WORLD FUEL SERVICES CORP Stock Price, News & Analysis

World Fuel Services Corporation (NYSE:INT) has declared a quarterly cash dividend of $0.12 per share, set to be paid on January 7, 2022. Shareholders of record by December 17, 2021 will be eligible to receive this dividend. The company, headquartered in Miami, Florida, provides energy procurement advisory services and supply solutions across various industries, including aviation and marine, operating at over 8,000 locations worldwide.

Corsair has announced that its portfolio company, TreviPay, has successfully closed its first global receivables securitization, shifting from $175 million in on-balance sheet loans to a $230 million off-balance sheet securitization. Additionally, TreviPay has sold its Multi Service Fuel Card business to Shell Oil Company. Corsair, which acquired TreviPay in September 2020, aims to drive the firm's growth in the B2B payments sector, emphasizing its commitment to long-term success.

World Fuel Services reported its third-quarter 2021 results with a total gross profit of $197.5 million, an 8% decrease year-over-year. GAAP net income was $21.7 million ($0.34 per diluted share), while adjusted net income stood at $22.7 million ($0.36 per diluted share). The aviation segment thrived with a gross profit of $113 million, a 16% year-over-year increase, while marine and land segments faced declines of 32% and 26%, respectively. Despite challenges, cash flow from operations reached $83 million for the quarter, supporting the acquisition of Flyers Energy.

World Fuel Services Corporation (NYSE: INT) has announced a definitive agreement to acquire Flyers Energy Group for approximately $775 million. The deal involves an upfront payment of $675 million and $100 million in installments over two years. This acquisition aims to enhance operational efficiency and drive growth within its North American Land platform, leveraging Flyers’ network of fueling locations. The transaction is expected to close within 60 to 90 days, subject to regulatory approvals.

World Fuel Services (NYSE:INT) will hold a conference call on October 28, 2021, at 5:00 PM ET to discuss its third quarter results. The earnings report will be released after market close on the same day. Interested participants may join the call via telephone or through a live webcast on the company's website. An audio replay will be accessible until November 4, 2021. World Fuel Services is a global energy management company serving clients in aviation, marine, and land transportation, with operations in over 200 countries.

World Fuel Services Corporation (NYSE:INT) declared a quarterly cash dividend of $0.12 per share, payable on October 8, 2021 to shareholders on record as of September 17, 2021. The company, headquartered in Miami, Florida, specializes in energy procurement advisory services and operates globally, serving clients in more than 200 countries. World Fuel Services is involved in the aviation, marine, and land transportation sectors, selling fuel and delivering comprehensive energy management solutions.

World Fuel Services Corporation (NYSE: INT) has appointed Jill B. Smart to its Board of Directors. With over 33 years of experience at Accenture, where she served as the Chief Human Resources Officer, Jill brings extensive expertise in human capital management and organizational transformation. Her addition is expected to enhance the company's strategic growth objectives. Smart is also involved with the National Academy of Human Resources and serves on the board of EPAM Systems, Inc. (NYSE: EPAM). She will participate in the Compensation and Governance committees.

World Fuel Services Corporation (NYSE: INT) reported a total gross profit of $183.9 million for Q2 2021, down 14% year-over-year. GAAP net income stood at $17.6 million, or $0.28 per diluted share, while adjusted net income was $25.0 million, or $0.39 per diluted share. The aviation segment saw gross profit of $87.4 million (-5%), marine at $22.7 million (-39%), and land at $73.8 million (-13%). Despite declines, the company anticipates improved demand as economic activity recovers post-COVID-19.

World Fuel Services Corporation (NYSE:INT) will hold a conference call on July 29, 2021, at 5:00 PM ET, to discuss its second-quarter results. The financial results will be released after market close on the same day. Investors can join the call by phone or via webcast on the company's website. An archive of the call will be available for replay until August 5, 2021. World Fuel Services provides energy management solutions globally, serving clients in aviation, marine, and land transportation across over 8,000 locations in more than 200 countries.