Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 64

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 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.

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Results of Operations

Three Months Ended June 30, 2025 Compared to Three Months Ended June 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 Three Months Ended June 30, 20252024Revenue$9,043.3 $10,965.2 Cost of revenue8,810.9 10,720.0 Gross profit232.4 245.2 Operating expenses:Compensation and employee benefits105.5 119.2 General and administrative67.3 72.8 Goodwill and other asset impairments398.6 2.4 Restructuring charges6.0 5.6 Total operating expenses577.5 200.0 Income (loss) from operations(345.1)45.2 Non-operating income (expenses), net:Interest expense and other financing costs, net(25.7)(27.5)Other income (expense), net(78.0)98.9 Total non-operating income (expense), net(103.6)71.4 Income (loss) before income taxes(448.7)116.6 Provision for income taxes(109.6)9.7 Net income (loss) including noncontrolling interest(339.1)106.9 Net income (loss) attributable to noncontrolling interest0.3 (1.4)Net income (loss) attributable to World Kinect$(339.4)$108.3 Basic earnings (loss) per common share$(6.06)$1.81 Diluted earnings (loss) per common share$(6.06)$1.81 

Revenue. Our consolidated revenue for the three months ended June 30, 2025 was $9.0 billion, a decrease of $1.9 billion, or 18%, compared to the three months ended June 30, 2024, attributable to decreased revenue of $867.5 million, $643.6 million, and $