World Kinect Q1 revenue falls 12% to $11.0B; net income up 20% to $27M; adj. EPS $0.47

WORLD KINECT CORP

2024-Q1 EPS reported $0.45 revenue$10,951,400,000

Revenue $10.95B, down 12% YoY; gross profit $254M, down 3%.
Net income $27.4M (+20%); diluted EPS $0.45 (+25%); adjusted EPS $0.47 (+31%).
Aviation gross profit $108.4M (+8%), Land $97.3M (-12%), Marine $48.4M (-7%).
Adjusted EBITDA $85.9M, down 1%; volume 4,414 million gallon equivalents, down 1%.
CEO cites weather headwinds in Land, but aviation and marine performed well; outlook strong.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WORLD KINECT CORP reported the first quarter of 2024 results: revenue $ 10,951, net income $ 27, EPS $ 0.45.

Period: the first quarter of 2024
Revenue: $ 10,951
Net income: $ 27
EPS: $ 0.45
Result: reported results

Exact text from the filing

last year are as follows (unaudited - in millions, except percentages and per share data): Three Months Ended March 31, 2024 2023 Change Volume (1) 4,414 4,472 (1)% Revenue $ 10,951 $ 12,482 (12)% Gross profit $ 254 $ 263 (3)% Operating expenses $ 191 $ 198 (4)% Adjusted operating expenses $ 190 $ 198 (4)% Income (loss) from operations $ 63 $ 65 (2)%

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Source: SEC EDGAR

accession 0001628280-24-018192

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