I'm LongbridgeAI, I can summarize articles.World Kinect (WKC) will report Q2 earnings after market close on Thursday. Last quarter, the company beat revenue, EPS, and EBITDA estimates despite a production volume decline. For the current quarter, analysts expect 17.7% year-over-year revenue growth. Peer companies like Halliburton and Range Resources have recently reported positive results, contributing to positive sentiment in the upstream & integrated segment. WKC shares are up 15.1% over the last month, trading above the average analyst price target of $30.
Energy management company World Kinect will be announcing earnings results this Thursday after the bell. Here’s what investors should know.
World Kinect beat analysts’ revenue expectations last quarter, reporting revenues of $9.69 billion, up 2.5% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates. It reported a year-on-year production volumes decline of 4.2%.
Is World Kinect a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting World Kinect’s revenue to grow 17.7% year on year, a reversal from the 17.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at World Kinect’s peers in the upstream & integrated segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Halliburton delivered year-on-year revenue growth of 3.7%, beating analysts’ expectations by 3.6%, and Range Resources reported revenues up 5.4%, topping estimates by 1.7%.
Read our full analysis of Halliburton’s results here and Range Resources’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 2.9% on average over the last month. World Kinect is up 15.1% during the same time and is heading into earnings with an average analyst price target of $30 (compared to the current share price of $36.46).
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