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MIAMI - World Kinect Corporation (NYSE:WKC) reported first quarter 2025 earnings that beat analyst expectations, while revenue fell short of estimates.
The company posted adjusted earnings per share of $0.48, surpassing the consensus estimate of $0.45. However, revenue came in at $9.45 billion, below analysts’ projections of $10.47 billion.
The aviation segment outperformed expectations in the quarter, while the land business faced headwinds due to challenging market conditions. Revenue declined 14% year-over-year to $9.45 billion, primarily due to lower fuel prices and reduced demand across segments.
World Kinect reported a GAAP net loss of $21 million, or $0.37 per diluted share, compared to net income of $27 million, or $0.45 per share, in the same quarter last year. The results included a $44.5 million asset impairment charge related to the sale of the company’s U.K. land fuels business.
"Our Aviation business outperformed our expectations this quarter, while our Land business faced headwinds due to challenging market conditions," said Michael J. Kasbar, Chairman and Chief Executive Officer.
The company generated $114 million in operating cash flow and repurchased $10 million of common stock during the quarter. World Kinect also announced the completion of the sale of its U.K. land fuels business on April 9, 2025.
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