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Dec 31, 2020
World Kinect Q4 2020 Earnings Report
World Kinect Services reported a net loss in the fourth quarter of 2020, impacted by the COVID-19 pandemic.
Key Takeaways
World Fuel Services Corporation reported fourth-quarter results with a total gross profit of $165.2 million, a GAAP net loss of $3.6 million, and an adjusted net income of $1.1 million. The company highlighted the resilience of its diversified business model amidst challenging market conditions.
Total gross profit decreased by 42% year-over-year to $165.2 million.
GAAP net loss was $3.6 million, or $0.06 per diluted share.
Adjusted net income was $1.1 million, or $0.02 per diluted share.
Adjusted EBITDA amounted to $44.6 million.
Revenue by Segment
Forward Guidance
World Fuel Services anticipates that the negative impacts of COVID-19 on its business will continue through 2021, with recovery dependent on factors such as government actions, vaccine development and distribution, and the resumption of normal economic conditions.
Positive Outlook
- Continued actions to enhance operating efficiencies
- Further cost reduction initiatives
- Supporting customers throughout the crisis
- Potential for organic growth as business activity accelerates
- Strategic investments in areas with greatest opportunities for long-term growth and operating leverage
Challenges Ahead
- Significant impact of COVID-19 on the global economy
- Decline in demand in the aviation, land, and marine transportation industries
- Travel restrictions and stay-at-home orders affecting customers
- Potential for continued negative impacts through 2021
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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