Exhibit 99.1

Contact: Ira M. Birns, Executive Vice President & Chief Financial Officer Glenn Klevitz Vice President, Treasurer & Investor Relations 305-351-4763

World Fuel Services Corporation Reports First Quarter 2022 Results

MIAMI—April 28, 2022 -- World Fuel Services Corporation (NYSE: INT)

First-Quarter 2022 Highlights

•Total gross profit of $230.9 million, up 21% year-over-year

•GAAP net income of $26.3 million, or $0.41 per diluted share

•Adjusted net income of $26.8 million, or $0.42 per diluted share

•Adjusted EBITDA of $74.9 million

“Our financial performance this quarter again demonstrates the value of our diversified business model, where challenges in our aviation business were counterbalanced by strong results in our marine and land businesses,” stated Michael J. Kasbar, chairman and chief executive officer. “We remain focused on delivering best in class products and services to our customers worldwide, satisfying their current energy requirements and their growing need for sustainability-related products and services.”

For the first quarter, our aviation segment generated gross profit of $64.2 million, a decrease of 16% year-over-year, principally attributable to inventory losses driven by unprecedented market dynamics during the quarter and the reduction in our government-related activity in Afghanistan as a result of the military withdrawal which concluded during the third quarter of 2021, partially offset by increased volumes from the continued recovery in demand for air travel. Our marine segment generated gross profit of $47.0 million, an increase of 85% year-over-year, principally related to the impact of the rise in global oil prices and the resulting constrained credit environment. Our land segment generated gross profit of $119.8 million, an increase of 34% year-over-year, principally related to the recent acquisition of Flyers Energy, partially offset by the reduction in our government-related activity in Afghanistan as well as a decline in our natural gas activities relative to the exceptional results during the first quarter of 2021, which benefited from extreme weather conditions.

“The Flyers Energy business delivered very strong results in the first quarter since we closed the transaction contributing to a record level of quarterly gross profit in our Land segment and a strong overall result,” said Ira M. Birns, executive vice president and chief financial officer. “While higher fuel prices have driven increased working capital requirements across the business in the short-term, our balance sheet remains strong and we stand committed to disciplined capital allocation in support of organic growth and strategic opportunities that drive long-term value creation.”

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures (collectively, the “Non-GAAP Measures”), including adjusted net income attributable to World Fuel Services, adjusted diluted earnings per common share, and adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”). The Non-GAAP Measures exclude acquisition and divestiture related expenses, restructuring costs, impairments, gains or losses on the extinguishment of debt and gains or losses on business dispositions primarily because we do not believe they are reflective of our core operating results. In addition, beginning with the period ending March 31, 2022, the Non-GAAP Measures also exclude integration costs associated with our acquisitions. No changes to the comparable period were made as we did not incur integration costs in 2021.

We believe that the Non-GAAP Measures, when considered in conjunction with our financial information prepared in accordance with GAAP, are useful to investors to further aid in evaluating the ongoing financial performance of the Company and to provide greater transparency as supplemental information to our GAAP results.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In addition, our presentation of the Non-GAAP Measures may not be comparable to the presentation of such metrics by other companies. Adjusted diluted earnings per common share is computed by dividing adjusted net income attributable to World Fuel Services and available to common shareholders by the sum of the weighted average number of shares of common stock, stock units, restricted stock entitled to dividends not subject to forfeiture and vested restricted stock units outstanding during the period and the number of additional shares of common stock that would have been outstanding if our outstanding potentially dilutive securities had been issued. Investors are encouraged to review the reconciliation of these Non-GAAP Measures to their most directly comparable GAAP financial measures in this press release and on our website.

Information Relating to Forward-Looking Statements

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our beliefs and expectations about our ability to capitalize on our sustainability solutions and meet our customers' energy requirements, as well as our view of our balance sheet and capital allocation to support organic growth and strategic opportunities. These forward-looking statements are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission (“SEC”) filings, including the Company’s most recent Annual Report on Form 10-K filed with the SEC. Actual results may differ materially from any forward-looking statements due to risks and uncertainties, including, but not limited to: our ability to successfully implement our growth strategy and integrate acquired businesses and recognize the anticipated benefits, our ability to capitalize on new market opportunities, potential liabilities, limited indemnities and the extent of any insurance coverage, our ability to effectively manage the effects of the COVID-19 pandemic, the extent of the impact of the pandemic on ours and our customers' sales, profitability, operations and supply chains due to actions taken by governments and businesses to contain the virus, customer and counterparty creditworthiness and our ability to collect accounts receivable and settle derivative contracts, sudden changes in the market price of fuel or extremely high or low fuel prices that continue for an extended period of time, the availability of cash and sufficient liquidity to fund our working capital and strategic investment needs, any global economic impacts or other significant volatility that may arise from geopolitical events, wars and other civil unrest, adverse conditions in the markets or industries in which we or our customers and suppliers operate, such as the current global economic environment as a result of the coronavirus pandemic, our ability to manage the changes in supply and other market dynamics in the regions where we operate, our failure to comply with restrictions and covenants in our senior revolving credit facility and our senior term loans, including our financial covenants, our ability to successfully execute and achieve efficiencies, our ability to achieve the expected level of benefit from any restructuring activities and cost reduction initiatives, inflationary pressures and its impact on our customers or the global economy, unanticipated tax liabilities or adverse results of tax audits, assessments, or disputes, our ability to capitalize on new market opportunities, risks related to the complexity of the U.S. and foreign tax legislation and any subsequently issued regulations and our ability to accurately predict the impact on our effective tax rate and future earnings, our ability to effectively leverage technology and operating systems and realize the anticipated benefits, potential liabilities and the extent of any insurance coverage, actions that may be taken under the current administration in the U.S. that increase costs or otherwise negatively impact ours or our customers and suppliers businesses, the outcome of pending litigation and other proceedings, the impact of quarterly fluctuations in results, particularly as a result of seasonality, supply disruptions, border closures and other logistical difficulties that can arise when sourcing and delivering fuel in areas that are actively engaged in war or other military conflicts, our failure to effectively hedge certain financial risks associated with the use of derivatives, uninsured losses, the impact of climate change and natural disasters, adverse results in legal disputes, and other risks detailed from time to time in our SEC filings. In addition, other current or potential risks and uncertainties related to the coronavirus pandemic include, but are not limited to: notices from customers, suppliers and other third parties asserting force majeure or other bases for their non-performance, losses on hedging transactions with customers arising from the volatility in fuel prices, heightened risk of cybersecurity issues as digital technologies may become more vulnerable and experience a higher rate of cyber-attacks in a remote connectivity environment, reduction of our global workforce to adjust to market conditions, including increased costs associated with severance payments, retention issues, and an inability to hire employees when market conditions improve, the impact of asset impairments, including any impairment of the carrying value of our goodwill in our aviation and land segments, as well as other accounting charges if expected future demand for our products and services materially decreases, a structural shift in the global economy and its demand for fuel and related products and services as a result of changes in the way people work, travel and interact, or in connection with a global recession. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changes in expectations, future events, or otherwise, except as required by law.

About World Fuel Services Corporation

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services also offers natural gas and electricity, as well as energy advisory services, including programs for sustainability solutions and renewable energy alternatives. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.

For more information, visit www.wfscorp.com.

-- Some amounts in this press release may not add due to rounding. All percentages have been calculated using unrounded amounts --

WORLD FUEL SERVICES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

 (Unaudited - In millions, except per share data)

	March 31, 2022		December 31, 2021
Assets:
Current assets:
Cash and cash equivalents	$	266.2	$	652.2
Accounts receivable, net of allowance for credit losses of $17.2 million and $26.1 million as of March 31, 2022 and December 31, 2021, respectively	3,510.2		2,355.3
Inventories	680.5		477.9
Prepaid expenses	59.3		59.2
Short-term derivative assets, net	293.8		169.2
Other current assets	215.3		305.9
Total current assets	5,025.3		4,019.7
Property and equipment, net	473.9		348.9
Goodwill	1,244.6		861.9
Identifiable intangible assets, net	369.5		189.1
Other non-current assets	854.7		522.8
Total assets	$	7,968.0	$	5,942.4
Liabilities:
Current liabilities:
Current maturities of long-term debt	$	15.0	$	30.6
Accounts payable	3,447.5		2,399.6
Short-term derivative liabilities, net	317.1		168.4
Customer deposits	234.9		205.5
Accrued expenses and other current liabilities	398.0		292.7
Total current liabilities	4,412.5		3,096.7
Long-term debt	869.1		478.1
Non-current income tax liabilities, net	208.4		213.9
Other long-term liabilities	532.5		236.8
Total liabilities	6,022.6		4,025.6
Equity:
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; 0.1 shares authorized, none issued	—		—
Common stock, $0.01 par value; 100.0 shares authorized, 63.0 and 61.7 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	0.6		0.6
Capital in excess of par value	206.7		168.1
Retained earnings	1,899.4		1,880.6
Accumulated other comprehensive income (loss)	(165.4)		(136.7)
Total World Fuel shareholders' equity	1,941.4		1,912.7
Noncontrolling interest	4.1		4.1
Total equity	1,945.5		1,916.8
Total liabilities and equity	$	7,968.0	$	5,942.4

WORLD FUEL SERVICES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

 (Unaudited – In millions, except per share data)

	For the Three Months Ended March 31,
	2022		2021
Revenue	$	12,459.4	$	5,957.9
Cost of revenue	12,228.4		5,766.3
Gross profit	230.9		191.6
Operating expenses:
Compensation and employee benefits	114.9		92.5
General and administrative	74.7		59.4
Restructuring charges	—		2.1
Total operating expenses	189.6		154.0
Income from operations	41.3		37.6
Non-operating income (expenses), net:
Interest expense and other financing costs, net	(14.3)		(8.7)
Other income (expense), net	5.7		(1.2)
Total non-operating income (expense), net	(8.7)		(10.0)
Income (loss) before income taxes	32.6		27.6
Provision for income taxes	6.4		8.8
Net income (loss) including noncontrolling interest	26.3		18.8
Net income (loss) attributable to noncontrolling interest	(0.1)		—
Net income (loss) attributable to World Fuel	$	26.3	$	18.9
Basic earnings (loss) per common share	$	0.42	$	0.30
Basic weighted average common shares	63.4		63.0
Diluted earnings (loss) per common share	$	0.41	$	0.30
Diluted weighted average common shares	63.7		63.6
Comprehensive income:
Net income (loss) including noncontrolling interest	$	26.3	$	18.8
Other comprehensive income (loss):
Foreign currency translation adjustments	(9.4)		(4.0)
Cash flow hedges, net of income tax expense (benefit) of ($7.0) and $5.6 for the three months ended March 31, 2022 and 2021, respectively	(19.3)		16.4
Total other comprehensive income (loss)	(28.7)		12.4
Comprehensive income (loss) including noncontrolling interest	(2.4)		31.2
Comprehensive income (loss) attributable to noncontrolling interest	(0.1)		—
Comprehensive income (loss) attributable to World Fuel	$	(2.3)	$	31.2

WORLD FUEL SERVICES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited - In millions)

	For the Three Months Ended March 31,
	2022		2021
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$	26.3	$	18.8
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization	27.2		19.8
Provision for credit losses	2.0		3.6
Share-based payment award compensation costs	3.7		8.7
Deferred income tax expense (benefit)	(4.0)		(6.8)
Foreign currency (gains) losses, net	(3.7)		(12.9)
Other	(16.9)		(5.5)
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(1,051.3)		(438.8)
Inventories	(140.6)		11.0
Prepaid expenses	3.1		(3.0)
Short-term derivative assets, net	(210.6)		77.3
Other current assets	72.3		69.3
Cash collateral with counterparties	56.3		(4.4)
Other non-current assets	(108.9)		(4.0)
Accounts payable	996.7		394.3
Customer deposits	31.5		(22.8)
Accrued expenses and other current liabilities	158.3		0.8
Non-current income tax, net and other long-term liabilities	86.6		(1.8)
Total adjustments	(98.3)		84.6
Net cash provided by (used in) operating activities	(72.0)		103.4
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(639.4)		—
Capital expenditures	(16.7)		(2.0)
Other investing activities, net	(1.3)		(0.6)
Net cash provided by (used in) investing activities	(657.3)		(2.7)
Cash flows from financing activities:
Borrowings of debt	1,745.8		0.2
Repayments of debt	(1,369.7)		(4.5)
Dividends paid on common stock	(7.4)		(6.1)
Repurchases of common stock	(13.7)		—
Other financing activities, net	(11.3)		(10.4)
Net cash provided by (used in) financing activities	343.7		(20.8)
Effect of exchange rate changes on cash and cash equivalents	(0.3)		(3.5)
Net increase (decrease) in cash and cash equivalents	(386.0)		76.5
Cash and cash equivalents, as of the beginning of the period	652.2		658.8
Cash and cash equivalents, as of the end of the period	$	266.2	$	735.3

WORLD FUEL SERVICES CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited - In millions, except per share data)

	For the Three Months Ended March 31,
Non-GAAP financial measures and reconciliation:	2022		2021
Net income (loss) attributable to World Fuel	$	26.3	$	18.9
Acquisition and divestiture related expenses	0.4		2.4
Integration costs	0.3		—
Restructuring charges	—		2.1
Income tax impacts	(0.2)		(2.7)
Adjusted net income (loss) attributable to World Fuel	$	26.8	$	20.7
Diluted earnings (loss) per common share	$	0.41	$	0.30
Acquisition and divestiture related expenses	0.01		0.04
Integration costs	—		—
Restructuring charges	—		0.03
Income tax impacts	—		(0.04)
Adjusted diluted earnings (loss) per common share	$	0.42	$	0.33

	For the Three Months Ended March 31,
Non-GAAP financial measures and reconciliation:	2022		2021
Net income (loss) including noncontrolling interest	$	26.3	$	18.8
Interest expense and other financing costs, net	14.3		8.7
Provision (benefit) for income taxes	6.4		8.8
Depreciation and amortization	27.2		19.8
Acquisition and divestiture related expenses	0.4		2.4
Integration costs	0.3		—
Restructuring charges	—		2.1
Adjusted EBITDA(1)	$	74.9	$	60.7

(1)The Company defines adjusted EBITDA as net income (loss) excluding the impact of interest, tax and depreciation and amortization, in addition to items that are considered to be non-operational and not representative of our core business, including those associated with acquisition and divestiture related expenses, integration costs, asset impairments, and restructuring charges. As the GAAP measure most comparable to Adjusted EBITDA is net income, the reconciliation was updated in the first quarter of 2022 to start with net income.

WORLD FUEL SERVICES CORPORATION

BUSINESS SEGMENTS INFORMATION

 (Unaudited - In millions)

	For the Three Months Ended March 31,
Revenue:	2022		2021
Aviation segment	$	5,010.5	$	2,095.0
Land segment	4,458.2		2,188.2
Marine segment	2,990.6		1,674.7
Total revenue	$	12,459.4	$	5,957.9
Gross profit:
Aviation segment	$	64.2	$	76.7
Land segment	119.8		89.5
Marine segment	47.0		25.4
Total gross profit	$	230.9	$	191.6
Income from operations:
Aviation segment	$	7.5	$	23.0
Land segment	33.4		32.8
Marine segment	23.1		6.4
Corporate overhead - unallocated	(22.8)		(24.5)
Total income from operations	$	41.3	$	37.6

SALES VOLUME SUPPLEMENTAL INFORMATION

 (Unaudited - In millions)

	For the Three Months Ended March 31,
Volume (Gallons):	2022	2021
Aviation Segment	1,655.4	1,143.4
Land Segment (1)	1,582.6	1,303.0
Marine Segment (2)	1,238.3	1,117.5
Consolidated Total	4,476.3	3,563.9

(1)Includes gallons and gallon equivalents of British Thermal Units (BTU) for our natural gas sales and Kilowatt Hours (kWh) for our World Kinect power business.

(2)Converted from metric tons to gallons at a rate of 264 gallons per metric ton. Marine segment metric tons were 4.7 and 4.2 for the three months ended March 31, 2022 and 2021, respectively.

CONTACT:

World Fuel Services Corporation

Ira M Birns, 305-428-8000

Executive Vice President & Chief Financial Officer

Glenn Klevitz, 305-428-8000

Vice President, Treasurer & Investor Relations