World Fuel Services Corp (INT) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.77 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.75. The company posted revenue of $5192.60 million in the period, compared to analysts expectations of $6701.62 million. The company’s revenue was down -29.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.
Many Wall Street Analysts have commented on World Fuel Services Corp. World Fuel Services Corp was Downgraded by Credit Suisse to ” Neutral” on Apr 29, 2016. World Fuel Services Corp was Upgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016.
World Fuel Services Corp opened for trading at $48.66 and hit $49.74 on the upside on Wednesday, eventually ending the session at $49.51, with a gain of 2.23% or 1.08 points. The heightened volatility saw the trading volume jump to 8,11,861 shares. Company has a market cap of $3,505 M.
In a different news, on Feb 18, 2016, Ira M Birns (Executive VP & CFO) sold 3,379 shares at $42.93 per share price. According to the SEC, on Nov 4, 2015, Ken Bakshi (director) sold 3,295 shares at $44.45 per share price. On May 7, 2015, J Thomas Presby (director) sold 12,066 shares at $52.12 per share price, according to the Form-4 filing with the securities and exchange commission.
World Fuel Services Corporation is a fuel logistics transaction management and payment processing company. The Company is engaged in the distribution of fuel and related products and services in the aviation marine and land transportation industries. It operates in three segments: aviation marine and land. The aviation segment offers fuel and related services to commercial airlines second and third-tier airlines cargo carriers regional and low cost carriers airports fixed-based operators corporate fleets fractional operators private aircraft military fleets and to the United States and foreign Governments. The marine segment offers fuel lubricants and related products and services to a base of marine customers including international container and tanker fleets commercial cruise lines yachts and time-charter operators the United States and foreign Governments. The land segment offers fuel lubricants and related products and services to petroleum distributors.