World Kinect Corporation (NYSE:WKC) Q1 2024 Earnings Conference Call April 25, 2024 5:00 PM ET

Company Participants

Elsa Ballard - VP, IR and Communication
Michael Kasbar - Chairman and CEO
Ira Birns - EVP and CFO

Conference Call Participants

Ken Hoexter - Bank of America
Pavel Molchanov - Raymond James

Operator

Goo day and thank you for standing by. Welcome to World Kinect Corporation First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Elsa Ballard, Vice President of Investor Relations and Communication. Please go ahead.

Elsa Ballard

Good evening everyone and welcome to the World Kinect’s first quarter 2024 earnings conference call, which will be presented alongside our live slide presentation. Today’s presentation is also available via webcast on our Investor Relations' website.

I'm Elsa Ballard, VP of Investor Relations and Communications. With me on the call today is Michael Kasbar, Chairman and Chief Executive Officer; and Ira Birns, Executive Vice President and Chief Financial Officer.

Before I get started, I'd like to review our Safe Harbor statement. Certain statements made today, including comments about our expectations regarding future plans and performance, are forward-looking statements that are subject to a range of uncertainties and risk that could cause results to materially differ.

Factors that could cause results to materially differ can be found in our most recent Form 10-K and other reports filed with the Securities and Exchange Commission. We assumes no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events.

This presentation also includes certain non-GAAP measures. A reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure is included in our press release and can be found on our website. We will begin with several minutes of prepared remarks, which will then be followed by a Q&A period.

At this time, I would like to introduce our Chairman and Chief Executive Officer, Michael Kasbar.

Michael Kasbar

Thank you, Elsa and good evening everyone. Given that we just spoke several weeks ago at our Investor Day, I'm going to keep my remarks brief.

We had some ups and downs in the first quarter from a profitability standpoint, we also generated very strong cash flow. I will give more color on this in a few minutes. But in the meantime, I'd like to give a high level update on the focus paths we are on today building a more readable and leverageable business model.