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.
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.
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