Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 6

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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.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 $1.5 billion, or 14%, compared to the three months ended March 31, 2024, attributable to decreased revenue of $551.2 million, $457.6 million, and $490.0 million in our land, marine, and aviation segments, respectively, as discussed further below.

Gross Profit. Our gross profit for the three months ended March 31, 2025 was $230.4 million, a decrease of $23.7 million, or 9%, compared to the three months ended March 31, 2024, attributable to decreased gross profit of $18.3 million and $12.7 million in our land and marine segments, respectively, partially offset by increased gross profit of $7.2 million in our aviation segment, as discussed further below.

Operating Expenses. Total operating expenses for the three months ended March 31, 2025 were $237.0 million, an increase of $46.2 million, or 24%, compared to the three months ended March 31