World Kinect Corporation reported a decrease in revenue but an increase in net income for Q1 2024. While weather impacted land results, aviation and marine performed well. The company remains focused on driving growth and profitability across its three business segments.
Revenue decreased by 12% to $11.0 billion.
Gross profit decreased by 3% to $254.1 million.
Net income increased by 20% to $27.4 million.
Adjusted EBITDA decreased by 1% to $85.9 million.
World Kinect's outlook for the balance of the year remains strong, with a focus on organic growth and strategic investments.
Visualization of income flow from segment revenue to net income
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