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Mar 31, 2023
World Kinect Q1 2023 Earnings Report
Reported an increase in gross profit and adjusted EBITDA, but a decrease in net income and earnings per share.
Key Takeaways
World Fuel Services Corporation reported mixed results for Q1 2023. Gross profit increased by 14%, and adjusted EBITDA rose by 16%. However, net income decreased by 13%, and both GAAP and adjusted diluted earnings per share decreased.
Gross profit increased 14% to $263 million.
Net income decreased 13% to $23 million.
GAAP diluted earnings and adjusted diluted earnings per share were $0.36.
Adjusted EBITDA increased 16% to $87 million.
Revenue by Segment
Forward Guidance
World Fuel Services is focused on maximizing returns in core businesses and growing sustainability and digital solutions. The company aims to leverage digital technology and produce greater operational efficiencies.
Positive Outlook
- Growth in sustainability solutions.
- Growth in digital solutions.
- Maximizing returns in core businesses.
- Leveraging digital technology.
- Producing greater operational efficiencies.
Challenges Ahead
- Customer and counterparty creditworthiness.
- Sudden changes in the market price of fuel.
- Adverse conditions in the industries in which our customers operate.
- Inability to effectively mitigate certain financial risks.
- Changes in the political, economic or regulatory environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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