World Kinect Corporation

What does World Kinect own?
World Kinect operates under the World Fuel brand and runs three business segments: Aviation, Land, and Marine fuel supply and services. It also owns fleet payment card programs, the Universal TSS trip support business, and Kinect Energy advisory services.

Is World Kinect publicly traded?
Yes. World Kinect trades on the New York Stock Exchange under the ticker symbol WKC. It was listed under ticker INT before the 2023 renaming from World Fuel Services.

Who founded World Kinect?
The company traces to Trans Tec Services, a Miami marine fuel brokerage co-founded by Michael J. Kasbar in 1984. Kasbar and Paul H. Stebbins built it into World Fuel Services, which became World Kinect Corporation in 2023.

Where is World Kinect headquartered?
World Kinect is headquartered in Miami, Florida, USA, at 9800 N.W. 41st Street.

Who owns World Kinect?
World Kinect is owned by its public shareholders, with no controlling investor. Institutional investors and mutual funds hold most shares. Co-founder Michael Kasbar led the company for over 40 years and serves as Executive Chairman until December 31, 2026.

What is World Kinect's revenue?
World Kinect reported revenue of $36.9 billion in FY2025, down 12% from $42.2 billion in FY2024. The decline was driven by lower fuel prices and reduced volumes, not by a loss of market position.

Is World Kinect the same as World Fuel?
World Kinect Corporation is the legal entity; World Fuel is its operating brand. The company was called World Fuel Services until 2023, adopted the World Kinect name, and returned to operating as World Fuel in 2026.

The company's origins date to 1984, when Michael Kasbar co-founded Trans Tec Services, a marine fuel brokerage in Miami. Kasbar and Paul H. Stebbins built the business into World Fuel Services, which acquired Trans Tec in 1995 and consolidated its identity under the World Fuel Services name. The Florida corporation was incorporated in July 1984.

World Fuel Services went public on the New York Stock Exchange in 2004 under the ticker INT. Over the following two decades it grew from a fuel broker into a diversified energy logistics company through a series of acquisitions. In 2018, it acquired Universal Weather and Aviation for approximately $585 million, expanding into trip support and flight planning services for business and commercial aviation. In 2019 it acquired Kinect Energy Group, a Norwegian energy procurement and management consultancy, adding natural gas and power capabilities in the United States and Europe.

The company expanded its land transportation footprint in the early 2020s, including the acquisition of Flyers Energy Group, a Western US fuel distributor and fleet card operator, and Multi Service Technology Solutions, a provider of closed-loop fuel payment cards for trucking fleets. In 2023 the corporate name changed from World Fuel Services Corporation to World Kinect Corporation, intended to reflect the broader energy management strategy. The ticker changed to WKC at the same time.

In 2025 the company began a strategic restructuring centered on its Aviation and Marine segments and announced plans to exit certain non-core land businesses, retaining higher-margin cardlock, retail, and natural gas activities. The restructuring produced significant impairment and exit charges in FY2025, contributing to the $614.4 million net loss. Management indicated additional exit charges were expected in 2026 as the restructuring continued.

In October 2025 the board announced a leadership transition: Ira Birns became CEO on January 1, 2026, John Rau was promoted to President, and Mike Tejada became CFO. In September 2026 the company announced that Kasbar would step down as Executive Chairman on December 31, 2026, with Ken Bakshi named as his successor. The same announcement confirmed the company was again operating as World Fuel, restoring the legacy brand in the market.

World Kinect's fuel marketing business exposes it to environmental regulation, sanctions compliance, and commodity trading rules across many jurisdictions. Two areas have drawn particular scrutiny.

Land segment impairments and restructuring: In FY2025 the company recorded a net loss of $614.4 million, driven by goodwill and asset impairments in the Land segment and by costs associated with exiting non-core operations. Goodwill on the balance sheet fell from $1.18 billion to $737.5 million. The restructuring is still in progress, with additional exit charges expected in 2026, and it has attracted investor attention because it reversed a decade-long strategy of land distribution acquisitions.

Historical regulatory and legal matters: As a global fuel trader, the company has faced periodic contract disputes with customers and counterparties, and it operates in jurisdictions where sanctions screening of fuel sales is a compliance priority. The company discloses legal proceedings and contingencies in its SEC filings, none of which have been individually material in recent years.