World Kinect Corporation announced its financial results for the second quarter of 2025, reporting revenue of $9,043 million, an 18% decrease year-over-year. Gross profit for the quarter was $232 million, down 5% from the prior year.
The company recorded a net loss of $339 million, resulting in a diluted loss per common share of $6.06, a significant decline from the prior year. This substantial loss was primarily driven by a 189% increase in operating expenses to $577 million, which included $398.6 million in goodwill and other asset impairments, along with $6.0 million in restructuring charges.
Despite the GAAP loss, adjusted diluted earnings per common share increased by 23% to $0.59. The Aviation business delivered strong results, while the Land business performed below expectations. The UK land fuels sale was also highlighted as part of the quarter's activities.
Net cash provided by operating activities (GAAP) fell sharply to $28 million, and free cash flow declined to $13.3 million, a 75% decrease compared to Q2 2024. The company continued its commitment to shareholder value by increasing its quarterly dividend by 18% and repurchasing $35 million of common stock.
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