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Jun 30, 2021
World Kinect Q2 2021 Earnings Report
World Fuel Services reported earnings for Q2 2021 with a decrease in gross profit but an increase in net income.
Key Takeaways
World Fuel Services Corporation reported a decrease in total gross profit by 14% year-over-year, but GAAP net income increased to $17.6 million, or $0.28 per diluted share. Adjusted net income was $25.0 million, or $0.39 per diluted share, and adjusted EBITDA was $59.8 million.
Total gross profit decreased by 14% year-over-year to $183.9 million.
GAAP net income was $17.6 million, or $0.28 per diluted share.
Adjusted net income was $25.0 million, or $0.39 per diluted share.
Adjusted EBITDA reached $59.8 million.
Revenue by Segment
Forward Guidance
The company anticipates increasing demand for the balance of the year and aims to capitalize on future organic and strategic investment opportunities.
Positive Outlook
- Volumes are improving across businesses.
- Optimism about increasing demand for the balance of the year.
- Positioning to best serve the needs of customers.
- Disciplined focus on cost and working capital management.
- Continued strength of balance sheet and liquidity profile.
Challenges Ahead
- COVID-19 pandemic continues to impact transportation industries.
- Commercial airlines have experienced a substantial decline in business activity.
- Activity in many parts of the world continues to be negatively impacted by travel restrictions and lockdowns.
- Ultimate global recovery is dependent on actions taken by governments and businesses to combat the virus.
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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