Kirby Corporation 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. This new authorization is in addition to the approximately 0.8 million shares that remained available under a previously announced five million share repurchase authorization as of September 5, 2025.
With this new approval, Kirby Corporation now has approximately 8.8 million shares authorized for repurchase. This action underscores the Board's confidence in Kirby's commercial and operational execution, which is focused on delivering consistent and sustainable free cash flow generation even in dynamic market conditions.
Chief Executive Officer David Grzebinski stated that the additional share repurchase authorization reflects confidence in the company's ultimate earnings power and its ability to consistently generate strong free cash flow. The company remains committed to its long-term capital allocation strategy, which includes returning free cash flow to shareholders over time, alongside pursuing inland marine acquisitions and investing in new growth areas like power generation.
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