KIRBY CORP 8-K

What Happened
Kirby Corporation announced its financial results for the fourth quarter ended December 31, 2025 via a press release filed with an 8‑K on January 29, 2026 (Exhibit 99.1). The release presents non‑GAAP measures, including Adjusted EBITDA and free cash flow, and includes reconciliations of those measures to GAAP results for the fourth quarters and full years of 2025 and 2024.

Key Details

• Filing date: January 29, 2026; quarter covered: period ended December 31, 2025.
• Adjusted EBITDA definition: net earnings attributable to Kirby before interest expense, income taxes, depreciation and amortization, and impairment of assets; reconciliations to GAAP net earnings are included.
• Other non‑GAAP measures disclosed: earnings before income taxes (excluding one‑time items), net earnings attributable to Kirby (excluding one‑time items), diluted EPS (excluding one‑time items), and free cash flow (net cash from operating activities less capital expenditures). Reconciliations to GAAP are provided in the press release.
• Management notes: these non‑GAAP measures are used for internal performance evaluation, incentive bonuses, credit rating assessments, analyst coverage and valuation, but are not substitutes for GAAP results.

Why It Matters
Investors should review both the GAAP results and the reconciliations because Kirby highlights Adjusted EBITDA and free cash flow as key metrics used for performance measurement, liquidity assessment and credit evaluation. The disclosure of one‑time adjustments and reconciliations helps investors compare operating trends across periods, but these non‑GAAP figures should be considered alongside the full GAAP financial statements to get a complete picture of profitability and cash generation.