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Sep 30, 2021
World Kinect Q3 2021 Earnings Report
Reported third quarter results with aviation segment driven by travel recovery offsetting government activity reduction, while marine segment declined due to margin compression and land segment decreased due to business sale.
Key Takeaways
World Fuel Services Corporation reported third-quarter results with a decrease in total gross profit, but net income and adjusted net income were reported. The aviation segment saw growth due to increased travel demand, while the marine and land segments experienced declines. The company generated significant cash flow and maintained a solid balance sheet.
Total gross profit decreased by 8% year-over-year to $197.5 million.
GAAP net income was $21.7 million, or $0.34 per diluted share.
Adjusted net income was $22.7 million, or $0.36 per diluted share.
Aviation segment gross profit increased by 16% year-over-year due to increased travel volumes.
Forward Guidance
The release includes forward-looking statements regarding the company's beliefs and expectations about its position to drive growth in its core business activities, its ability to support future growth and deliver long term shareholder value, as well as the ultimate impact of the coronavirus pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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