World Kinect Corp posted its highest quarterly adjusted earnings per share in company history at $1.29, driven by record gross profits in its aviation and marine segments. Aviation gross profit rose 51% year-over-year to $208 million, while marine gross profit nearly tripled to $80 million, both all-time quarterly records for their respective segments. Consolidated gross profit increased 50% to $350 million, also a quarterly record. The company raised its full-year adjusted EPS guidance to a range of $3.20 to $3.40 per share, up from the prior range of $2.65 to $2.85, and announced a 15% increase in its quarterly dividend alongside approximately $14 million in share repurchases during the quarter.
World Kinect CorporationRecord quarterly adjusted EPS of $1.29, raised full-year guidance, increased dividend, and share repurchases.