Financial Data and Key Metrics Changes - Total volumes for Q4 2023 were 4.5 billion, essentially flat year-over-year [31] - Adjusted gross profit for Q4 2023 was $280 million, down 1% from Q4 2022, primarily due to lower profits in marine and land businesses [31] - For the full year, total volume was 18 billion, down approximately 2%, while adjusted gross profit increased by 2% to $1.1 billion, driven by a 36% increase in aviation profitability [32] Business Line Data and Key Metrics Changes - Aviation volumes in Q4 2023 were 1.78 billion gallons, down 1% year-over-year, but gross profit increased by 19% to $131 million due to higher returns [33][34] - Land business volumes increased by 5% year-over-year to 1.62 billion in Q4, but adjusted gross profit declined by 9% to $105 million due to margin pressure [38] - Marine volumes in Q4 2023 were 4.3 million metric tons, down 8.5% year-over-year, with gross profit declining by 21% to $44 million [43] Market Data and Key Metrics Changes - The percentage of land volume associated with natural gas and power business was 37% for Q4 2023, up from 32% in 2022 [41] - The marine business experienced a 12% decline in volume for the full year, with gross profit down 33% year-over-year [44] Company Strategy and Development Direction - The company is focused on increasing market share and improving operating efficiency while extending value deeper into customer and supplier value chains [21][22] - The strategy aligns with customer needs for both conventional energy and energy management solutions, emphasizing sustainability and renewable energy [12][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market challenges and emphasized a strong demand for services [22] - The company aims to achieve a medium-term operating margin target of 30% by driving cost efficiencies and simplifying business activities [48] Other Important Information - The company generated $5 million in operating cash flow for Q4 2023, bringing the year-to-date total to $271 million [52] - Total non-recurring cash outflows related to adjustments in Q4 were approximately $50 million [30] Q&A Session Summary Question: What is the realistic path to achieving a 30% margin? - Management indicated that achieving a 30% margin involves a combination of greater focus on high-return business activities and cost efficiencies [59][60] Question: Is the focus more on efficiency or growth? - Management stated that both efficiency and growth are priorities, with a particular emphasis on enhancing the land and sustainability businesses as growth engines [62][63] Question: Are there any financial outcomes from current global disruptions? - Management noted that while there are opportunities from disruptions, they do not expect significant financial impacts, but the company can create value through solutions [65][66] Question: What is the margin picture for the sustainably linked land business? - Management indicated that the sustainably linked land business is still small but growing, with higher expected returns over time as it scales [69][70] Question: What was the low carbon percentage of EBITDA in Q4? - The low carbon percentage of EBITDA was around 14% for Q4, with expectations to remain in double digits for 2024 [86][87] Question: Is there a higher margin profile for renewable diesel compared to petroleum? - Management confirmed that renewable diesel can have a higher margin profile due to its limited supply and varying demand [88][89]

c o r p . w o r l d k i n e c t . c o m Q4 2023 Earnings Call February 22, 2024 Copyright © 2024 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 ...

Exhibit 99.1 World Kinect Corporation Reports Fourth Quarter and Full Year 2023 Results MIAMI—February 22, 2024—World Kinect Corporation (NYSE: WKC) today reported financial results for the fourth quarter and full year 2023. Results compared to the same period last year are as follows (unaudited - in millions, except percentages and per share data): | | | | | Three Months Ended December 31, | | | | | Year Ended December 31, | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2023 | ...

World Kinect Corporation (NYSE:WKC) Q3 2023 Earnings Conference Call October 26, 2023 5:00 PM ET Company Participants Michael Kasbar - Chairman, Chief Executive Officer Ira Birns - Executive Vice President, Chief Financial Officer Elsa Ballard - Vice President of Investor Relations Conference Call Participants Pavel Molchanov - Raymond James Ken Hoexter - Bank of America Ben Nolan - Stifel Operator Thank you for standing by, and welcome to the World Kinect Corporation Third Quarter 2023 Earnings Conference ...

corp.worldkinect.com Q3 2023 Earnings Call October 26, 2023 Copyright © 2023 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 inf ...

Financial Performance - Consolidated revenue for Q3 2023 was $12.2 billion, a decrease of $3.4 billion, or 22%, compared to Q3 2022, primarily due to lower fuel prices and reduced volumes in the marine segment[101]. - Gross profit for Q3 2023 was $281.4 million, a decrease of $40.9 million, or 13%, compared to Q3 2022, driven by declines in the marine and aviation segments[102]. - Total operating expenses for Q3 2023 were $208.2 million, a decrease of $13.9 million, or 6%, compared to Q3 2022, mainly due to lower compensation and general administrative costs[103]. - Net income attributable to World Kinect for Q3 2023 was $34.9 million, down from $42.5 million in Q3 2022[100]. - Basic earnings per share for Q3 2023 were $0.58, compared to $0.69 in Q3 2022[100]. - For the nine months ended September 30, 2023, consolidated revenue was $35,707.6 million, a decrease of $9,457.8 million or 21% compared to the same period in 2022[117]. - The gross profit for the nine months ended September 30, 2023 was $825.8 million, an increase of $19.1 million or 2% compared to the same period in 2022[118]. Segment Performance - The aviation segment experienced growth in fuel and related services, supported by enhanced logistics capabilities and geographic expansion[91]. - For the three months ended September 30, 2023, the aviation segment revenue was $5,983.5 million, a decrease of $1,278.4 million or 18% compared to the same period in 2022[106]. - The land segment is positioned for continued market share growth, leveraging capabilities from acquisitions like Flyers[92]. - The land segment revenue for the three months ended September 30, 2023 was $3,983.5 million, a decrease of $1,030.4 million or 21% compared to the same period in 2022[109]. - The marine segment's performance is expected to be materially lower in 2023 compared to the exceptional results in 2022 due to lower global oil prices[94]. - The marine segment revenue for the three months ended September 30, 2023 was $2,278.2 million, a decrease of $1,107.2 million or 33% compared to the same period in 2022[113]. - The aviation segment gross profit for the nine months ended September 30, 2023 was $354.4 million, an increase of $107.8 million or 44% compared to the same period in 2022[123]. - Land segment revenue for the nine months ended September 30, 2023, was $11.5 billion, a decrease of $3.3 billion, or 22%, compared to the same period in 2022, primarily due to lower average fuel prices[125]. - Marine segment revenue for the nine months ended September 30, 2023, was $6.8 billion, a decrease of $3.4 billion, or 34%, compared to the same period in 2022[128]. Cost and Pricing - Inflation has significantly increased costs in 2022 and 2023, driven by supply chain disruptions and labor shortages[95]. - The average jet fuel price per gallon sold in the aviation segment decreased by 22% to $2.91 for the three months ended September 30, 2023[106]. - The average fuel price in the land segment decreased by 22% to $2.58 per gallon for the three months ended September 30, 2023[109]. - The average price per metric ton of bunker fuel in the marine segment decreased by 20% to $562.18 for the three months ended September 30, 2023[113]. Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2023, was $266.8 million, an increase of $37.5 million compared to the same period in 2022[143]. - Net cash used in investing activities for the nine months ended September 30, 2023, was $77.4 million, a significant decrease from $699.2 million in the same period in 2022[144]. - Net cash used in financing activities for the nine months ended September 30, 2023, was $140.4 million, compared to net cash provided of $115.0 million in the same period in 2022[145]. - The company issued $350.0 million in Convertible Senior Notes due 2028, with an initial conversion price of approximately $28.43 per share[134]. - The company believes that its cash and cash equivalents, along with available funds from its Credit Facility, are sufficient to fund working capital and capital expenditure requirements for at least the next twelve months[133]. Asset Valuation and Risk Assessment - As of September 30, 2023, the company concluded that the carrying value of long-lived assets and equity investments were recoverable, with fair values not less than their respective carrying values[149]. - The company assessed that there have been no material changes to exposures to commodity price, interest rate, or foreign currency risk since December 31, 2022[151]. - Significant judgment is involved in assessing the fair value of contracts related to convertible notes, which may impact future earnings if classified as liabilities[150]. - The assumptions for impairment assessments were based on expected growth rates and profitability from both legacy and newly acquired businesses, considering current market volatility[148]. - The company has not identified any material changes to critical accounting estimates since the 2022 10-K report[147].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 ...

World Kinect Corporation (NYSE:WKC) Q2 2023 Results Conference Call July 27, 2023 5:00 PM ET Company Participants Elsa Ballard - Vice President of Investor Relations Michael Kasbar - Chairman and Chief Executive Officer Ira Birns - Executive Vice President and Chief Financial Officer Conference Call Participants Ben Nolan - Stifel Pavel Molchanov - Raymond James Ken Hoexter - Bank of America Operator Good day and thank you for standing by. Welcome to the World Kinect Corporation Second Quarter Earnings Conf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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 FUEL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Securities reg ...

Economic and Market Conditions - Significant inflation in the U.S. increased notably from late 2021 into 2022, driven by supply chain disruptions and higher commodity prices, which may adversely affect business results if costs rise faster than revenues [93]. - The company faces intense competition from both large multinational corporations and smaller specialized firms, which could lead to a loss of market share or reduced prices, negatively impacting revenues and profits [94]. - Increasing governmental incentives and consumer pressures to adopt alternative fuels may negatively impact pricing and demand for petroleum-based products, affecting profitability [100]. Legal and Regulatory Risks - Legal and regulatory risks related to climate change and GHG emissions could significantly impact business operations and financial results, with various proposals being adopted globally to limit emissions [97]. - The Inflation Reduction Act of 2022 imposes a fee on GHG emissions from certain facilities in the oil and natural gas sector, which could accelerate the transition away from fossil fuels and adversely affect business operations [99]. - The company is subject to extensive laws and regulations, including environmental protection and health and safety, which can result in significant costs and liabilities [112]. - Compliance with existing and future environmental laws may require substantial capital expenditures and increase operating costs, potentially reducing demand for products and services [113]. - The company is subject to various data privacy laws, including the California Consumer Privacy Act, which may lead to significant compliance costs and potential financial penalties for noncompliance [116]. - International operations expose the company to anti-corruption laws and trade control regulations, increasing the risk of substantial fines and penalties [118]. - The company has established policies to comply with laws and regulations, but violations could result in severe penalties, including asset seizures and loss of government contracts [122]. Operational Impact and Risks - The COVID-19 pandemic has impacted operations, but business activities have normalized to near pre-pandemic levels, with ongoing monitoring for future disruptions [124]. - The handling of sensitive data may be vulnerable to breaches, and changes in data privacy laws could increase operational costs or result in regulatory penalties [114]. - The evolving nature of privacy laws, such as the EU's General Data Protection Regulation, may require costly changes to IT systems to ensure compliance [115]. Financial Instruments and Derivative Transactions - The company engages in derivative transactions to manage price risks associated with energy products, exposing it to potential losses if counterparties default [126]. - As of December 31, 2022, the total notional value of commodity derivative contracts was $(154.1) million, with a fair market value of $19.6 million [218]. - The company uses forward and swap contracts to hedge foreign currency exchange risks, with no material impact expected from a hypothetical 10% change in exchange rates [219]. - The company’s derivative transactions are not always designated as hedges for accounting purposes, leading to fluctuations in earnings based on market value changes [133]. - As of December 31, 2022, the total fair value of foreign currency exchange derivative contracts was a net liability of $14.1 million, compared to a net asset of $0.4 million in 2021 [221]. Debt and Interest Rate Management - The company had $339.0 million in outstanding borrowings under its Credit Facility and a $488.4 million Term Loan as of December 31, 2022 [222]. - The interest rate swap agreement locks in a floating interest rate at 0.535% for a notional value of $300 million, with a fair value of $24.7 million as of December 31, 2022 [223]. - A fluctuation of 100 basis points in the interest rate would result in a $12.5 million change in interest expense over the next twelve months [224]. - The applicable margins for base rate loans and Eurodollar rate loans were 0.75% and 1.75%, respectively, as of December 31, 2022 [222]. - The aggregate outstanding balance of finance lease obligations was $15.4 million, with interest rates ranging from 1.0% to 5.9% [222]. Currency Positions - The company had a net long position in DKK of 410.3 million with a fair value amount of $3.8 million as of December 31, 2022 [221]. - The company reported a net short position in COP of 66,939.1 million with a fair value amount of $0.2 million [221]. - The weighted average contract price for AUD was 0.653, with a net short position of 17.9 million and a fair value amount of $(0.7) million [221]. - The company had a net short position in NOK of 1,808.7 million with a fair value amount of $(9.3) million as of December 31, 2022 [221].