World Fuel Services (INT)

Risks

• We extend credit to most of our customers in connection with their purchase of fuel and services from us, and our financial condition, results of operations and cash flows will be adversely affected if we are unable to collect accounts receivable.
• Changes in the market price of fuel may have a material adverse effect on our business.
• Adverse conditions or events affecting the aviation, marine and land transportation industries may have a material adverse effect on our business.
• Our physical operations have inherent risks that could negatively impact our business, financial condition and results of operations.
• If we fail to provide products or services to our customers as agreed, it could adversely affect our business.
• We may be unable to successfully integrate our acquisitions or fully realize the anticipated benefits of our acquisitions and other strategic investments.
• Information technology ("IT") failures and data security breaches, including as a result of cybersecurity attacks, could negatively impact our results of operations and financial condition, subject us to increased operating costs, and expose us to litigation.
• Sales to government customers involve unique risks that could have a material adverse effect on our business and results of operations.
• Economic, political and other risks associated with international sales and operations could adversely affect our business and future operating results.
• Our business is subject to seasonal variability, which has caused our revenues and operating results to fluctuate and can adversely affect the market price of our shares.
• A material impairment of our goodwill or intangible assets could reduce our earnings or adversely impact our results of operations.
• We face intense competition and, if we are not able to effectively compete in our markets, our revenues and profits may decrease.
• Climate change and the market and regulatory responses relating to GHG emissions could have a significant impact on our business operations and financial results.
• Changes in U.S. or foreign tax laws or adverse outcomes from governmental challenges to our tax position could adversely affect our business and future operating results.
• Our business is subject to extensive laws and regulations, including environmental protection, health and safety, that can result in material costs and liabilities.
• The data that we collect may be vulnerable to breach, loss or misuse, and our handling of such data may be impacted by changes in data privacy and protection laws and regulations, which could increase operational costs or result in regulatory penalties or litigation.
• Our international operations subject us to several international trade control, anti-money laundering and anti-corruption laws that can impose substantial compliance costs and expose us to civil and/or criminal penalties.
• The COVID-19 pandemic and related global economic impacts have had, and are likely going to continue to have, certain adverse effects on our business, results of operations and financial condition.
• Our business depends on our ability to adequately finance our capital requirements and fund our investments, which, if not available to us, would impact our ability to conduct our operations.
• Our derivative transactions with customers, suppliers, merchants and financial institutions expose us to price and credit risks, which could have a material adverse effect on our business.
• We are exposed to various risks in connection with our use of derivatives, which could have a material adverse effect on our results of operations.