Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 18

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
)(81.0)(91.0)Total World Kinect shareholders' equity1,921.2 1,948.7 Noncontrolling interest7.0 7.2 Total equity1,928.3 1,955.9 Total liabilities and equity$6,589.1 $6,731.8 

The accompanying Notes are an integral part of these unaudited Condensed Consolidated Financial Statements.1

WORLD KINECT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND

COMPREHENSIVE INCOME

(Unaudited – In millions, except per share data)

 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)$0.46 Basic weighted average common shares56.8 59.9 Diluted earnings (loss) per common share$(0.37)$0.45 Diluted weighted average common shares56.8 60.3 Comprehensive income: Net income (loss) including noncontrolling interest$(21.3)$27.2 Other comprehensive income (loss):  Foreign currency translation adjustments