Shares of Kirby Corporation (NYSE: KEX) surged 5.07% in intraday trading on Friday, following the company's release of better-than-expected first quarter 2025 earnings and an optimistic outlook for the remainder of the year.

The Houston-based marine transportation and diesel engine services provider reported earnings per share of $1.33 for Q1 2025, up from $1.19 in the same period last year. This exceeded analyst expectations and demonstrated the company's ability to navigate challenging market conditions. Kirby's marine transportation segment showed resilience, with inland barge utilization rates in the low to mid-90% range and favorable pricing trends despite weather-related delays.

David Grzebinski, Kirby's Chief Executive Officer, expressed confidence in the company's outlook, stating, "We're off to a solid start in 2025 and have a favorable outlook for the remainder of the year. Our balance sheet is strong, and we expect to generate significant free cash flow despite high levels of CapEx this year." He also noted that the company anticipates positive market dynamics in inland marine transportation due to limited new barge construction and steady customer demand.

Investors were particularly encouraged by Kirby's reaffirmation of its full-year guidance, which projects inland marine transportation revenues to grow in the mid to high single-digit range. The company also expects coastal marine transportation revenues to increase in the high single to low double-digit range compared to 2024, with operating margins improving to the mid-teens range.