World Kinect reported higher third-quarter profit and cash flow, with stronger results across its aviation, marine and land businesses. The fuel distributor also raised its full-year 2026 adjusted earnings-per-share outlook, citing a strong quarter and continued progress in Land.
Revenue rose 41% from a year earlier even as reported volume fell 6%. The company said aviation growth reflected an acquisition and expansion in core markets, while marine benefited from higher contributions in its resale business and at certain physical locations.
Key details
- Third-quarter results: Gross profit was $288 million, up 15% year over year; adjusted gross profit was $279 million, up 12%. Net income was $38 million, or 70 cents per diluted share. On an adjusted basis, net income was $51 million, or 99 cents per diluted share, and adjusted EBITDA was $127 million.
- Cash generation: Operating cash flow was $175 million and free cash flow was $164 million for the quarter.
- Revenue and volume: Revenue increased to $13.27 billion from $9.39 billion, while reported volume declined to 4,038 from 4,283. The release does not specify the unit for volume in the provided results.
- Aviation: Segment gross profit increased 4% to $148 million. World Kinect attributed the improvement mainly to its Universal Trip Support Services acquisition, completed in late 2025, and growth in its core commercial fuel business, particularly in Europe and Latin America.
- Marine: Gross profit more than doubled, rising 131% to $59 million. The company pointed to stronger contributions from its core resale business and certain physical locations, which benefited from bunker-fuel prices and global supply dynamics.
- Land: Gross profit was $81 million and operating income was $28 million. Adjusted operating income for the segment increased 102% year over year, reflecting the benefits of the company’s land-business changes and higher contributions from retail and cardlock operations.
- Full-year outlook: World Kinect raised its 2026 adjusted EPS forecast to $3.52–$3.62 from $3.20–$3.40.
- Year-to-date performance: For the first nine months of 2026, revenue was $36.55 billion, up 31%, and gross profit was $924 million, up 30%. Operating income was $232 million, compared with an operating loss of $289 million in the same period last year. Adjusted operating income rose 61% to $292 million.
The higher earnings forecast reflects the company’s stronger outlook for adjusted per-share results. The quarter’s free cash flow also added to its financial flexibility, which management said supports investment in the business and shareholder returns.