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Mar 31, 2021
World Kinect Q1 2021 Earnings Report
Reported first quarter results with a decrease in gross profit and net income due to the impact of the pandemic and other factors.
Key Takeaways
World Fuel Services Corporation reported a decrease in total gross profit by 26% year-over-year, a GAAP net income of $18.9 million, and an adjusted net income of $20.7 million for the first quarter of 2021. The company is optimistic about demand improvement as vaccination rates increase and the global economy recovers.
Total gross profit decreased by 26% year-over-year to $191.6 million.
GAAP net income was $18.9 million, or $0.30 per diluted share.
Adjusted net income was $20.7 million, or $0.33 per diluted share.
Adjusted EBITDA was $61.9 million.
Revenue by Segment
Forward Guidance
The company expects negative impacts to continue throughout 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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