Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 69

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 further reduced market volatility, as well as a lower profit contribution from certain physical locations.

Income from operations in our marine segment for the three months ended September 30, 2025 was $4.7 million, a decrease of $10.2 million, or 68%, compared to the three months ended September 30, 2024, driven by the decrease in gross profit discussed above, partially offset by a decrease in operating expenses. The decrease in operating expenses was primarily attributable to lower incentive compensation costs.

31

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 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 Nine Months Ended September 30, 20252024Revenue$27,887.6 $32,407.5 Cost of revenue27,175.2 31,640.0 Gross profit712.4 767.5 Operating expenses:Compensation and employee benefits323.0 357.7 General and administrative209.2 219.7 Goodwill and other asset impairments443.1 3.6 Restructuring charges25.9 5.7 Total operating expenses1,001.2 586.7 Income (loss) from operations(288.8)180.7 Non-operating income (expenses), net:Interest expense and other financing costs, net(74.4)(80.4)Other income (expense), net(74.8)96.4 Total non-operating income (expense), net(149.2)16.0 Income (loss) before income taxes(438.0)196.7 Provision for income taxes(105.8)27.6 Net income (loss) including noncontrolling interest(332.2)169.1 Net income (loss) attributable to noncontrolling interest2.5 (0.1)Net income (loss) attributable to World Kinect$(334.7)$169.2 Basic earnings (loss) per common share$(5.95)$2.84 Diluted earnings (loss) per common share$(5.95)$2.82 

Revenue. Our consolidated revenue for the nine months ended September 30, 2025 was $27.9 billion, a decrease of $4.5 billion,