in the transportation of dry-bulk commodities in United States coastwise trade. Through the distribution and services segment, Kirby provides after-market services and genuine replacement parts for engines, transmissions, reduction gears, electric motors, drives, and controls, specialized electrical distribution and control systems, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications. Kirby also rents equipment including generators, industrial compressors, high capacity lift trucks, construction equipment, and refrigeration trailers for use in a variety of industrial markets. Kirby also manufactures and remanufactures specialized equipment, including pressure pumping units, electric power generation equipment, and specialized electrical distribution and control equipment for oilfield service, railroad and other industrial customers.
| Contact: | Kurt Niemietz |
| 713-435-1077 |
FAQ
How many shares is Kirby Corporation (KEX) authorized to repurchase in their new buyback program?
What is the expiration date for KEX's share repurchase program?
What methods can Kirby Corporation use to execute their share repurchase program?
What are Kirby Corporation's capital allocation priorities as mentioned in the announcement?
Who is the CEO of Kirby Corporation commenting on the share repurchase program?
