Stock Alert: World Fuel Services Stock Up 10% In Late Trade On Upbeat Q1

Shares of World Fuel Services Corp. (INT) rose 9.56% to $27.39 in the after-hours trading session on Thursday, following the company's upbeat Q1 results.

The company reported Q1 net income of $41.4 million or $0.63 per share compared to $37.2 million or $0.55 per share last year.

Adjusted net income was $43.6 million or $0.67 per share versus $38.9 million or $0.58 per share in the prior year period.

Revenue for the quarter declined to $8.02 billion from $8.68 billion generated a year ago.

Analysts polled by Thomson Reuters estimate earnings of $0.40 per share and revenue of $7.71 billion for fiscal 2020. Analysts' estimate typically exclude certain special items.

"We posted solid results in the first quarter of the year despite the impact of the pandemic in the latter part of the quarter," said Ira Birns, executive vice president and chief financial officer.

The stock has been trading in the range of $20.49 - $44.37 for the past one year, and closed Thursday's trade at $25.00, down 61 cents or 2.38%. INT gained $2.39 or 9.56% in the after-hours trading session. Trading volume increased to 880K versus an average volume of 688K shares.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Biotech Investor.
Follow RTT