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Sep 30, 2023
World Kinect Q3 2023 Earnings Report
World Kinect's financial performance declined in Q3 2023 due to decreased gross profit and net income.
Key Takeaways
World Kinect Corporation reported a decrease in gross profit by 13% to $281 million and a decrease in net income by 18% to $35 million for the third quarter of 2023. The company's GAAP diluted earnings per share and Adjusted diluted earnings per share were $0.58, with Adjusted EBITDA decreasing by 18% to $101 million.
Gross profit decreased by 13% to $281 million.
Net income decreased by 18% to $35 million.
GAAP diluted earnings and Adjusted diluted earnings per share were $0.58.
Adjusted EBITDA decreased by 18% to $101 million.
Forward Guidance
World Kinect remains focused on its strategy to accelerate growth by maximizing efficiencies, expanding energy-management solutions, and increasing the availability of renewable and low-carbon fuels. The company is optimistic about future opportunities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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