World Kinect (WKC) Q4 2025 earnings summary

Executive summary

• Leadership transition completed with new CEO, CFO, and President, emphasizing accountability and long-term value creation, and entering 2026 with a strong foundation.

• Strategic focus sharpened on core businesses, with significant portfolio simplification, operational transformation, and completed repositioning of the Land segment.

• Acquisition of Universal Weather and Aviation's Trip Support Services completed in November 2025, expanding aviation capabilities.

• Exits from non-core European and North American businesses, including U.K. Land, Brazil, and certain North American operations, to concentrate on higher-margin, predictable-return segments.

• Amended and extended $2 billion senior unsecured credit facility to November 2030, enhancing liquidity and flexibility.

Financial highlights

• Q4 2025 gross profit was $235 million, down 9% year-over-year; full year gross profit was $948 million, down 7.7%.

• Q4 2025 net loss was $280 million ($5.11/share); full year net loss was $612 million ($10.99/share), driven by impairments and restructuring.

• Q4 adjusted net income was $17 million ($0.30/share); full year adjusted net income was $107 million ($1.91/share).

• Q4 adjusted EBITDA was $75 million; full year adjusted EBITDA was $336 million.

• Q4 operating cash flow was $34 million; full year operating cash flow was $293 million; free cash flow was $227 million.

Outlook and guidance

• 2026 adjusted diluted EPS guidance set at $2.20–$2.40, reflecting expected year-over-year growth, share repurchases, and full-year impact of Universal TSS acquisition.

• Q1 2026 consolidated gross profit and EPS expected to be down year-over-year and flat sequentially, mainly due to land segment exits.

• Adjusted operating income in land expected to nearly double in 2026, with operating margin approaching 30%.

• FY 2025 tax rate was 20%, in line with guidance.