World Kinect Q2 2026 Earnings Call: Complete Transcript

World Kinect (NYSE: WKC ) held its second-quarter earnings conference call on Thursday. Below is the complete transcript from the call. This content is powered APIs. 29 for Q2 2026, citing favorable market conditions and strong execution as key drivers.

Aviation and Marine segments delivered record gross profits, aided by market volatility and strategic acquisitions, while the Land segment showed significant profitability improvements following portfolio simplification. 85, reflecting strong performance but maintaining a cautious outlook given market unpredictability. Despite a 9% decline in consolidated volume, gross profit increased by 50% year over year to $350 million due to effective market opportunity conversion. Management emphasized disciplined execution, strategic portfolio focus, and risk management as key factors in achieving these results, while maintaining a measured outlook for the remainder of the year.

Full Transcript OPERATOR (Operator) Thank you for standing by and welcome to World Kinect Corporation's second quarter 2026 earnings conference call. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 11 on your telephone to remove yourself from the queue.

You may press star. I would now like to hand the call over to Brau Medrano, Senior Director of FP&A and Investor Relations. Please go ahead. Brau Medrano, Senior Director of FP&A and Investor Relations Good afternoon everyone and welcome to World Kinect's second quarter 2026 earnings conference call which will be presented alongside our live slide presentation.

Today's presentation is also available via webcast on our Investor Relations website. I'm Brau Medrano, Senior Director of FP&A and Investor Relations. With me on the call today is Ira Michael Birns, Chief Executive Officer, John Rao, President and Mike Tejada, Executive Vice President and Chief Financial Officer. And now I'd like to review our safe harbor statement.

Certain statements made today, including comments about our expectations regarding future plans and performance, are forward-looking statements that are subject to a range of uncertainties and risks that could cause actual results to materially differ. Factors that could cause actual results to materially differ can be found in our most recent Form 10-K and other reports filed with the Securities and Exchange Commission. We assume no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. This presentation also includes certain non-GAAP financial measures.

A reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures is included in our press release and can be found on our website. We will begin with several minutes of prepared remarks which will then be followed by a question and answer period. At this time I would like to introduce our Chief Executive Officer, Ira Michael Birns. Ira Michael Birns, Chief Executive Officer Thank you Braulio and good afternoon everyone.

We delivered an exceptional second quarter. 29, the highest quarterly adjusted EPS in our company's history. While favorable market conditions contributed meaningfully to the quarter, our teams executed exceptionally well and converted those opportunities into strong results. More importantly, the quarter provides further evidence that the actions we have taken over the past several years to simplify the portfolio, strengthen our core businesses and improve returns are translating into stronger performance.

Aviation and Marine each delivered record quarterly gross profit supported by favorable market conditions, including continued volatility associated with the conflict in the Middle East. During periods of disruption, customers place an even greater premium on certainty of supply, operational execution and trusted relationships. That is where our supplier relationships, local market knowledge and global platform become especially valuable. Our teams did an outstanding job converting those market opportunities into results by staying close to customers, managing risk carefully and executing with discipline.

Just as important, Land continued the improvement we discussed coming out of the first quarter, providing further evidence that the actions we have taken to simplify the portfolio and improve returns are working. Over the past five weeks, I spent a significant amount of time with our teams across Europe. Those visits reinforce something I believe since becoming CEO, the strength of this company starts with our people. Across our businesses I saw teams that know their markets, understand their customers and manage risk carefully and take tremendous pride in what they do.

The execution we delivered in the second quarter was a direct reflection of those strengths. In June, we also brought our commercial leaders together in Miami as we reviewed opportunities across our businesses. What struck me most was the enthusiasm around the opportunities under discussion. Many of these opportunities are expected to create value in 27 and beyond, giving us increased confidence in our long term growth outlook.

Moving on to the segments, I will cover the highlights and Mike will provide the financial details. Aviation performed exceptionally well and we saw strong execution across the business, solid contributions from our fuel offerings across the globe, and continued benefits from the Universal Trip Support ac