World Kinect Corporation reported its financial results for the first quarter of 2025, with revenue reaching $9,453 million, a 14% decrease compared to the prior year. Gross profit for the quarter was $230 million, down 9% year-over-year.
The company recorded a net loss of $21 million, resulting in a diluted loss per common share of $0.37, a significant decline from the prior year. This was primarily due to a 24% increase in operating expenses to $237 million, which included substantial asset impairment and restructuring charges.
Despite the GAAP loss, adjusted diluted earnings per common share increased by 2% to $0.48. The Aviation business outperformed expectations, while the Land business faced headwinds. The divestiture of the U.K. Land business was completed during the quarter, which management stated marks continued progress in streamlining the Land portfolio.
Ira M. Birns, Executive Vice President and Chief Financial Officer, noted that the company continued to streamline its land business and right-size its cost structure, while delivering strong operating and free cash flow. Net cash provided by operating activities increased to $114.4 million from $110.2 million in the prior year.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.