Kirby Rewards Shareholders With New Share Repurchase Authorization

Group 1 - Kirby Corporation (KEX) has announced a stock repurchase authorization of up to an additional 8 million shares of common stock, enhancing shareholder value and signaling confidence in its business strategy [1][9] - This new authorization adds to the previously announced 5 million share repurchase program, with approximately 0.8 million shares remaining available for repurchase as of September 5, 2025, bringing the total authorized repurchase to nearly 8.8 million shares [2] - CEO David Grzebinski stated that the additional share repurchase reflects confidence in the company's earnings power and ability to generate strong free cash flow, emphasizing a commitment to long-term capital allocation strategies [3] Group 2 - Kirby has consistently rewarded shareholders through share buybacks, repurchasing 0.4 million shares for $22.9 million in 2022, 1,485,159 shares for $112.8 million in 2023, and 1.6 million shares for $174.6 million in 2024 [4] - Share buybacks are seen as a signal of financial health and management's belief in the stock's intrinsic value, which can boost investor confidence and positively impact the company's bottom line [5] Group 3 - Other companies in the transportation sector, such as Werner Enterprises and Union Pacific Corporation, have also announced shareholder-friendly initiatives in 2025, including new share repurchase programs and dividend hikes [6][8]