Why World Fuel Services Stock Is Surging Today [The Motley Fool]
World Fuel Services Corporation (INT)
Last world fuel services corporation earnings: 4/30 04:21 pm
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ir.wfscorp.com
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Source: The Motley Fool
Why World Fuel Services Stock Is Surging Today The energy management company provided investors with some pleasing news. Shares of World Fuel Services ( NYSE:INT ) rallied more than 10% by 3 p.m. EDT on Friday. Fueling the energy management company's stock was its second-quarter results. World Fuel Services hauled in $38.8 million, or $0.58 per share, of adjusted net income during the second quarter. That's an increase from the $0.47 per share it produced in the year-ago period and was $0.04 per share ahead of analysts' consensus estimate. The fuel services company was able to overcome a 13% year-over-year decline in the sale of bunker fuels to deliver a 20% improvement in gross profit in its marine segment. That's due to better performance in its core resale operations because of its focus on cost management. The company's aviation segment also performed well, as its gross profit increased 10% year over year thanks to strength in its core commercial and government-related activities
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