World Kinect Corporation reported a decrease in revenue and net income for the first quarter of 2025. The company's gross profit was $230 million, with a GAAP net loss of $21 million. Despite the net loss, the company generated $114 million in operating cash flow and repurchased $10 million of common stock. Strategic actions included the sale of its U.K. land fuels business and the initiation of cost management actions.
Gross profit for Q1 2025 was $230 million, a decrease of 9% compared to the previous year.
The company reported a GAAP net loss of $21 million, or $0.37 per diluted share, a significant decline from a net income of $27 million in the prior year.
Adjusted net income was $27 million, or $0.48 per diluted share, showing a slight increase in adjusted EPS.
Operating cash flow generated was $114 million, indicating strong cash generation despite the net loss.
The company is focused on streamlining its Land portfolio and cost structure, aiming for broader financial goals and maintaining a strong balance sheet to navigate market dynamics while investing in core capabilities.
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