WORLD FUEL SERVICES CORP - INT STOCK NEWS

World Fuel Services reported its Fourth-Quarter 2021 results with a total gross profit of $215.2 million, marking a 30% year-over-year increase. The GAAP net income was $15.4 million, or $0.25 per diluted share, while adjusted net income reached $17.6 million, or $0.28 per diluted share. However, the full year revealed a 7% decline in gross profit to $788.2 million. Despite increased cash flow of $173 million and nearly $80 million returned to shareholders, segments showed mixed results with aviation up 10% but marine down 34%.

World Fuel Services Corporation (NYSE:INT) will host a conference call on February 24, 2022, at 5:00 PM Eastern Time, to discuss its fourth quarter and full year results. The announcement will occur after market close on the same day. Participants can join via telephone or through a live webcast available on the company’s website. Archived access to the webcast will be available for two weeks following the event. World Fuel Services specializes in energy management, providing services to clients in aviation, marine, and land transportation sectors globally.

World Fuel Services Corporation (NYSE: INT) has completed its acquisition of Flyers Energy Group, marking the largest deal in the company's history. This strategic acquisition enhances World Fuel's scale and geographic presence within the North American land segment. Flyers, based in Auburn, California, provides a range of services including transportation, fueling, and lubricants distribution, serving over 12,000 customers through the largest national network of cardlock locations in the U.S. The acquisition is anticipated to significantly boost earnings, cash flow, and return on capital.

World Fuel Services (NYSE: INT) announced the supply of Sustainable Aviation Fuel (SAF) to RAF Brize Norton, supporting the Autumn Royal Tour for the Prince of Wales and the Duchess of Cornwall. This initiative highlights World Fuel's commitment to sustainable energy, having delivered over 27 million gallons of SAF since 2015. The company collaborates with Neste, which produces SAF capable of reducing greenhouse gas emissions by up to 80% compared to fossil fuels. World Fuel aims to expand its renewable energy offerings, advocating for lower-carbon fuels to achieve net zero emissions in aviation.

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.