Last $54.94 USD
Change Today +0.01 / 0.02%
Volume 299.7K
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As of 8:04 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

world fuel services corp (INT) Key Developments

World Fuel Services Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Tax Rate Guidance for the Year 2015

World Fuel Services Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue was $9,779,555,000 compared to $10,404,653,000 for the same period a year ago. Income from operations was $70,929,000 compared to $64,478,000 for the same period a year ago. Income before income taxes was $83,237,000 compared to $60,810,000 for the same period a year ago. Net income attributable to the company was $67,134,000 or $0.94 per diluted share compared to $51,862,000 or $0.73 per diluted share for the same period a year ago. Net cash provided by operating activities was $12,095,000 compared to $50,555,000 for the same period a year ago. Capital expenditures were $13,051,000 compared to $32,430,000 for the same period a year ago. Non-GAAP net income attributable to the company was $68,142,000 or $0.96 per diluted share compared to $60,135,000 or $0.85 per diluted share for the same period a year ago. For the full year, the company reported revenue was $43,386,389,000 compared to $41,561,947,000 for the same period a year ago. Income from operations was $269,148,000 compared to $264,358,000 for the same period a year ago. Income before income taxes was $269,551,000 compared to $246,665,000 for the same period a year ago. Net income attributable to the company was $221,747,000 or $3.11 per diluted share compared to $203,075,000 or $2.83 per diluted share for the same period a year ago. Net cash provided by operating activities was $141,160,000 compared to $264,302,000 for the same period a year ago. Capital expenditures were $50,153,000 compared to $82,716,000 for the same period a year ago. Non-GAAP net income attributable to the company was $249,099,000 or $3.49 per diluted share compared to $230,527,000 or $3.22 per diluted share for the same period a year ago. The company had more than $300 million of cash at year end, and net debt was under $400 million. For the full year, excluding the one-time gain and all one-time expenses, diluted earnings per share was $3.04, an increase of; 6% year-over-year. EBITDA, excluding the gain on the sale of the joint ventures and other one-time expenses, was $348 million, up $43 million or 14% compared to 2013. The company estimated effective tax rate for the full year of 2015 should be between 17% and 20%.

World Fuel Services Corporation Enters into Amendment No. 1 to the Fourth Amended and Restated Credit Agreement

On January 30, 2015, World Fuel Services Corporation entered into Amendment No. 1 to the Fourth Amended and Restated Credit Agreement and Joinder Agreement by and among the Company and certain of its subsidiaries, as borrowers, Bank of America, N.A., as administrative agent, and the financial institutions named therein as lenders. The Amendment amended certain terms and conditions of the Company's Fourth Amended and Restated Credit Agreement, dated as of October 10, 2013, including to: (i) increase the size of the revolving credit facility to approximately $1.26 billion (which may be increased by up to an additional $150 million); (ii) add a new $100 million term loan facility, thereby increasing the aggregate outstanding term loans to approximately $340 million; and (iii) modify certain financial and other covenants to provide greater operating flexibility.

World Fuel Services Corp. to Report Q4, 2014 Results on Feb 12, 2015

World Fuel Services Corp. announced that they will report Q4, 2014 results at 5:00 PM, US Eastern Standard Time on Feb 12, 2015

World Fuel Services Corp., Q4 2014 Earnings Call, Feb 12, 2015

World Fuel Services Corp., Q4 2014 Earnings Call, Feb 12, 2015

World Fuel Services Corporation Appoints Jorge L. Benitez to its Board of Directors

World Fuel Services Corporation announced that it has appointed Jorge L. Benitez to the Board of Directors of the company. Benitez retired from Accenture in August 2014 after more than 33 years of service, the last three years of which Mr. Benitez served as Chief Executive of North America, where he had primary responsibility for Accenture's business and operations in North America.

 

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Price/Book 2.1x
Price/Cash Flow 17.9x
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