World Fuel Services Beats on Both Top and Bottom Lines
World Fuel Services (NYS: INT) reported earnings on July 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), World Fuel Services beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded. GAAP earnings per share grew.
Gross margins were steady, operating margins shrank, net margins were steady.
World Fuel Services booked revenue of $10.48 billion. The five analysts polled by S&P Capital IQ foresaw sales of $10.24 billion on the same basis. GAAP reported sales were 8.9% higher than the prior-year quarter's $9.62 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.80. The three earnings estimates compiled by S&P Capital IQ predicted $0.68 per share. Non-GAAP EPS of $0.80 for Q2 were 8.1% higher than the prior-year quarter's $0.74 per share. GAAP EPS of $0.71 for Q2 were 4.4% higher than the prior-year quarter's $0.68 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 1.8%, much about the same as the prior-year quarter. Operating margin was 0.7%, 10 basis points worse than the prior-year quarter. Net margin was 0.5%, much about the same as the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $10.78 billion. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $42.16 billion. The average EPS estimate is $2.84.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 310 members out of 325 rating the stock outperform, and 15 members rating it underperform. Among 72 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give World Fuel Services a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on World Fuel Services is hold, with an average price target of $44.25.
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The article World Fuel Services Beats on Both Top and Bottom Lines originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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