Kirby Corporation's Board of Directors approved a new share repurchase authorization for up to eight million additional shares of the Company's common stock.
The share repurchase reflects confidence in Kirby's commercial and operational execution, aiming for consistent and sustainable free cash flow generation.
This authorization complements the Company's capital allocation priorities, including pursuing inland marine acquisitions, investing in new growth areas, and returning capital to shareholders.
Share Repurchase Authorization
Kirby Corporation's Board authorized the repurchase of up to 8 million additional shares of common stock.
Capital Allocation Priorities
The Company focuses on inland marine acquisitions, investments in new growth areas like power generation, and returning capital to shareholders.
CEO Statement
CEO David Grzebinski highlighted the company's confidence in generating strong free cash flow and commitment to the long-term capital allocation strategy.
- The additional share repurchase authorization signals management's confidence in Kirby's future earnings potential and cash flow generation.
- Kirby's ability to repurchase shares from the open market or through other means provides flexibility in capital allocation decisions.
Kirby Corporation's approval for share repurchase showcases its commitment to enhancing shareholder value and confidence in the company's performance and cash flow generation.