On this page of StockholderLetter.com we present the latest annual shareholder letter from WORLD KINECT CORP — ticker symbol WKC. Reading current and past WKC letters to shareholders can bring important insights into the investment thesis.
WORLD KINECT CORPORATION
World Kinect Corporation 2025 Annual Report
A letter from our CEO Dear Shareholders, I stepped into the CEO role in January with a clear sense of urgency and a deep appreciation for both the challenges and strengths of this company. I am pleased with the meaningful progress we made in 2025 as we advanced our strategic transformation and laid the groundwork for improved performance and momentum in 2026. We are now entering a QHZ FKDSWHU RQH GH QHG E\ D VWURQJ IRXQGDWLRQ VLPSOL HG operating model and clear priorities. In 2025, our Board approved an 18% increase in our quarterly dividend, and we returned approximately $126M to shareholders through dividends and share repurchases As a direct result of our efforts to simplify the business, we are a more focused organization today, concentrated primarily on areas where we can perform best and deliver the greatest value for our customers, colleagues and shareholders alike. Much of our recent progress stems from decisive actions in our Land segment, where we streamlined the business, advanced the exits of lower-return activities and turned our focus to areas where we can apply operating leverage and drive improved returns. Most importantly, the deliberate and strategic choices we have made position the company to drive more consistent performance and value creation over time. As we worked to simplify our business and operations, we also continued to invest in our core businesses and scale the solutions we provide to customers. A clear example is our acquisition of Universal Weather and Aviation s Trip Support Services business, which was completed in the fourth quarter, and not only strengthens our aviation platform but also enhances the value we can deliver globally. Going forward, we are focused on prioritizing opportunities that deepen our capabilities and support more scalable, consistent results and stronger returns. :H EHOLHYH WKDW RXU VWUDWHJLF GLUHFWLRQ VKRXOG DOVR EH UH HFWHG in our corporate identity and, to that end, we have decided to realign our corporate brand to our core commercial brand. As ZH PRYH DKHDG :RUOG )XHO ZLOO VHUYH DV RXU XQL HG EUDQG IRU substantially all internal and external purposes. This is the logical QH[W VWHS LQ RXU UHSRVLWLRQLQJ HIIRUWV DQG UH HFWV RXU VWUDWHJLF clarity and conviction in our approach to value creation. Our customers around the world already know us as World Fuel, and WKLV EUDQG FOHDUO\ UH HFWV ZKR ZH DUH WRGD\ D WUXVWHG SURYLGHU of transportation fuels and related services. This return to our roots reinforces our commitment to simplifying the business, prioritizing higher-return opportunities and driving long-term value
creation. World Kinect will remain only as our corporate legal name, and our stock symbol will remain unchanged. ,Q DGGLWLRQ WR RXU VLJQL FDQW WUDQVIRUPDWLRQ HIIRUWV ZH UHPDLQ committed to disciplined capital allocation. In 2025, our Board approved an 18% increase in our quarterly dividend, and we returned approximately $126 million to shareholders through dividends and VKDUH UHSXUFKDVHV UHSUHVHQWLQJ PRUH WKDQ RI IUHH FDVK RZ1. As we move through 2026, our priorities are clear: continue to execute our repositioning efforts in our Land business to improve returns, reduce complexity and enable greater focus on Land s core growth activities; integrate Universal Weather and scale our aviation solutions across the platform; and increase transparency so the market has a clearer understanding of our business, strategy and JURZWK GULYHUV :H DUH FRQ GHQW WKHVH DFWLRQV ZLOO HQKDQFH RXU ability to deliver for customers, strengthen our execution and create sustainable value for shareholders. There is valuable work underway at World Fuel. We see a compelling opportunity for growth across our core markets ahead, supported by our talented global team of more than 4,000 colleagues, and we look forward to all that is on the horizon. Thank you for your continued support as we enter this next chapter. Sincerely, Ira M. Birns &KLHI ([HFXWLYH 2I FHU 1 )UHH &DVK )ORZ LV D QRQ *$$3 QDQFLDO PHDVXUH 3OHDVH VHH $SSHQGL[ IRU D UHFRQFLOLDWLRQ RI WKLV QRQ *$$3 QDQFLDO PHDVXUH WR WKHLU PRVW GLUHFWO\ FRPSDUDEOH *$$3 PHDVXUHV
 • shareholder letter icon 4/28/2026 Letter Continued (Full PDF)
 • stockholder letter icon 5/26/2023 WKC Stockholder Letter
 • stockholder letter icon 4/26/2024 WKC Stockholder Letter
 • stockholder letter icon 4/25/2025 WKC Stockholder Letter
 • stockholder letter icon More "Oil & Gas Equipment & Services" Category Stockholder Letters
 • Benford's Law Stocks icon WKC Benford's Law Stock Score = 100


WKC Shareholder/Stockholder Letter Transcript:

WORLD KINECT CORPORATION


World Kinect Corporation 2025 Annual Report

A letter from
our CEO
Dear Shareholders,
I stepped into the CEO role in January with a clear sense
of urgency and a deep appreciation for both the challenges
and strengths of this company. I am pleased with the
meaningful progress we made in 2025 as we advanced our
strategic transformation and laid the groundwork for improved
performance and momentum in 2026. We are now entering a
QHZ FKDSWHU    RQH GH  QHG E\ D VWURQJ IRXQGDWLRQ  VLPSOL  HG 
operating model and clear priorities.
In 2025,
our Board approved an
18%
increase in our quarterly
dividend, and we
returned approximately
$126M
to shareholders through
dividends and share
repurchases
As a direct result of our efforts to simplify the business, we are
a more focused organization today, concentrated primarily on
areas where we can perform best and deliver the greatest value
for our customers, colleagues and shareholders alike. Much of
our recent progress stems from decisive actions in our Land
segment, where we streamlined the business, advanced the exits
of lower-return activities and turned our focus to areas where we
can apply operating leverage and drive improved returns. Most
importantly, the deliberate and strategic choices we have made
position the company to drive more consistent performance and
value creation over time.
As we worked to simplify our business and operations, we
also continued to invest in our core businesses and scale the
solutions we provide to customers. A clear example is our
acquisition of Universal Weather and Aviation   s Trip Support
Services business, which was completed in the fourth quarter,
and not only strengthens our aviation platform but also enhances
the value we can deliver globally. Going forward, we are focused
on prioritizing opportunities that deepen our capabilities and
support more scalable, consistent results and stronger returns.
:H EHOLHYH WKDW RXU VWUDWHJLF GLUHFWLRQ VKRXOG DOVR EH UH  HFWHG 
in our corporate identity and, to that end, we have decided to
realign our corporate brand to our core commercial brand. As
ZH PRYH DKHDG  :RUOG )XHO ZLOO VHUYH DV RXU XQL  HG EUDQG IRU 
substantially all internal and external purposes. This is the logical
QH[W VWHS LQ RXU UHSRVLWLRQLQJ HIIRUWV DQG UH  HFWV RXU VWUDWHJLF 
clarity and conviction in our approach to value creation. Our
customers around the world already know us as World Fuel, and
WKLV EUDQG FOHDUO\ UH  HFWV ZKR ZH DUH WRGD\    D WUXVWHG SURYLGHU 
of transportation fuels and related services. This return to our
roots reinforces our commitment to simplifying the business,
prioritizing higher-return opportunities and driving long-term value

creation. World Kinect will remain only as our corporate legal name,
and our stock symbol will remain unchanged.
,Q DGGLWLRQ WR RXU VLJQL  FDQW WUDQVIRUPDWLRQ HIIRUWV  ZH UHPDLQ 
committed to disciplined capital allocation. In 2025, our Board
approved an 18% increase in our quarterly dividend, and we returned
approximately $126 million to shareholders through dividends and
VKDUH UHSXUFKDVHV  UHSUHVHQWLQJ PRUH WKDQ     RI IUHH FDVK   RZ1.
As we move through 2026, our priorities are clear: continue to
execute our repositioning efforts in our Land business to improve
returns, reduce complexity and enable greater focus on Land   s core
growth activities; integrate Universal Weather and scale our aviation
solutions across the platform; and increase transparency so the
market has a clearer understanding of our business, strategy and
JURZWK GULYHUV  :H DUH FRQ  GHQW WKHVH DFWLRQV ZLOO HQKDQFH RXU 
ability to deliver for customers, strengthen our execution and create
sustainable value for shareholders.
There is valuable work underway at World Fuel. We see a compelling
opportunity for growth across our core markets ahead, supported by
our talented global team of more than 4,000 colleagues, and we look
forward to all that is on the horizon.
Thank you for your continued support as we enter this next chapter.
Sincerely,
Ira M. Birns
&KLHI ([HFXWLYH 2I  FHU
1 )UHH &DVK )ORZ LV D QRQ *$$3   QDQFLDO PHDVXUH  3OHDVH VHH $SSHQGL[ IRU D UHFRQFLOLDWLRQ  
     RI WKLV QRQ *$$3   QDQFLDO PHDVXUH WR WKHLU PRVW GLUHFWO\ FRPSDUDEOH *$$3 PHDVXUHV


shareholder letter icon 4/28/2026 Letter Continued (Full PDF)
 

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