Kirby Posts $6.33 EPS in 2025 as Fund Makes $25 Million Bet on Marine Operator

On February 17, 2026, Atlantic Investment Management, Inc. disclosed a new position in Kirby Corporation (NYSE:KEX), acquiring 223,000 shares in an estimated $24.57 million trade based on quarterly average pricing.

What happened

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Atlantic Investment Management, Inc. established a new position in Kirby Corporation (NYSE:KEX) by purchasing 223,000 shares. The fund’s quarter-end position in Kirby Corporation was valued at $24.57 million, reflecting both the share purchase and stock price movement during the period.

What else to know

• This was a new position for the fund, making up 13.8% of 13F reportable assets under management after the trade.
• Top five holdings after the filing:
  • NYSE:AXTA: $33.09 million (18.6% of AUM)
  • NYSE:KEX: $24.57 million (13.8% of AUM)
  • NYSE:FLS: $21.79 million (12.3% of AUM)
  • NYSE:APTV: $21.00 million (11.8% of AUM)
  • NYSE:OSK: $19.42 million (10.9% of AUM)
• As of February 17, 2026, shares of Kirby Corporation were priced at $126.68, up 20% over the past year and well outperforming the S&P 500’s roughly 13% gain in the same period.

Company overview

Company snapshot

• Kirby offers marine transportation services via tank barges and towboats, transporting petrochemicals, black oil, refined petroleum products, and agricultural chemicals; it also provides distribution and services for engines, transmissions, and energy storage equipment.
• The firm generates revenue primarily through transportation of bulk liquid products across U.S. inland and coastal waterways, as well as through sales, rentals, and aftermarket services for marine and industrial equipment.
• It serves industrial companies, oilfield operators, and the U.S. government, with a focus on the U.S. inland waterway system and coastal trade.

Kirby Corporation is a leading provider of marine transportation and distribution services in the United States, operating a large fleet of tank barges and towboats. The company leverages its scale and expertise to serve critical energy and chemical supply chains across major waterways. Kirby's integrated business model and broad customer base support its position as a key logistics partner in the marine shipping industry.

What this transaction means for investors

This move matters because it plants real capital behind a business already operating at record earnings with improving fundamentals, not just cyclical hope.

Kirby just delivered $6.33 in diluted EPS for 2025 on $3.36 billion in revenue, up from $4.91 a year ago, with fourth-quarter EPS of $1.68. Marine transportation posted a 20.8% operating margin in Q4, while distribution and services grew operating income and continues to benefit from power generation demand that rose 47% year over year in the quarter.

The position now represents 14% of reported assets, a meaningful allocation alongside other concentrated industrial names like Axalta and Flowserve. That signals conviction in a steady, asset-heavy operator tied to energy logistics and infrastructure rather than high-beta growth.

Inland utilization is already trending into the low 90% range, pricing appears to be firming, and management expects earnings in 2026 to be flat to up 12% year over year. Ultimately, for long-term investors, the story is operational leverage.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aptiv. The Motley Fool recommends Flowserve. The Motley Fool has a disclosure policy.