Shares of World Kinect Corporation (WKC) plummeted 6.83% in after-hours trading on Thursday following the release of its third-quarter 2025 financial results and the announcement of significant leadership changes.

The fuel services provider reported adjusted earnings of $0.54 per diluted share for Q3, falling short of the $0.61 expected by analysts and down from $0.62 in the same period last year. Revenue also declined to $9.39 billion from $10.49 billion a year earlier, though it slightly beat the consensus estimate of $9.38 billion. The company's gross profit decreased to $250 million, a 7% drop compared to the previous year.

World Kinect's underperformance was primarily driven by challenges in its Land and Marine segments. The Land segment saw a 20% decrease in gross profit, attributed to unfavorable market conditions and recent divestitures. The Marine segment fared even worse, with a 32% decline in gross profit due to lower bunker fuel prices and reduced market volatility. However, the Aviation segment provided a bright spot, with an 11% increase in gross profit, driven by stronger performance in European airport operations and increased government sales.

Adding to the market's concerns, World Kinect announced a major leadership shakeup. Ira M. Birns will take over as Chief Executive Officer and join the Board of Directors, effective January 1, 2026, replacing Michael Kasbar, who will transition to the role of Executive Chairman. Additionally, Mike Tejada has been appointed as the new Executive Vice President and Chief Financial Officer, while John Rau has been promoted to President. These changes signal a significant shift in the company's top management, which may have contributed to investor uncertainty.