World Kinect marine fuels segment posts highest-ever quarterly gross profit in Q2 2026

New York-listed global energy management company World Kinect Corporation recently announced that it recorded a 57% on year increase in gross profit for the second quarter (Q2) of 2026.

The company posted gross profit of USD 365 million in Q2 2026, higher than gross profit of USD 232 million seen during Q2 2025.

Revenue for its combined aviation, land and marine segments in Q2 2026 was USD 13.6 billion, a 50.4% increase from revenue of USD 9.04 billion in Q2 2025.

Specifically, the marine segment generated gross profit of USD 79.7 million in Q2 2026, up by 195% on year from USD 27 million in Q2 2026.

The company noted that this was the highest quarterly gross profit in the history of the segment. 

This was primarily driven by higher profit contribution from the company’s core resale business and certain physical locations, which benefited from increased bunker fuel prices and elevated market volatility.

In total, WKC sold 3.5 million metric tonnes (mt) of bunker fuel during Q2 2026, down by 10% from 3.9 million mt of marine fuels during the similar period of last year.

According to the earnings call transcript for Q2 2026, Mike Tejada, Executive Vice President and Chief Financial Officer, said marine volume was down 10% year-over-year, driven principally by lower demand tied to the Middle East conflict. 

“Despite the lower volume, marine gross profit increased almost three times the prior year level to $80 million, the highest quarterly gross profit in the history of the segment,” he said. 

“Both the core resale business and certain physical supply locations were meaningfully higher year-over-year, benefiting from elevated bunker fuel prices, increased volatility, and disciplined yield management. 

“The year-over-year comparison also benefited from a particularly low second quarter last year when the global tariff disruption weighed on trade flows and customer demand. Looking to the third quarter and considering our July activity to date, we expect marine gross profit to be up year-over-year, reflecting continued momentum in the business.”

Ira M. Birns, Chief Executive Officer, said: “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.”

Photo credit: World Kinect Corporation
Published: 28 July, 2026