World Kinect Corporation reported a difficult 2025 as it undertook a major portfolio restructuring, especially in its Land segment. Full-year gross profit was $948 million, but large non-cash goodwill and asset impairments and restructuring and exit costs drove a GAAP net loss of $614 million, or $10.99 per diluted share.
On an adjusted basis, the company generated 2025 net income of $107 million, or $1.91 per diluted share, and Adjusted EBITDA of $336 million. It also produced operating cash flow of $293 million and free cash flow of $227 million, and repurchased $85 million of common stock.
Segment performance was mixed: Aviation gross profit rose to $526 million helped by the Universal TSS acquisition, while Land gross profit fell to $298 million and Marine to $123 million. For 2026, management guides to Adjusted diluted EPS of $2.20–$2.40, citing benefits from the completed Land repositioning, continued strength in Aviation, and disciplined costs.
Brandes Investment Partners, L.P., a Delaware-based investment adviser, filed an amended Schedule 13G reporting its beneficial ownership in World Kinect CorpDecember 31, 2025, Brandes reported beneficial ownership of 3,696,016 common shares, representing 6.65% of the class.
Brandes reported no sole voting or dispositive power, with shared voting power over 2,434,570 shares and shared dispositive power over 3,696,016 shares. The firm certified that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of World Kinect Corp.
World Kinect Corporation reported changes to executive compensation and its severance framework. The Board previously promoted Michael Kroll to Senior Vice President and Chief Accounting Officer effective November 1, 2025. On December 3, 2025, the Compensation Committee increased his annual base salary to $390,000 and approved a performance-based restricted stock unit award with a grant date fair value of $50,000. The award depends on achieving a pre-determined average adjusted earnings per share goal over a three-year period ending December 31, 2027 and his continued employment through December 3, 2028, and is subject to the company’s Clawback Policy.
For 2026, Mr. Kroll will have a target annual bonus equal to 60% of base salary and a target long-term incentive opportunity of $150,000. The Compensation Committee also approved an amended and restated Executive Severance Policy effective January 1, 2026, outlining severance, bonus, and COBRA-related benefits for designated executives upon death, disability, termination without cause, or resignation for good reason, with enhanced cash severance formulas if a qualifying termination occurs within two years after a change of control. Ira M. Birns, John Rau, and Jose-Miguel (Mike) Tejada were designated as participants under the amended policy.
World Kinect Corporation amended its credit facility to adjust size, pricing, and tenor. The amendment increases the aggregate revolving credit commitments from $1.50 billion to $1.65 billion and replaces the existing $500 million term loan with a new $350 million term loan, maintaining total borrowing capacity at $2.0 billion.
The loans’ pricing was modified: Term SOFR and Alternative Currency Loans carry a margin of 1.5%–2.125%, and Base Rate Loans carry 0.5%–1.125%, in each case based on a defined consolidated total leverage ratio. Commitment fees were lowered to a 0.225%–0.300% range. Maturity was extended from April 1, 2027 to November 10, 2030, with a one-time one-year extension option subject to specified conditions.
Proceeds from the New Term Loan, plus approximately $93 million of cash on hand, were used to repay all amounts outstanding under the Original Term Loan and to pay related fees and expenses. The facility includes customary events of default.
World Kinect Corp (WKC) insider filed a Form 4 reporting routine equity award activity. On November 10, 2025, 833 and 802 restricted stock units vested and settled. To cover associated taxes, the issuer withheld 203 and 196 shares, respectively, at a price equal to the NYSE closing price of $25.58 on that date.
The reporting person, an officer (SVP & Chief Accounting Officer), reported 12,490 shares beneficially owned following the transactions. These entries reflect tax withholding and not open‑market sales.
World Kinect Corp (WKC) reported insider activity by its EVP and Chief Financial Officer related to restricted stock unit vesting. On November 10, 2025, the company withheld 435 shares and 462 shares of common stock (transaction code F) to cover taxes arising from RSUs that vested and settled the same day. The withholding price used was $25.58, the NYSE closing price on that date. Following these transactions, the officer directly beneficially owned 34,831 shares.
Brandes Investment Partners, L.P. filed a Schedule 13G disclosing beneficial ownership of 2,938,674.70 World Kinect Corp (WKC) common shares, representing 5.29% of the class as of 09/30/2025.
The filer reports 0 sole voting and dispositive power, with 2,181,391.20 shares under shared voting power and 2,938,674.70 shares under shared dispositive power. The reporting person is identified as an investment adviser and partnership (IA, PN). The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
World Kinect Corp (WKC) filed a Form 3 disclosing initial beneficial ownership by a senior officer. The reporting person serves as SVP & Chief Accounting Officer. As of the event date 11/01/2025, the filing reports ownership of 12,889 shares of common stock, held directly.
The Form 3 was signed by /s/ Joel M. Williams, Attorney-in-Fact on 11/05/2025.
World Kinect Corporation announced a planned leadership transition and board expansion. The Board appointed Andrea B. Smith as director effective Oct 24, 2025, increasing the Board from 10 to 11, with service on the Compensation and Governance Committees. The by‑laws were amended to increase authorized directors to enable these appointments. Ms. Smith will receive standard non‑employee director compensation, including RSUs pro‑rated from a $185,000 annual equity grant that vest before the 2026 annual meeting or one year from grant.
Effective Jan 1, 2026, Ira M. Birns will become Chief Executive Officer and join the Board; Michael J. Kasbar will become Executive Chairman. John Rau will become President on the same date. Jose‑Miguel (Mike) Tejada was appointed EVP and Chief Financial Officer effective Oct 24, 2025 (after the Q3 10‑Q filing) and will serve as principal accounting officer until Nov 1, 2025, when Michael Kroll becomes Chief Accounting Officer. Disclosed compensation includes: CEO base salary $900,000 (Birns), Executive Chairman $850,000 (Kasbar), President $800,000 (Rau), CFO $575,000 (Tejada) plus a $300,000 performance‑based RSU tied to average adjusted EPS through Dec 31, 2027.
World Kinect Corp (WKC) reported an insider equity award. A director acquired 4,259 shares of common stock on 10/24/2025 at $0.00, issued as a restricted stock unit (RSU) grant. Following the transaction, the director beneficially owns 4,259 shares directly.
The RSUs vest on the earlier of the day prior to the next annual shareholder meeting or the one-year anniversary of the grant date.