World Kinect marine fuels segment gross profit down 26.2% on year for Q1 2025

New York-listed global energy management company World Kinect Corporation on Thursday (24 April) recorded a 9.4% on year decrease in gross profit for the first quarter (Q1) of 2025.

The company posted gross profit of USD 230 million in Q1 2025, lower than gross profit of USD 254 million seen during Q1 2024.

Revenue for its combined aviation, land and marine segments in Q1 2025 was USD 9.45 billion, a 13.7 decrease from revenue of USD 10.95 billion in Q1 2025.

Specifically, the marine segment generated gross profit of USD 35.7 million in Q1 2025, a drop of 26.2% on year from USD 48.4 million in Q1 2024.

This was principally due to lower bunker fuel prices and further reduced volatility that had benefited prior year results, as well as reduced demand and lower margins in the company’s resale and physical businesses as a result of increasing market uncertainty.

In total, WFS sold 3.7 million metric tonnes (mt) of bunker fuel during Q1 2025, down by 14% from 4.3 million mt of marine fuels during the similar period of last year.

According to a slide deck of the latest results by World Kinect on Seeking Alpha, the company’s outlook for Q2 2025 is that gross profit for the marine segment is expected to be down modestly year-over-year, assuming continuing uncertainty in the global shipping markets.

Photo credit: Shaah Shahidh on Unsplash
Published: 28 April, 2025