Slide 1: Second Quarter 2022 Earnings Call
Second Quarter 2022 Earnings Call Thursday, July 28, 2022 Copyright 2018 World Fuel Services Corporation. All Rights Reserved.
Slide 2: Caution Concerning Forward Looking Statements
Caution Concerning Forward Looking Statements Certain statements made today, including comments about World Fuel's expectations regarding future plans, performance and acquisitions are forward-looking statements that are subject to a range of uncertainties and risks that could cause World Fuel's act
Slide 3: Business Overview
Business Overview Michael Kasbar Chairman and Chief Executive Officer Copyright 2019 World Fuel Services Corporation. All Rights Reserved. 3
Slide 4: Financial Overview
Financial Overview Ira Birns Executive Vice President and Chief Financial Officer Copyright 2019 World Fuel Services Corporation. All Rights Reserved. 4
Slide 5: Financial Overview
Financial Overview Consolidated revenue Consolidated volume Adjusted net income was was and earnings per share $17.1 billion 4.7 billion $25.8 were Adjusted EBITDA was gallons or gallon million and $76 million up up more than equivalents $0.41 per 31% year-over-year 140% year-over- up 20% year-over-
Slide 6: Volume by Segment
Volume by Segment Aviation Marine Land Aviation Volumes increased Marine Volumes increased Land Volumes increased 33% in Q2 2022 6% in Q2 2022 vs. 19% in Q2 2022 vs. Q2 2021 Q2 2021 vs. Q2 2021 1,831 1,532 4.9 4.6 1,288 1,374 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 (Gallons in millions) (Met
Slide 7: Gross Profit by Segment
Gross Profit by Segment ($ in millions) Aviation Marine Land Aviation Gross Profit decreased Marine Gross Profit increased Land Gross Profit increased 40% in Q2 2022 244% in Q2 2022 66% in Q2 2022 vs. Q2 2021 vs. Q2 2021 vs. Q2 2021 $88 $122 $53 $78 $74 $23 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2
Slide 8: Core Operating Expenses and Adjusted EBITDA
Core Operating Expenses Adjusted EBITDA ($ in millions) ($ in millions) Continued focus on expense management Best quarterly EBITDA performance since while activity increases the pandemic began Q3’22 Estimate: $198 - $204 $197 $187 $76 $58 Q1 2022 Q2 2022 Q3 2022E Q2 2021 Q2 2022 Core Operating Expe
Slide 9: Financial Overview
Financial Overview We have expanded size Repurchased 1.5 Generated cash flow from and maturity of our bank million shares of operations of $43 facilities and increased common stock in Q2 and million capacity of trade finance facilities 2.0 million shares YTD Copyright 2019 World Fuel Services Corpor
Slide 10: Questions + Answers
Questions + Answers Copyright 2019 World Fuel Services Corporation. All Rights Reserved. 10
Slide 11: Earnings Reconciliation (Three Months)
Earnings Reconciliation ($ in millions except per share data) For the Three Months Ended June 30, 2021 For the Three Months Ended June 30, 2022 As Reported Adjustments1 As Adjusted As Reported Adjustments1 As Adjusted Aviation Gross Profit $87.4 $0.8 $88.2 $52.8 $0.0 $52.8 Operating Expenses 53.3 (0
Slide 12: Earnings Reconciliation (Six Months)
Earnings Reconciliation ($ in millions except per share data) For the Six Months Ended June 30, 2021 For the Six Months Ended June 30, 2022 As Reported Adjustments1 As Adjusted As Reported Adjustments1 As Adjusted Aviation Gross Profit $164.1 $0.8 $164.9 $117.0 $0.0 $117.0 Operating Expenses 107.0 (