Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 48

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
 our business," "Our business depends on our ability to adequately finance our capital requirements and fund our investments, which, if not available to us, would impact our ability to conduct our operations," "Significant inflation and higher interest rates may adversely affect our business and financial condition," and "Our derivative transactions with customers, suppliers, merchants and financial institutions expose us to price and credit risks, which could have a material adverse effect on our business" in Item 1A. – Risk Factors in our 2024 10-K Report for additional discussion of these risks.

24

Results of Operations

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Consolidated Results of Operations

The following provides a summary of our consolidated results of operations for the periods indicated (in millions, except per share amounts):

For the Three Months Ended March 31, 20252024Revenue$9,452.5 $10,951.4 Cost of revenue9,222.1 10,697.3 Gross profit230.4 254.1 Operating expenses:Compensation and employee benefits105.1 115.5 General and administrative72.4 75.1 Asset impairments44.5 — Restructuring charges15.0 0.2 Total operating expenses237.0 190.8 Income (loss) from operations(6.6)63.3 Non-operating income (expenses), net:Interest expense and other financing costs, net(22.9)(28.9)Other income (expense), net1.3 (3.9)Total non-operating income (expense), net(21.5)(32.8)Income (loss) before income taxes(28.1)30.5 Provision for income taxes(6.8)3.3 Net income (loss) including noncontrolling interest(21.3)27.2 Net income (loss) attributable to noncontrolling interest(0.2)(0.2)Net income (loss) attributable to World Kinect$(21.1)$27.4 Basic earnings (loss) per common share$(0.37)$0.46 Diluted earnings (loss) per common share$(0.37)$0.45 

Revenue. Our consolidated revenue for the three months ended March 31, 2025 was $9.5 billion, a decrease of