UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ COMMISSION FILE NUMBER 001-09533 WORLD KINECT CORPORATION (Exact name of registrant as specified in its charter) Florida 9800 N.W. 41st Street, Miami, Florida 33178 59-2459427 (Address of Principal Executive Offices) (Zip Code) (I.R.S. Employer Identification No.) ☒ QUA ...

World Kinect Corporation (NYSE:WKC) Q1 2025 Earnings Conference Call April 24, 2025 5:00 PM ET Company Participants Braulio Medrano – Senior Director-FP&A and Investor Relations Michael Kasbar – Chairman and Chief Executive Officer Ira Birns – Executive Vice President and Chief Financial Officer Conference Call Participants Ken Hoexter – BofA Ben Nolan – Stifel John Royall – JPMorgan Operator Thank you for standing by, and welcome to World Kinect Corporation's First Quarter 2025 Earnings Conference Call. At ...

Financial Performance - For the quarter ended March 2025, World Kinect (WKC) reported revenue of $9.45 billion, down 13.7% year-over-year, and EPS of $0.48, slightly up from $0.47 in the same quarter last year [1] - The reported revenue was below the Zacks Consensus Estimate of $10.27 billion, resulting in a revenue surprise of -7.99%, while the EPS exceeded the consensus estimate of $0.45, yielding an EPS surprise of +6.67% [1] Key Metrics - World Kinect's stock has returned -16.3% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The company currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3] Segment Performance - Aviation volume was reported at 1,700.2 million gallons, exceeding the average estimate of 1,646.91 million gallons, with revenue of $4.65 billion, above the $4.41 billion estimate, but showing a year-over-year decline of -9.5% [4] - Land segment revenue was reported at $2.87 billion, significantly below the $3.68 billion estimate, reflecting a year-over-year decline of -16.1% [4] - Marine segment revenue was $1.93 billion, also below the $2.22 billion estimate, with a year-over-year decline of -19.1% [4] - Income from operations in the Aviation segment was $56.20 million, surpassing the estimate of $42.91 million, while Land reported a loss of -$45.30 million against an expected profit of $15.38 million [4]

First Quarter 2025 Earnings Call Copyright © 2025 World Kinect Corporation. All rights reserved. Disclaimer and Cautionary Note Regarding Forward-Looking Statements Certain statements, including comments about World Kinect Corporation's expectations regarding future plans, performance and acquisitions are forward-looking statements that are subject to a range of uncertainties and risks that could cause World Kinect's actual results to materially differ from the forward-looking information. The forward-looki ...

Exhibit 99.1 World Kinect Corporation Reports First Quarter 2025 Results MIAMI—April 24, 2025—World Kinect Corporation (NYSE: WKC) today reported financial results for the first quarter of 2025. First Quarter 2025 Highlights Year-Over-Year Segment Profitability First Quarter 2025 – U.K. Land Divestiture and Restructuring Activities 1 • Gross profit of $230 million • GAAP net loss of $21 million, or $0.37 per diluted share • Adjusted net income of $27 million, or $0.48 per diluted share • Generated $114 mill ...

Economic and Market Conditions - Significant inflation in the U.S. and other jurisdictions has increased costs, potentially impacting financial results if costs rise faster than revenue[104] - The company faces intense competition from large multinational corporations and specialized firms, which may lead to a loss of market share or reduced prices[105] - The company relies on a limited number of suppliers for fuel and related products, which may affect its business if suppliers do not provide favorable terms[106] Regulatory and Compliance Risks - Climate change regulations and GHG emissions monitoring could significantly impact business operations and financial results[109] - The Inflation Reduction Act (IRA) imposes a fee on GHG emissions and provides funding for renewable energy, potentially affecting the use of petroleum-based fuels[111] - Increasing focus on ESG issues may lead to higher operational costs and compliance requirements, impacting the company's reputation and financial performance[121] - The company is subject to extensive environmental laws and regulations, which can result in significant liabilities and increased operating costs[124] - Compliance with evolving data privacy and protection laws may increase operational costs and expose the company to regulatory penalties[126] - The evolving nature of privacy laws in the U.S., E.U., and other jurisdictions may require costly changes to IT systems for data handling[127] - Non-compliance with data privacy regulations could lead to substantial fines, penalties, and adverse effects on business reputation and financial condition[128] - International operations are subject to anti-corruption laws, which may impose significant compliance costs and expose the company to civil and criminal penalties[129] - The company operates in countries with high corruption risks, increasing the likelihood of improper payments and enforcement actions[130] - Economic sanctions and international trade controls restrict business dealings with certain countries, impacting operations and compliance costs[131] - The company has established policies to comply with laws and regulations, but violations could lead to severe penalties and affect financial stability[134] Operational Risks - The company faces risks related to pandemics and infectious diseases, which could adversely impact operations and financial condition[135] Financial Instruments and Valuation - The notional and fair market values of commodity-based derivative instruments as of December 31, 2024, were $88.9 million and $122.7 million, respectively[238] - The total fair value of foreign currency exchange derivative contracts was a net asset of $6.2 million as of December 31, 2024[241] - A hypothetical 10% change in exchange rates is not expected to materially impact income from operations[239] - As of December 31, 2024, the company had a $455.3 million Term Loan with applicable margins of 0.875% for base rate loans and 1.875% for Eurodollar rate loans[242] - The aggregate outstanding balance of finance lease obligations was $29.9 million, with interest rates ranging from 2.6% to 7.2%[242] - The company entered into a $300 million Eurodollar floating-for-fixed interest rate swap, locking in a pay rate of 0.435%[243] - A fluctuation of 100 basis points in the interest rate would result in a $10.4 million change in interest expense over the next twelve months[244] - The fair value of the interest rate swap contract was $2.9 million as of December 31, 2024[244] - The fair value of outstanding Convertible Notes is influenced by the company's common stock price, which can increase or decrease their value[245] - Upon conversion of Convertible Notes, the company can settle in cash, shares, or a combination, potentially affecting market prices of its common stock[246] - The company entered into convertible note hedge transactions to reduce potential dilution upon conversion of the notes[247] - Warrant transactions related to the Convertible Notes could have a dilutive effect if the market price exceeds the strike price[247]

Group 1 - Momentum investing contrasts with the traditional "buy low and sell high" strategy, focusing instead on "buying high and selling higher" to capitalize on fast-moving stocks [1] - Identifying the right entry point for trending stocks can be challenging, as they may lose momentum if future growth does not justify their high valuations [1] - Investing in bargain stocks that have recently shown price momentum can be a safer strategy, with tools like the Zacks Momentum Style Score aiding in identifying such stocks [2] Group 2 - World Kinect (WKC) has shown a four-week price change of 6.8%, indicating growing investor interest and positioning it as a strong candidate for momentum investing [3] - WKC has gained 6.2% over the past 12 weeks and has a beta of 1.27, suggesting it moves 27% more than the market, indicating strong momentum [4] - WKC holds a Momentum Score of A, suggesting it is an opportune time to invest in the stock for potential gains [5] Group 3 - WKC has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which typically attract more investors and drive prices higher [6] - The stock is trading at a Price-to-Sales ratio of 0.04, indicating it is undervalued, as investors pay only 4 cents for each dollar of sales [6] - WKC appears to have significant growth potential while maintaining a reasonable valuation, making it an attractive investment option [7] Group 4 - In addition to WKC, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, suggesting further investment opportunities [7] - Various Zacks Premium Screens are available to help investors find winning stock picks based on different investing styles [8]

Financial Data and Key Metrics Changes - The company reported a consolidated fourth quarter total volume of 4.5 billion gallons, down 1% year-over-year, and a full year volume of 17.7 billion gallons, down approximately 2% [22] - Consolidated adjusted gross profit for the fourth quarter was $259 million, an 8% decline from the previous year, while the full year adjusted gross profit was $1.03 billion, down 7% from 2023 [22][23] - Adjusted consolidated operating expenses were $197 million in the fourth quarter, down 5% year-over-year, and for the full year, adjusted operating expenses were $773 million, a 6% decrease from 2023 [31][32] Business Line Data and Key Metrics Changes - **Aviation**: Fourth quarter aviation volume was 1.8 billion gallons, up 4% year-over-year, while full year aviation volume was 7.3 billion gallons, down 1% [24] - **Land**: Fourth quarter land volumes decreased 5% year-over-year, with adjusted gross profit of $104 million, effectively flat compared to 2023. Full year land adjusted gross profit was $384 million, down 14% year-over-year [27][28] - **Marine**: Fourth quarter marine volumes were down 4% year-over-year, with gross profit decreasing approximately 22%. For the full year, marine gross profit was down 9% year-over-year [29] Market Data and Key Metrics Changes - Natural gas and power volumes represented 40% of total volume in the fourth quarter, up from 37% in the same period of 2023 [27] - The company experienced unfavorable market conditions in Brazil and the UK, contributing to lower profit contributions from natural gas and power businesses [28] Company Strategy and Development Direction - The company is focused on efficient capital allocation and operational efficiencies, with a commitment to enhancing shareholder returns through share repurchases and dividends [10][14] - A key strategic move was the divestiture of the Brazilian business, which was underperforming and subject to significant earnings volatility [12][18] - The company aims to streamline its land operations and is committed to shedding underperforming activities while reallocating capital to improve financial returns [13][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving medium-term financial targets, particularly in operating margin and free cash flow, despite challenges in certain segments [9][14] - The company anticipates further improvements in land gross profit as the year progresses, driven by core business activities in North America [28][80] - Management highlighted the importance of focusing on the U.S. market, which is seen as a significant growth opportunity [60] Other Important Information - The company generated operating cash flow of $120 million in the fourth quarter and $260 million for the full year, aligning with long-term cash flow targets [36] - Total capital allocated to share repurchases and dividends was $139 million for the full year, representing a 47% increase year-over-year [38] Q&A Session Summary Question: Can you describe the Brazil sale and the North American businesses that were shed? - Management indicated that the Brazilian business was small but volatile, generating close to zero gross profit. The U.S. business included a poorly performing heating oil segment that was restructured to improve profitability [47][49][56] Question: What is the scale of the revenue shed from Brazil and the U.S.? - The revenue from Brazil was negligible, with net revenue close to zero. The U.S. business also had minimal revenue, focusing more on shedding expenses [56][57] Question: Are there further opportunities to refine the business? - Management noted that there are still one or two opportunities to eliminate underperforming activities that do not contribute significantly to profitability [58][59] Question: What are the drivers of gross profit growth in the land segment for Q1? - Expected improvements in the core cardlock and retail businesses in North America, along with a slight improvement in natural gas profitability, were highlighted as key drivers [80]

Core Insights - World Kinect (WKC) reported quarterly earnings of $0.62 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, and showing an increase from $0.54 per share a year ago, resulting in an earnings surprise of 19.23% [1] - The company posted revenues of $9.76 billion for the quarter ended December 2024, which fell short of the Zacks Consensus Estimate by 5.38% and decreased from $12 billion year-over-year [2] - World Kinect has underperformed the market, with shares down about 0.9% since the beginning of the year compared to the S&P 500's gain of 4.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.58 on revenues of $11.24 billion, and for the current fiscal year, it is $2.56 on revenues of $46.08 billion [7] - The estimate revisions trend for World Kinect is currently favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Alternative Energy - Other industry, to which World Kinect belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Q4 2024 Earnings Call February 20, 2025 www.world-kinect.com Copyright © 2025 World Kinect Corporation. All rights reserved. Disclaimer and Cautionary Note Regarding Forward-Looking Statements Certain statements, including comments about World Kinect Corporation's expectations regarding future plans, performance and acquisitions are forward-looking statements that are subject to a range of uncertainties and risks that could cause World Kinect's actual results to materially differ from the forward-looking in ...