WORLD KINECT CORP reported first quarter of 2026 results: revenue $9,685 million, net income GAAP net income of $26 million, EPS $0.50 per diluted share. Guidance raised.
“World Kinect Corporation Reports First Quarter 2026 Results Strong First Quarter 2026 Results and Raises Fiscal Year 2026 Adjusted EPS Guidance MIAMI—April 23, 2026—World Kinect Corporation (NYSE: WKC) today reported financial results for the first quarter of 2026. First Quarter 2026 Highlights • Gross profit of $271 million • Adjusted gross profit of $254 million • GAAP net income of $26 million, or $0.50 per diluted share • Adjusted net income of $39 million, or $0.75 per diluted share • Adjusted EBITDA of $94 million • Repurchased $75 million of common stock”
Debt Financings
WORLD KINECT CORP amended credit facility of $1.65 billion with Bank of America, N.A. at Term SOFR Loans and Alternative Currency Loans, and between 0.5% and 1.125% for maturing November 10, 2030.
“increase the aggregate revolving credit facility commitments from $1.50 billion to $1.65 billion; (ii) replace the existing term loan in the original principal amount of $500 million (the “Original Term Loan”) with a new term loan in the original principal amount of $350 million (the “New Term Loan”), thereby maintaining the total borrowing capacity under the credit facility at $2.0 billion; (iii) modify the pricing of the loans and related fees”
Governance Changes
WORLD KINECT CORP: Increased number of authorized directors by two to allow appointment of two new directors (effective 2025-10-22).
“On October 22, 2025, the Board approved an amendment and restatement of the Company’s By-Laws to (as so amended, the “Amended and Restated Bylaws”), increasing the number of authorized directors by two in order to allow for the appointment of Ms. Smith and, in January, Mr. Birns.”
John P. Rau was appointed as Chief Operating Officer at WORLD KINECT CORP.
“appointed John P. Rau, the Company’s then current Executive Vice President, Global Aviation, Land and Marine, as Chief Operating Officer”
Ira M. Birns was appointed as President and Chief Financial Officer at WORLD KINECT CORP.
“appointed Ira M. Birns, the Company’s then current Executive Vice President and Chief Financial Officer, as President and Chief Financial Officer”
Michael J. Kasbar changed role as Chairman and Chief Executive Officer at WORLD KINECT CORP.
“Effective April 25, 2025, Mr. Kasbar no longer holds the title of President at the Company.”
John P. Rau was appointed as Chief Operating Officer at WORLD KINECT CORP.
“Effective April 25, 2025, the Board appointed John P. Rau, the Company’s current Executive Vice President, Global Aviation, Land and Marine, as Chief Operating Officer.”
Ira M. Birns was appointed as President and Chief Financial Officer at WORLD KINECT CORP.
“Effective April 25, 2025, the Board of Directors (the “Board”) of World Kinect Corporation (the “Company”) appointed Ira M. Birns, the Company’s current Executive Vice President and Chief Financial Officer, as President and Chief Financial Officer.”
Jeffrey M. Kottkamp was appointed as director at WORLD KINECT CORP.
“On April 23, 2025, the Board of Directors (the “Board”) of World Kinect Corporation (the “Company”) appointed Jeffrey M. Kottkamp as a director of the Company.”
Earnings Releases
WORLD KINECT CORP reported the first quarter of 2024 results: revenue $ 10,951, net income $ 27, EPS $ 0.45.
“last year are as follows (unaudited - in millions, except percentages and per share data): Three Months Ended March 31, 2024 2023 Change Volume (1) 4,414 4,472 (1)% Revenue $ 10,951 $ 12,482 (12)% Gross profit $ 254 $ 263 (3)% Operating expenses $ 191 $ 198 (4)% Adjusted operating expenses $ 190 $ 198 (4)% Income (loss) from operations $ 63 $ 65 (2)%”
Earnings Releases
WORLD KINECT CORP reported quarter and year ended December 31, 2023 results: revenue $12,003, net income $(0.58) per diluted share, EPS $(0.58) per diluted share.
WORLD KINECT CORP reported financial results for the third quarter of 2023.
“On October 26, 2023, World Kinect Corporation issued a press release reporting its financial results for the third quarter of 2023. A copy of the press release is attached hereto as Exhibit 99.1.”
Earnings Releases
WORLD KINECT CORP reported six months ended June 30, 2023 results: revenue $23,462, net income $52.7 million, EPS $0.84.
“data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 Change 2023 2022 Change Volume (1) 4,465 4,651 (4)% 8,937 9,127 (2)% Revenue $ 10,981 $ 17,122 (36)% $ 23,462 $ 29,504 (20)% Gross profit $ 282 $ 253 11% $ 544 $ 484 12% Income from operations $ 76 $ 53 43% $ 140 $ 94 49% Income from operations as a percentage of gross profit 27% 21% 26%”
Earnings Releases
WORLD KINECT CORP reported second quarter of 2023 results: revenue $10,981, net income $30 million, EPS $0.48.
“percentages and per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 Change 2023 2022 Change Volume (1) 4,465 4,651 (4)% 8,937 9,127 (2)% Revenue $ 10,981 $ 17,122 (36)% $ 23,462 $ 29,504 (20)% Gross profit $ 282 $ 253 11% $ 544 $ 484 12% Income from operations $ 76 $ 53 43% $ 140 $ 94 49% Income from operations as a percentage of”
Debt Financings
WORLD KINECT CORP incurred convertible notes of $300 million aggregate principal amount with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers at 3.250% maturing July 1, 2028.
“Inc., as representatives of the several initial purchasers named on Schedule I thereto (the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $300 million aggregate principal amount of its 3.250% Convertible Senior Notes due 2028 (the “Initial Notes”). In addition, the Company granted the Initial Purchasers an option to purchase up”
Material Agreements
WORLD KINECT CORP entered into Indenture with U.S. Bank Trust Company, National Association (effective 2023-06-26).
“On June 26, 2023, the Company entered into an indenture (the “Indenture”) governing the terms of the Notes, between the Company and U.S. Bank Trust Company, National Association, as trustee”
Material Agreements
WORLD KINECT CORP entered into Purchase Agreement with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers valued at $300 million aggregate principal amount (effective 2023-06-21).
“On June 21, 2023, World Kinect Corporation (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several initial purchasers named on Schedule I thereto (the “Initial Purchasers”), pursuant to which the Company agreed to issue and sell $300 million aggregate principal amount of its 3.250% Convertible Senior Notes due 2028”
Governance Changes
WORLD KINECT CORP: Company amended Articles of Incorporation to change name to World Kinect Corporation, effective June 15, 2023 (effective 2023-06-15).
“At the 2023 Annual Meeting, the Company’s shareholders voted in favor of an amendment to the Company’s Articles of Incorporation, as amended (the "Name Change Amendment") changing the Company’s name to World Kinect Corporation (the "Name Change"). The Name Change Amendment was filed with the Secretary of State of the State of Florida, and was effective on June 15, 2023.”
Shareholder Votes
WORLD KINECT CORP shareholders approved Ratification of Appointment of Independent Registered Certified Public Accounting Firm (PricewaterhouseCoopers LLP).
“Proposal 5—Ratification of Appointment of Independent Registered Certified Public Accounting Firm The shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year. Votes For Votes Against Abstentions 55,869,258 1,686,348 50,257”
Shareholder Votes
WORLD KINECT CORP shareholders approved Non-Binding, Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation.
“Proposal 4: Non-Binding, Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation The shareholders voted in favor of a frequency of every one year for future advisory votes to approve the compensation of the Company’s named executive officers. One Year Two Years Three Years Abstentions 49,035,142 14,344 5,740,903 64,447”
Shareholder Votes
WORLD KINECT CORP shareholders approved Non-Binding, Advisory Vote on Executive Compensation.
“Proposal 3: Non-Binding, Advisory Vote on Executive Compensation The shareholders approved, by a non-binding, advisory vote, the compensation of the Company’s named executive officers. Votes For Votes Against Abstentions Broker Non-Votes 27,044,346 26,945,124 865,366 2,751,027”
Shareholder Votes
WORLD KINECT CORP shareholders approved Election of Directors.
“Proposal 2: Election of Directors The shareholders elected each of the Company’s nominees for director for a term expiring on the date of the 2024 Annual Meeting of Shareholders or until their successors are duly elected and qualified. Nominee Votes For Votes Withheld Broker Non-Votes Michael J. Kasbar 51,765,076 3,089,760 2,751,027 Ken Bakshi 44,959,688 9,895,148 2,751,027 Jorge L. Benitez 52,776,729 2,078,107 2,751,027 Sharda Cherwoo 53,731,511 1,123,325 2,751,027 Richard A. Kassar 33,336,373 21,518,463 2,751,027 John L. Manley 52,469,455 2,385,381 2,751,027 Stephen K. Roddenberry 34,394,619 20,460,217 2,751,027 Jill B. Smart 52,041,068 2,813,768 2,751,027 Paul H. Stebbins 52,601,620 2,253,216 2,751,027”
Shareholder Votes
WORLD KINECT CORP shareholders approved Amendment to the Company’s Articles of Incorporation (Name Change Amendment).
“Proposal 1: Amendment to the Company’s Articles of Incorporation As described above, the shareholders approved the Name Change Amendment. Votes For Votes Against Abstentions 57,416,326 170,888 18,649”
Earnings Releases
WORLD KINECT CORP reported financial results for the first quarter of 2023.
“On April 27, 2023, World Fuel Services Corporation issued a press release reporting its financial results for the first quarter of 2023.”
Earnings Releases
WORLD KINECT CORP reported fourth quarter and full year ended December 31, 2022 results: revenue $13,877.7 million (quarter), $59,043.1 million (year), net income $20.9 million (quarter), $114.1 million (year), EPS $0.33 (quarter dil), $1.82 (year dil), $0.54 (quarter adj), $2.04 (year adj).
“opportunities, while also continuing to return capital to shareholders through share buybacks and dividends.” 1 Fourth Quarter 2022 Compared to 2021 Highlights • Revenue of $13.9 billion, an increase of 40% year-over-year • Gross profit of $282.4 million, an increase of 31% year-over-year • Net income of $20.9 million, an increase of 36% year-over-year • Adjusted”
Earnings Releases
WORLD KINECT CORP reported the full year ended December 31, 2022 results: revenue $59.0 billion, net income $114.1 million, EPS $1.82.
“Full Year 2022 Compared to 2021 Highlights • Revenue of $59.0 billion, an increase of 88% year-over-year • Gross profit of $1.1 billion, an increase of 38% year-over-year • Net income of $114.1 million, an increase of 55% year-over-year • Adjusted EBITDA of $380.3 million, an increase of 60% year-over-year”
Earnings Releases
WORLD KINECT CORP reported the fourth quarter ended December 31, 2022 results: revenue $13.9 billion, net income $20.9 million, EPS $0.33.
“Fourth Quarter 2022 Compared to 2021 Highlights • Revenue of $13.9 billion, an increase of 40% year-over-year • Gross profit of $282.4 million, an increase of 31% year-over-year • Net income of $20.9 million, an increase of 36% year-over-year • Adjusted EBITDA of $106.5 million, an increase of 93% year-over-year”
Earnings Releases
WORLD KINECT CORP reported third quarter of 2022 results: net income $42.5 million, EPS $0.68 per diluted share.
“World Fuel Services Corporation Reports Third Quarter 2022 Results”
Jill B. Smart was elected as Director at WORLD KINECT CORP.
“Effective September 2, 2021, the Board of Directors (the “Board”) of World Fuel Services Corporation (the “Company”) elected Jill B. Smart as a director of the Company.”
Jose-Miguel Tejada changed role as Senior Vice President and Chief Accounting Officer at WORLD KINECT CORP.
“Effective August 1, 2021, World Fuel Services Corporation (the “Company”) promoted Jose-Miguel Tejada to the position of Senior Vice President and Chief Accounting Officer.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.