World Fuel Services Corp (INT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.56. The company posted revenue of $6633.00 million in the period, compared to analysts expectations of $6352.99 million. The company’s revenue was down -21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 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 closed down -1.73 points or -3.63% at $45.94 with 9,96,377 shares getting traded on Thursday. Post opening the session at $47.26, the shares hit an intraday low of $45.25 and an intraday high of $48.09 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 12, 2016, Carlos M. Velazquez (SVP, Chief Accounting Officer) sold 4,500 shares at $45.26 per share price. According to the SEC, on May 12, 2016, John Peter Rau (EVP, Global Aviation & Marine) sold 1,000 shares at $45.21 per share price. On May 10, 2016, Michael J Kasbar (Chairman, CEO and President) sold 31,073 shares at $46.53 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.