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WKC 8-K filings, explained
Every material Form 8-K World Kinect has filed with the SEC since February 20, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
World Kinect reported third quarter 2026 results on October 29, 2026, with revenue of $13.27 billion, up 41% from a year earlier, and GAAP diluted EPS of $0.70 versus $0.46. The company raised its full-year 2026 Adjusted EPS guidance to $3.52 to $3.62 per share from $3.20 to $3.40, which signals higher expected per-share earnings for shareholders.
Q3 2026 revenue was $13.27 billion, up 41% year over year, while volume fell 6% to 4.04 million units.
Q3 GAAP net income was $38 million, or $0.70 per diluted share, versus $0.46 a year earlier; Adjusted EPS was $0.99 versus $0.54.
Full-year 2026 Adjusted EPS guidance rose to $3.52 to $3.62 per share, from $3.20 to $3.40.
Q3 free cash flow was $164 million, and operating cash flow was $175 million.
World Kinect said Michael J. Kasbar will step down as Executive Chairman effective December 31, 2026, and will remain a member of the Board. Director Ken Bakshi, who has served on the Board since 2002, was appointed independent Chair effective the same date. The company says the Board believes an independent chair strengthens its oversight, and the filing states the departure was not due to any disagreement with the company.
Kasbar steps down as Executive Chairman effective December 31, 2026, and continues as a Board member.
Ken Bakshi, on the Board since 2002, is appointed independent Chair effective December 31, 2026.
Kasbar's employment agreement expired December 31, 2025; severance payments and benefits became payable but were not paid while he remained employed, subject to restrictive covenants for two years after he leaves the Executive Chairman role
The filing states the step-down was not the result of any disagreement with the company on operations, practices or policies.
World Kinect reported second quarter 2026 revenue of $13.6 billion, up 50% from $9.0 billion a year earlier, and GAAP net income attributable to the company of $48 million, or $0.94 per diluted share, compared with a loss of $6.06 per share in the prior-year quarter. The company raised its full-year 2026 adjusted EPS guidance to $3.20 to $3.40 per share from $2.65 to $2.85, and increased its regular quarterly dividend by 15%, which the company linked to favorable market volatility and its streamlined portfolio.
Q2 2026 revenue was $13.6 billion, up 50% from $9.0 billion; gross profit was $365 million, up 57%
GAAP diluted EPS was $0.94 versus a loss of $6.06 in Q2 2025; adjusted EPS was $1.29 versus $0.59
Full-year 2026 adjusted EPS guidance raised to $3.20-$3.40, an increase of about 20% from the prior midpoint
Regular quarterly dividend increased 15%; the company repurchased $14 million of common stock in the quarter
World Kinect reported first quarter 2026 revenue of $9.69 billion, up 2% from a year earlier, and GAAP net income of $26 million, or $0.50 per diluted share, compared with a loss of $0.37 per share in the first quarter of 2025. The company raised its full-year 2026 adjusted diluted EPS guidance to $2.65 to $2.85 per share from $2.20 to $2.40, and said Marine gross profit growth offset a 16% decline in Land gross profit. The company also said it is realigning its brand to World Fuel effective immediately, while keeping World Kinect as its legal name and ticker WKC.
Revenue was $9.69 billion, up 2% from $9.45 billion; GAAP diluted EPS was $0.50 versus a loss of $0.37 a year earlier.
Adjusted diluted EPS was $0.75, up 56% from $0.48 in the first quarter of 2025.
2026 adjusted diluted EPS guidance was raised to $2.65 to $2.85 from $2.20 to $2.40.
Marine gross profit rose 86% to $66 million, while Land gross profit fell 16% to $67 million, principally due to the U.K. Land sale.
World Kinect reported a fourth-quarter 2025 GAAP net loss of $280 million, or $5.11 per diluted share, after $247 million of impairments and $77 million of restructuring and exit costs, with revenue down 7% from a year earlier. For the full year, GAAP net loss was $614 million, or $10.99 per share, and adjusted EPS fell 12% to $1.91, while the company guided to 2026 adjusted EPS of $2.20 to $2.40.
Q4 2025 revenue was $9.03 billion, down 7%, and adjusted diluted EPS was $0.30 versus $0.62 a year earlier.
Full-year 2025 revenue was $36.92 billion, down 12%, and adjusted diluted EPS was $1.91 versus $2.18.
Q4 included $247 million of non-cash impairments, of which $169 million was goodwill, mainly in the Land segment.
For full-year 2026, the company expects adjusted diluted EPS in the range of $2.20 to $2.40.
World Kinect disclosed compensation terms for Michael Kroll, promoted to Senior Vice President and Chief Accounting Officer effective November 1, 2025, and amended its executive severance policy effective January 1, 2026. The changes set Kroll's pay and define severance benefits for designated executives, which matters to shareholders as a routine governance and compensation update with no financial results reported.
Kroll's salary raised to $390,000 per year on December 3, 2025, with a $50,000 performance-based RSU grant
2026 target bonus of 60% of base salary and a $150,000 long-term incentive opportunity
Amended Severance Policy effective January 1, 2026; Ira M. Birns, John Rau and Jose-Miguel (Mike) Tejada designated as participants
World Kinect amended its credit agreement on November 10, 2025, raising the revolving commitments from $1.50 billion to $1.65 billion and extending maturity from April 1, 2027 to November 10, 2030. The total borrowing capacity stays at $2.0 billion, and pricing and commitment fees were lowered, which the filing describes as improved terms and greater operating flexibility for shareholders to weigh alongside the company's other obligations.
Revolving commitments increased from $1.50 billion to $1.65 billion; new term loan of $350 million replaces the $500 million Original Term Loan
Maturity extended from April 1, 2027 to November 10, 2030, with a one-time one-year extension option
Commitment fees lowered to a range of 0.225% to 0.300%, from 0.225% to 0.375%, depending on leverage ratio
Approximately $93 million of cash on hand was used together with the new term loan to repay the Original Term Loan and pay fees
World Kinect said its board named Ira M. Birns, the current President and Chief Financial Officer, as chief executive effective January 1, 2026, and Michael J. Kasbar will step down as CEO on December 31, 2025 to become Executive Chairman. The company also named Jose-Miguel (Mike) Tejada as chief financial officer effective October 24, 2025, appointed Andrea B. Smith to the board, and amended its bylaws to add two authorized director seats. The filing describes a leadership transition and does not report financial results.
Ira M. Birns becomes CEO and a board member effective January 1, 2026, with salary set at $900,000 per year.
Michael J. Kasbar steps down as CEO on December 31, 2025 and becomes Executive Chairman, with salary of $850,000 per year.
Jose-Miguel (Mike) Tejada named Executive Vice President and CFO effective October 24, 2025; Andrea B. Smith joined the board effective October 24, 2025.
Board amended the bylaws to increase authorized directors by two; John Rau becomes President effective January 1, 2026.
World Kinect reported third-quarter 2025 revenue of $9.39 billion, down 10% from a year earlier, and GAAP diluted EPS of $0.46 versus $0.57, with adjusted EPS of $0.54 versus $0.62. Nine-month results were a GAAP net loss of $334.7 million, driven by $443.1 million of goodwill and asset impairments, and the company stated that Chairman and CEO Michael Kasbar will soon step back from day-to-day operations.
Q3 2025 revenue $9.39 billion, down 10%; gross profit $250 million, down 7%
GAAP net income $26 million ($0.46 per diluted share) vs. $0.57 a year earlier; adjusted EPS $0.54 vs. $0.62
Nine months ended September 30, 2025: GAAP net loss attributable to World Kinect of $334.7 million, including $443.1 million of goodwill and other asset impairments
Land gross profit fell 20% to $81 million; Aviation gross profit rose 11% to $143 million
World Kinect reported a GAAP net loss attributable to the company of $339 million, or $6.06 per diluted share, for the second quarter of 2025, compared with net income of $108 million, or $1.81 per share, a year earlier. The loss reflects $367 million of non-cash Land segment intangible asset impairments, including $359 million of goodwill, and an $82 million pre-tax loss on the sale of its U.K. land fuels business, while revenue fell 18% to $9.04 billion and adjusted diluted EPS rose 23% to $0.59.
Revenue was $9.04 billion, down 18% from $10.97 billion a year earlier; gross profit was $232 million, down 5%.
GAAP net loss attributable to World Kinect was $339 million, or $6.06 per diluted share, versus net income of $108 million, or $1.81 per share, in the second quarter of 2024.
Adjusted diluted EPS was $0.59, up 23% from $0.48; the company repurchased $35 million of common stock in the quarter.
The Land segment recorded $367 million of intangible asset impairments, and the U.K. land fuels business sale was completed on April 9, 2025.
World Kinect's Board of Directors appointed Gregory F. Piper as a director effective July 17, 2025, and he will serve on the Compensation Committee. Piper, who has more than 35 years of energy, commodity and agriculture experience, will receive standard non-employee director pay, including restricted stock units tied to a $175,000 annual equity grant.
Gregory F. Piper appointed director effective July 17, 2025, and will serve on the Compensation Committee
Director equity grant is a pro-rated portion of a $175,000 annual amount in restricted stock units
Piper previously served as CEO of CP Energy from 2014 to 2020 and as CEO of Gavilon Energy
Company entered into a director indemnification agreement with Piper
At its June 5, 2025 annual meeting, World Kinect shareholders approved the 2025 Omnibus Plan, which authorizes 1,850,000 shares of common stock for equity and cash awards and succeeds the 2021 Plan. All nine director nominees were elected, and shareholders ratified PricewaterhouseCoopers LLP as the independent auditor for 2025. The filing matters to shareholders because it sets the share pool for future employee and director compensation, and it caps non-employee director pay at $850,000 per calendar year.
Shareholders approved the Plan on June 5, 2025, with 46,967,579 votes for and 3,023,149 against.
The Plan authorizes 1,850,000 shares, plus unused shares from prior World Fuel Services plans.
Richard A. Kassar received 31,642,647 votes for and 18,414,185 withheld, the lowest support of the nine nominees.
Shareholders ratified PricewaterhouseCoopers LLP for fiscal 2025 with 50,438,171 votes for.
World Kinect's board effective April 25, 2025 appointed CFO Ira M. Birns as President while keeping him as CFO, and named EVP John P. Rau as Chief Operating Officer. Both report to Chairman and CEO Michael J. Kasbar, who no longer holds the President title. The changes reshape senior management roles but the filing reports no change in financial results.
Ira M. Birns, age 62, appointed President and continues as Chief Financial Officer; CFO since 2007
John P. Rau, age 62, appointed Chief Operating Officer; EVP of Global Aviation, Land and Marine
Michael J. Kasbar no longer holds the title of President, effective April 25, 2025
Changes disclosed in a press release dated April 25, 2025, filed as Exhibit 99.1
World Kinect's board appointed Jeffrey M. Kottkamp as a director on April 23, 2025. He is expected to join the Audit Committee after the 2025 annual shareholder meeting, and the filing says he brings audit and accounting experience from 40 years at Deloitte.
Appointed to the Board on April 23, 2025; expected to join the Audit Committee after the 2025 annual shareholder meeting
Spent 40 years at Deloitte & Touche USA LLP, retiring in 2023 after nearly 30 years as a partner
Receives standard non-employee director pay, including 862 restricted stock units that vest the day before the 2025 annual meeting
Company entered into a director indemnification agreement with him (Exhibit 99.2)
World Kinect reported a first-quarter 2025 GAAP net loss of $21 million, or $0.37 per diluted share, compared with net income of $27 million, or $0.45 per share, a year earlier. Revenue fell 14% to $9.45 billion and gross profit fell 9% to $230 million, while adjusted diluted earnings per share rose to $0.48 from $0.47. The loss includes a $44.5 million asset impairment and $15.0 million of restructuring charges, and the company expects an additional estimated pre-tax loss of $65 million from the April 9, 2025 sale of its U.K. land fuels business.
GAAP net loss of $21 million, or $0.37 per diluted share, versus net income of $27 million, or $0.45 per diluted share, in the first quarter of 2024
Revenue of $9.45 billion, down 14%; gross profit of $230 million, down 9%
Adjusted diluted EPS of $0.48, up from $0.47; Land segment gross profit fell 19% to $79 million
U.K. land fuels business sale completed April 9, 2025, with an additional estimated pre-tax loss of $65 million expected in the second quarter of 2025
World Kinect reported a fourth-quarter 2024 GAAP net loss of $102 million, or $1.77 per diluted share, after a one-time non-cash pre-tax loss of approximately $111 million on the sale of its Brazil subsidiaries. Adjusted diluted EPS rose 15% to $0.62, but revenue fell 19% to $9.76 billion in the quarter and 12% to $42.17 billion for the full year, while full-year GAAP net income was $67 million, or $1.13 per diluted share.
Q4 2024 revenue was $9.76 billion, down 19% from $12.00 billion a year earlier.
Q4 2024 GAAP net loss was $102 million, or $1.77 per diluted share, compared with a loss of $0.58 per share in Q4 2023.
Q4 2024 adjusted diluted EPS was $0.62, up 15% from $0.54.
Full-year 2024 GAAP net income was $67 million, or $1.13 per diluted share; adjusted diluted EPS was $2.18, up 12%.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every World Kinect filing is on SEC EDGAR ↗. 8-K briefs of other companies →