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World Kinect
(NYSE:WKC)
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Rating:55Neutral
Price Target:
$36.00
▲(1.55% Upside)
Action:Reiterated
Date:09/17/26
The score is held back primarily by weak financial performance (negative TTM earnings/EBITDA and deteriorated free cash flow), despite manageable leverage. The latest earnings call provided a meaningful offset with raised full-year adjusted EPS guidance and record gross profit, but management highlighted working-capital/cash flow strain and cautioned Q2 conditions may normalize. Technicals are neutral-to-mixed, and valuation is modestly supported by the dividend but clouded by the negative P/E.
Positive Factors
Raised earnings outlook
The higher full-year earnings outlook, following record quarterly gross profit and adjusted EPS, indicates stronger near-term earnings power and effective execution. If management sustains these improvements beyond favorable conditions, the guidance reset could support better operating performance over the next several quarters.
Negative Factors
Persistently weak profitability
Negative net income and EBITDA show that revenue growth has not yet translated into consistently positive operating economics. The very thin gross margin leaves limited room to absorb higher expenses, credit losses, or market volatility, making earnings durability dependent on sustained execution and margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Raised earnings outlook
The higher full-year earnings outlook, following record quarterly gross profit and adjusted EPS, indicates stronger near-term earnings power and effective execution. If management sustains these improvements beyond favorable conditions, the guidance reset could support better operating performance over the next several quarters.
Read all positive factors
World Kinect (WKC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.86B
Dividend Yield2.37%
Average Volume (3M)1.09M
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth7.56%
EPS Growth58.21%
CountryUS
Employees4,003
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-3.20
Shares Outstanding51,151,620
10 Day Avg. Volume797,015
30 Day Avg. Volume1,092,247
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.99
Price to Sales (P/S)0.03
P/FCF Ratio5.65
Enterprise Value/Market Cap1.25
Enterprise Value/Revenue0.06
Enterprise Value/Gross Profit2.84
Enterprise Value/Ebitda32.35
Forecast
1Y Price Target
$35.50Price Target Upside0.14% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)3.6
Revenue Forecast (FY)$47.18B
World Kinect Business Overview & Revenue Model
Company Description
World Kinect Corporation, together with its subsidiaries, operates as an energy management company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in three segments: Aviation, Land, an...
How the Company Makes Money
World Kinect primarily makes money by acting as a marketer and distributor of fuel and related energy solutions, earning margins and fees for arranging supply, managing logistics, and providing complementary services across its Aviation, Marine, a...
World Kinect Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call highlighted a very strong, above-consensus first half with record adjusted EPS and record consolidated and segment gross profits driven by favorable market volatility and strong execution (Aviation and Marine records, meaningful Land profitability improvement, raised full-year EPS guidance, dividend increase and buybacks). Offsetting these positives were notable pressures: lower volumes, working capital and cash flow strain (driving increased borrowings and interest expense), elevated operating expenses and bad debt reserves, and management's caution that Q2 was an exceptional quarter that may not repeat. Management signaled early signs of working capital improvement and maintained a disciplined, measured outlook for the second half.Positive Updates
Record Adjusted EPS
Adjusted earnings per share of $1.29 in Q2, the highest quarterly adjusted EPS in company history.
Negative Updates
Volume Declines Across Business
Consolidated volume declined 9% year-over-year in Q2 (Aviation down 5%, Marine down 10%, Land down 12%), driven primarily by lower demand tied to the Middle East conflict and portfolio exits.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Adjusted EPS
Adjusted earnings per share of $1.29 in Q2, the highest quarterly adjusted EPS in company history.
Read all positive updates
Company Guidance
The company raised full‑year adjusted EPS guidance to $3.20–$3.40 (from $2.65–$2.85) after reporting Q2 adjusted EPS of $1.29 and record consolidated gross profit of $350M (+50% y/y) on consolidated volume down 9%; segment detail: Aviation volume 1.8B gallons (‑5% y/y) and record gross profit $208M (+51%), with services ≈18% of Aviation GP and services contribution >2x y/y; Marine volume 3.5M metric tons (‑10% y/y) and record GP $80M (~3x y/y); Land GP $62M (‑8% y/y), volume ‑12% y/y, operating income $20M vs $1M LY and operating margin >32% of GP (YTD margin >20% better y/y) and on track to deliver ~2x 2025 operating income for the year; Q3 outlook expects Aviation and Marine GP up year‑over‑year but down sequentially as inventory‑related benefits normalize; cash/CAPEX/returns: operating cash flow use ≈$21M and free cash flow use ≈$35M in Q2, tank wagon/lubes sale returned ≈$85M, Q2 buybacks ≈$14M (YTD ≈$89M), dividend increased 15%; other metrics: total non‑GAAP adjustments ≈$19M ($18M after tax), adjusted op ex $233M (+35% y/y), net interest $31M (+90% y/y), and an adjusted effective tax rate of 21% (vs 11% LY); management remains measured given uncertain volatility and early signs of working capital improvement entering Q3.World Kinect Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.82B | 36.93B | 42.30B | 47.91B | 58.98B | 31.30B |
| Gross Profit | 817.50M | 534.60M | 714.70M | 784.33M | 522.00M | 66.10M |
| EBITDA | 71.70M | -532.00M | 332.40M | 323.33M | 366.10M | 226.80M |
| Net Income | -177.60M | -614.00M | 67.40M | 52.90M | 114.10M | 73.70M |
Balance Sheet | ||||||
| Total Assets | 6.60B | 5.86B | 6.73B | 7.38B | 8.16B | 5.94B |
| Cash, Cash Equivalents and Short-Term Investments | 135.30M | 193.50M | 382.90M | 304.30M | 298.40M | 652.20M |
| Total Debt | 745.30M | 697.10M | 1.06B | 1.08B | 1.05B | 673.60M |
| Total Liabilities | 5.33B | 4.56B | 4.78B | 5.43B | 6.17B | 4.03B |
| Stockholders Equity | 1.26B | 1.30B | 1.95B | 1.94B | 1.98B | 1.91B |
Cash Flow | ||||||
| Free Cash Flow | -16.20M | 227.30M | 191.70M | 14.80M | 59.90M | 111.20M |
| Operating Cash Flow | 46.90M | 292.90M | 259.90M | 102.40M | 138.50M | 150.40M |
| Investing Cash Flow | -100.40M | -170.00M | 64.50M | -101.10M | -724.90M | -58.40M |
| Financing Cash Flow | -241.60M | -315.10M | -230.60M | -152.40M | 237.30M | -113.60M |
World Kinect Technical Analysis
Positive
35.45
Price Trends
35.74
Positive
35.01
Positive
30.14
Positive
Market Momentum
0.16
Positive
54.76
Neutral
44.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WKC, the sentiment is Positive. The current price of 35.45 is below the 20-day moving average (MA) of 36.14, below the 50-day MA of 35.74, and above the 200-day MA of 30.14, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 54.76 is Neutral, neither overbought nor oversold. The STOCH value of 44.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WKC.
World Kinect Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $116.13B | 16.45 | 24.45% | 1.81% | 15.60% | 322.30% | |
74 Outperform | $15.04B | 14.72 | 18.17% | 5.23% | 83.34% | 123.75% | |
72 Outperform | $8.64B | 12.43 | 20.80% | 4.74% | 20.26% | 31.82% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | $829.12M | 15.42 | -72.93% | 9.50% | 0.29% | 21.69% | |
55 Neutral | $1.86B | -11.35 | -13.21% | 2.37% | 7.56% | 58.21% | |
51 Neutral | $297.60M | -3.09 | -16.68% | ― | 4.50% | 52.98% |
* Energy Sector Average
WKC
World Kinect
36.50
11.51
46.05%
CLNE
Clean Energy Fuels
1.40
-1.46
-51.05%
PSX
Phillips 66
284.63
152.73
115.79%
UGP
Ultrapar Participacoes SA
7.80
4.21
117.21%
SUN
Sunoco
72.99
22.03
43.24%
CAPL
Crossamerica Partners
22.18
3.32
17.62%
World Kinect Corporate Events
Business Operations and StrategyExecutive/Board Changes
World Kinect Announces Leadership Transition and Governance Shift
Positive
Sep 17, 2026
On September 17, 2026, World Kinect Corporation announced that founder and long‑time leader Michael J. Kasbar will step down as Executive Chairman, effective December 31, 2026, while remaining on the Board. The Board appointed veteran direct...
Executive/Board ChangesShareholder Meetings
World Kinect shareholders approve directors and governance measures
Positive
Jul 2, 2026
On June 18, 2026, World Kinect Corporation held its 2026 Annual Meeting of Shareholders, at which investors elected all nominated directors to serve until the 2027 annual meeting or until successors are chosen. The slate’s approval, reflecte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.