World Kinect Corporation
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Range $30 – $30
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About the company
World Kinect Corporation, together with its subsidiaries, operates as an energy management company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in three segments: Aviation, Land, and Marine. The Aviation segment supplies jet fuel, sustainable aviation fuel, aviation gasoline, and aviation fuel to commercial and international airlines, regional airlines, cargo carriers, airports, fixed-based operators, corporate fleets, charter and fractional operators, the U.
- CEO
- Ira Birns
- IPO
- 1986
- Employees
- 4,003
- HQ
- Miami, FL, US
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Similar companies
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- Market Cap
- $1.88B
- P/E
- -11.49
- Fwd P/E
- 10.21
- PEG
- -0.34
- P/S
- 0.04
- P/B
- 1.51
- EV/EBITDA
- 79.07
- Div Yield
- 2.26%
- Gross Margin
- 1.95%
- Op Margin
- 0.79%
- Net Margin
- -0.42%
- ROE
- -13.21%
- ROIC
- 12.59%
Latest fiscal year · YoY change
- Revenue
- $36.93B-12.7%
- Gross Profit
- $534.60M-25.2%
- Op Income
- $254.00M
- Net Income
- $-614,000,000-1011.0%
- EPS
- $-11.03-1067.5%
- OCF Growth
- +12.7%
- FCF Growth
- +18.6%
- 52W High
- $41.20
- 52W Low
- $22.21
- 50D MA
- $35.25
- 200D MA
- $27.86
- Beta
- 1.20
- RSI (14)
- 51
- Avg Volume
- 1.15M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
World Kinect posted a record second quarter on strong Aviation and Marine execution, lifted full-year EPS guidance, and said the business is becoming more focused and profitable.· July 23, 2026
- Adjusted EPS was $1.29, the highest quarterly adjusted EPS in company history.
- Consolidated gross profit rose 50% year over year to $350 million, an all-time quarterly record.
- Aviation gross profit increased 51% to $208 million and Marine gross profit nearly tripled to $80 million, both segment records.
- Land improved sharply, with operating income rising to $20 million from $1 million a year ago as the portfolio simplification neared completion.
- Full-year 2026 adjusted EPS guidance was raised to $3.20-$3.40 from $2.65-$2.85, but management said the second half should be more measured than the record first half.
Second quarter adjusted EPS was $1.29, up from the prior year period, and consolidated gross profit increased 50% year over year to $350 million, a company record. Aviation gross profit rose 51% to $208 million on volume of 1.8 billion gallons, down 5% year over year; Marine gross profit increased to $80 million, nearly three times the prior year, on volume of 3.5 million metric tons, down 10%; and Land gross profit was $62 million, down 8%, with operating income of $20 million versus $1 million a year ago. Consolidated operating expenses were $233 million, net interest expense was $31 million, operating cash flow was a use of about $21 million, and free cash flow was a use of about $35 million. Management raised full-year 2026 adjusted EPS guidance to $3.20-$3.40 from $2.65-$2.85, citing the strong first half, but said second-half performance should be more measured than the record first half. They also said Land is on track to deliver approximately twice the operating income generated in 2025, and that third-quarter Aviation and Marine gross profit should be up year over year but down sequentially from Q2.
Ira Birns framed the quarter as proof that the company’s multi-year effort to simplify the portfolio and strengthen core businesses is working. He emphasized that Aviation and Marine benefited from favorable conditions and that the teams converted those opportunities through disciplined execution, while Land’s progress reflected a more focused and higher-return portfolio. His tone was confident but cautious: he repeatedly said this was an exceptional quarter, not a normal run rate, and that the company is not assuming the market conditions will repeat.
Mike Tejada highlighted the hard numbers and said the quarter was exceptionally strong, with gross profit up 50% to $350 million and adjusted EPS at $1.29. He noted Aviation gross profit of $208 million, Marine gross profit of $80 million, and Land operating income of $20 million, while also calling out $233 million of operating expenses, $31 million of net interest expense, and a 21% adjusted tax rate. On cash and capital allocation, he said operating cash flow was a use of about $21 million and free cash flow was a use of about $35 million because of working capital pressure from higher commodity prices and volatility, though the sale of tank wagon and lubricants businesses returned about $85 million of cash. He also said the board approved a 15% increase to the quarterly dividend and the company repurchased about $14 million of stock in the quarter, bringing year-to-date repurchases to about $89 million.
Analysts focused on whether elevated volatility in Aviation and Marine represented a new normal and why the company’s guidance still sounded conservative after two quarters of strong outperformance. Management said the recent market strength is difficult to forecast, that conditions changed materially over short periods, and that the guidance update reflects a measured view rather than an assumption that the extraordinary Q1 and Q2 environment will persist. Questions also centered on bad debt and working capital; management said the higher bad debt reserve included one specific customer that sought credit protection and that the broader portfolio remains sound, while working capital should improve but may not fully reverse given the trade-off between growth opportunities and capital usage. They also said Q3 OpEx should drop significantly from Q2 as one-time items normalize.
The bullish case from this call is that World Kinect is showing materially better execution across a simpler portfolio, with record gross profit in the quarter and strong profit conversion in Aviation, Marine, and Land. Management also raised full-year EPS guidance, said Land is on track to roughly double 2025 operating income, and pointed to a pipeline of opportunities that could create value in 2027 and beyond.
The main risk is that the quarter benefited from unusually favorable market conditions tied to Middle East volatility, which management repeatedly said may not repeat. Cash flow was negative in the quarter because higher prices and volatility tied up working capital, bad debt reserves rose, and management expects second-half results and margins to be more normalized than the record first half.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 96.2%
- Shares Outstanding
- 51.15M
- Float Shares
- 49.21M
of shares held by institutions
256 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 9.73M | ▲ 1.01M |
| Vanguard Group Inc | 6.71M | ▲ 62.11K |
| Brandes Investment Partners, LP | 4.40M | ▲ 109.46K |
| State Street Corp | 3.36M | ▼ 650.86K |
| Dimensional Fund Advisors LP | 2.93M | ▼ 309.58K |
| Vanguard Capital Management LLC | 2.23M | ▲ 4.67K |
| Lsv Asset Management | 1.97M | ▼ 3.12K |
| Invesco Ltd. | 1.94M | ▼ 363.17K |
| American Century Companies Inc | 1.64M | ▲ 231.12K |
| Aqr Capital Management LLC | 1.38M | ▲ 1.09M |
| Geode Capital Management, LLC | 1.31M | ▼ 31.13K |
| Sixth Street Partners Management Company, L.P. | 1.07M | ▲ 1.07M |
Held by 292 ETFs
Biggest fund positions in WKC by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 13, 26 | Tejada Jose-Miguel | sell | 6,000 |
| Aug 3, 26 | KASBAR MICHAEL J | sell | 10,000 |
| Jul 29, 26 | Manley John L | sell | 10,000 |
| Jul 29, 26 | STEBBINS PAUL H | sell | 33,445 |
| Jul 10, 26 | KASBAR MICHAEL J | sell | 25,000 |
| Jul 2, 26 | KASBAR MICHAEL J | sell | 10,000 |
| Jun 18, 26 | Manley John L | other | 7,231 |
| Jun 18, 26 | Benitez Jorge L. | other | 6,427 |
| Jun 18, 26 | Smith Andrea B | other | 6,427 |
| Jun 18, 26 | Cherwoo Sharda | other | 6,427 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our WKC coverage
Recent articles, reports, and earnings notes.
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Generate WKC report →California State Teachers Retirement System Buys 19,622 Shares of World Kinect Corporation $WKC
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World Kinect Corporation: The Earning Surge Is Real, But So Are The Risks (Earnings Review)
seekingalpha.com · Jul 28
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World Kinect Corporation (WKC) Q2 2026 Earnings Call Transcript
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World Kinect Q2 Earnings Call Highlights
marketbeat.com · Jul 23
World Kinect (WKC) Reports Q2 Earnings: What Key Metrics Have to Say
zacks.com · Jul 23
World Kinect (WKC) Beats Q2 Earnings and Revenue Estimates
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