World Kinect Corporation ( (WKC) ) has released its Q4 earnings. Here is a breakdown of the information World Kinect Corporation presented to its investors.
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World Kinect Corporation, based in Miami, Florida, is a global energy management company that provides fulfillment and related services to over 150,000 customers in aviation, marine, and land-based transportation sectors, along with natural gas and power supplies in the US and Europe. The company is also expanding its sustainability-related products and services.
In its latest earnings report, World Kinect Corporation announced a gross profit of $259 million for the fourth quarter of 2024, despite a GAAP net loss of $102 million. The company also reported an adjusted net income of $36 million and generated $120 million in operating cash flow. For the full year 2024, the company’s gross profit stood at $1.03 billion, with a GAAP net income of $67 million.
Key financial metrics revealed a diverse performance across segments. The aviation segment saw a decrease in gross profit by 8%, attributed to the sale of Avinode and lower inventory-related profitability, while the land segment recorded a significant 83% increase in gross profit due to a non-recurring item from the previous year. The marine segment faced a 22% decline in gross profit because of reduced bunker fuel prices amidst market volatility. The company also completed a divestiture in Brazil, resulting in a one-time non-cash pre-tax loss.
Despite challenges, World Kinect’s strategic actions, including share repurchases and operating efficiency improvements, have positioned the company to continue delivering enhanced shareholder returns. The company remains committed to its medium-term objectives and is focused on driving growth and increasing profitability through strategic actions.
Looking forward, World Kinect Corporation is determined to execute its strategies to achieve enhanced shareholder returns by improving operating efficiencies and advancing its core business operations.
