Overview

* World Kinect Corp ( WKC ) Q3 revenue beats analyst expectations, adjusted EPS misses estimates

* Aviation segment gross profit rises 11%, driven by European airport operations

* Land and Marine segments face declines due to unfavorable market conditions

Outlook

* Company focuses on strengthening Aviation segment with acquisition of Universal Trip Support

* Company remains focused on optimizing portfolio amid market pressures in Land and Marine

* World Kinect ( WKC ) highlights strong cash flow and solid results in Aviation segment

Result Drivers

* AVIATION GROWTH - Aviation segment gross profit increased by 11% due to higher contributions from European airport operations and government sales

* LAND SEGMENT DECLINE - Land segment gross profit decreased by 20% due to unfavorable market conditions and divestitures

* MARINE SEGMENT DECLINE - Marine segment gross profit fell by 32% due to lower bunker fuel prices and reduced market volatility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $9.39 $9.37

Revenue bln bln (2

Analysts

)

Q3 Miss $0.54 $0.60 (3

Adjusted Analysts

EPS )

Q3 EPS $0.46

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", no "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

* Wall Street's median 12-month price target for World Kinect Corp ( WKC ) is $27.00, about 5.5% above its October 21 closing price of $25.51

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)