WKC
World Kinect Corporation23.67
-0.82-3.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A quantifies exits, unveils land model
Q&A detailed Universal Trip Support's $70M annual gross profit contribution and tank wagon sale's 1B-gallon volume shed for $100M capital return, with exits hitting volumes harder than profits to sharpen land focus on cardlock, retail, and natural gas. Management unveiled a hybrid C-store model—leasing sites to manage fuel while partnering on stores—for higher margins and better cash flow, already piloted successfully. Aviation competition lingers temporarily, countered by airport expansions amid mid-year contract renewals. Land seasonality fades post-exits. Exits crush volume, spare profits. Watch land margins nearing 30%.
Key Stats
Market Cap
1.32BP/E (TTM)
-Basic EPS (TTM)
-7.65Dividend Yield
0.03%Recent Filings
10-K
FY2025 10-K structure
World Kinect's 10-K for FY2025 ended December 31, 2025, contains no financial statements, quarterly results, or performance metrics. Filing details only cover structure and an amended executive severance policy effective January 1, 2026, with non-CIC/CIC factors for key roles. No revenue, EPS, margins, cash flows, or segment data disclosed. Liquidity and capital allocation not addressed. No annual guidance provided. Market value of non-affiliate equity hit $1.525 billion as of June 30, 2025. Shares outstanding: 51,278,990 as of February 13, 2026. Executive changes risk retention costs.
8-K
Q4 loss masks strategic shift
World Kinect posted Q4 GAAP net loss of $280M due to $247M Land segment impairments and $77M restructuring costs from exiting non-core businesses, yet adjusted EBITDA held at $75M. Aviation gross profit rose 8% to $130M post-Universal TSS acquisition; extended $2B credit facility to 2030. Land repositioning nears completion. Guides 2026 adjusted EPS $2.20-$2.40.
8-K
CAO pay hike, severance update
World Kinect boosted Chief Accounting Officer Michael Kroll's salary to $390,000 annually and granted a $50,000 performance-based RSU tied to three-year adjusted EPS goals through 2027. The board also approved an Amended Executive Severance Policy effective January 1, 2026, covering key executives like Ira M. Birns with cash severance, prorated bonuses, and COBRA benefits scaled by individual factors. Executives get enhanced payouts post-change of control. Retention tightened.
8-K
Extends $2B facility to 2030
World Kinect amended its $2B credit facility on November 10, 2025, boosting revolving commitments from $1.5B to $1.65B while shrinking the term loan from $500M to $350M, keeping total capacity steady. Maturity extends to 2030 (with a one-year option), cuts pricing to SOFR plus 1.5-2.125% and commitment fees to 0.225-0.300%, and adds covenant flexibility. Lenders refinanced the old term loan using new proceeds and $93M cash. Default triggers acceleration.
8-K
Exec succession announced
World Kinect appointed Andrea B. Smith to its board effective October 24, 2025, expanding it to 11 directors. Ira Birns steps up as CEO January 1, 2026, succeeding Michael Kasbar who shifts to Executive Chairman; John Rau becomes President, Mike Tejada CFO post-10Q. Leadership refresh boosts internal expertise. Bylaws amended accordingly.
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