Capital expenditures were $71 million in Q2, primarily maintenance-related; stock repurchases totaled $31.2 million at an average price of $94.
Cash on hand was $68 million with total debt around $1.12 billion; net debt-to-EBITDA was just under 1.4x.
Commercial and Industrial revenues rose 5% year-over-year with operating income up 24%.
Distribution and Services segment revenues were $363 million with operating income of $35 million and operating margin of 9.8%.
Inland Marine barge utilization was in the low to mid-90% range; Coastal Marine utilization was in the mid- to high 90% range.
Kirby Corporation reported second quarter earnings per share of $1.67, a 17% increase year-over-year from $1.43 in Q2 2024.
Marine Transportation segment revenues were $493 million with operating income of $99 million and an operating margin of 20.1%.
Net cash from operating activities was $94 million, impacted by a working capital build of approximately $83 million.
Oil and Gas revenues declined 27% year-over-year but operating income increased 182%, driven by growth in e-frac equipment and cost management.
Power Generation revenues increased 31% year-over-year, driven by data centers and industrial customers, with backlog growth of 15% to 20%.
Total Marine revenues increased 2% year-over-year and operating income increased 4%. Sequentially, Marine revenues increased 3% and operating income increased 14%.
Blue Point project cost is expected to be $3.7 billion, with CF's portion and common facilities totaling about $2 billion over the next 4 years.
CF Industries reported adjusted EBITDA of $1.4 billion for the first half of 2025 and $760 million for Q2 2025.
EBITDA and free cash flow expected to increase by over $100 million annually starting Q3 due to Donaldsonville CCS project tax incentives and product premiums.
Net earnings attributable to common stockholders were $698 million for the first half and $386 million for Q2 2025, with diluted EPS of $4.20 and $2.37 respectively.
Returned approximately $280 million to shareholders in Q2 2025, including $202 million for repurchasing 2.8 million shares.
Trailing 12-month net cash from operations was $2.5 billion and free cash flow was $1.7 billion, including a net benefit from the Blue Point joint venture.
Dafinchi