World Fuel Services (INT) Tops Q1 EPS by 17c, Revenues Miss

World Fuel Services (NYSE: INT) reported Q1 EPS of $0.66, $0.17 better than the analyst estimate of $0.49. Revenue for the quarter came in at $8.68 billion versus the consensus estimate of $9.98 billion.

• Total gross profit of $251.1 million, up 3% year-over-year
• GAAP net income of $42.8 million, or $0.64 per diluted share
• Adjusted net income of $44.5 million, or $0.66 per diluted share
• Adjusted EBITDA of $94.8 million, up 17% year-over-year

“We are pleased to announce a solid start to the year with all three segments delivering strong results,” stated Michael J. Kasbar, Chairman and Chief Executive Officer of World Fuel Services Corporation. “The actions we took during the past year are driving improvements in operating leverage and profitability.”

“We have now delivered year-over-year increases in our adjusted EBITDA for eight consecutive quarters,” said Ira M. Birns, executive vice president and chief financial officer. “This demonstrates the significant progress we have made in sharpening our portfolio and controlling costs to drive enhanced returns.”

For earnings history and earnings-related data on World Fuel Services (INT) click here.

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