Fri, Apr 25, 3:54 PM (75 days ago)
**World Kinect Corporation (WKC) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $9.5 billion, a 14% decrease from Q1 2024 ($10.9 billion). - **Gross Profit:** $230.4 million, down 9% from $254.1 million in Q1 2024. - **Net Income:** A loss of $21.1 million, compared to a profit of $27.4 million in Q1 2024. - **Earnings per Share (EPS):** A loss of $0.37, compared to a profit of $0.46 in Q1 2024. - **Cash Flow from Operations:** $114.4 million, a slight increase from $110.2 million in Q1 2024. **Segment Performance:** - **Aviation:** Revenue down 10% to $4.7 billion, but gross profit up 7% to $115.7 million. - **Land:** Revenue down 16% to $2.9 billion, gross profit down 19% to $79.0 million. - **Marine:** Revenue down 19% to $1.9 billion, gross profit down 26% to $35.7 million. **Key Metrics and Trends:** - **Operating Expenses:** Increased by 24% to $237.0 million, driven by asset impairment charges and restructuring costs. - **Non-Operating Income (Expense):** Improved by $11.3 million due to decreased interest expense and foreign currency exchange gains. - **Income Taxes:** A benefit of $6.8 million, compared to an expense of $3.3 million in Q1 2024. - **Cash and Cash Equivalents:** Increased to $456.4 million from $382.9 million in Q4 2024. **Future Operations and Uncertainties:** - **Restructuring:** Ongoing initiatives to streamline operations and reduce costs, with $15.0 million in restructuring charges in Q1 2025. - **Divestitures:** Completed the sale of the U.K. land fuels business (Watson Fuels) and the Avinode Group. - **Market Conditions:** Uncertainty due to trade restrictions, inflation, and geopolitical risks. - **Liquidity:** Sufficient cash and credit facilities to fund working capital and strategic investments for at least the next 12 months. **Management's Outlook:** - Focus on cost management, operational efficiency, and strategic investments. - Continued assessment of market conditions and potential impacts on financial performance. - Commitment to maintaining strong liquidity and financial flexibility.