World Kinect Corporation Reports First Quarter 2026 Results

About this update from World Kinect Corporation

[{"type":"text","content":" MIAMI--(BUSINESS WIRE)--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 Reportable Segment Year-Over-Year Highlights Aviation Segment First quarter 2026 gross profit was $138 million, an increase of 20%, primarily attributable to the contribution from our acquisition of Universal Weather and Aviation's Trip Support Services division in the fourth quarter of 2025 as well as increased contributions from our core resale business, principally in Europe, and government activity. Land Segment First quarter 2026 gross profit was $67 million, a decrease of 16%, principally due to the U.K. Land sale as well as unfavorable market conditions in our natural gas business, partially offset by higher contributions from our cardlock network and retail operations in North America. Excluding non-core divestitures and business exits, Adjusted gross profit is $49 million, a decrease of 38%. Marine Segment First quarter 2026 gross profit was $66 million, an increase of 86%, primarily driven by significantly higher bunker fuel prices, elevated price volatility, and strong execution supported by disciplined risk management in a dynamic market environment. \"We delivered a strong start to the year, reflecting the strength of our team and ability to execute in a volatile market environment,\" said Ira M. Birns, Chief Executive Officer. \"By simplifying the portfolio and sharpening our focus on the core, we're beginning to deliver clearer, more consistent results and improving returns on capital.\" \"Our results this quarter exceeded expectations, reflecting solid performance across our core businesses and our ability to capture incremental value in a more dynamic market environment,\" said Mike Tejada, Chief Financial Officer. \"We remained committed to our long-term strategy and disciplined execution balanced by a capital allocation strategy focused on returning capital to shareholders through share repurchases and dividends.\" 2026 Outlook For the full year 2026, the company is raising Adjusted diluted EPS guidanc...

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