Overview

* World Kinect ( WKC ) Q2 revenue misses analyst expectations, per LSEG data

* Adjusted EPS for Q2 beats analyst estimates, per LSEG data

* Co repurchased $35 mln of common stock and completed UK land fuels sale

Outlook

* Company continues reshaping land business for medium-term performance

* World Kinect ( WKC ) focuses on optimizing finance and accounting operations

* Company committed to building a more focused and efficient operating model

Result Drivers

* AVIATION SEGMENT - Gross profit increased by 8% due to higher contributions from operated airport locations in Europe and business aviation activities

* LAND SEGMENT - Gross profit decreased by 17% due to the sale of the U.K. land business and exit from certain North American operations

* MARINE SEGMENT - Gross profit decreased by 26% due to an unfavorable tax settlement and weaker performance at certain inventory locations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $9.04 $9.32

Revenue bln bln (2

Analysts

)

Q2 Beat $0.59 $0.48 (3

Adjusted Analysts

EPS )

Q2 EPS -$6.06

Q2 Gross $232 mln

Profit

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 $32.00, about 13.5% above its July 30 closing price of $27.67

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

(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.)