World Fuel Services Q1 Profit Decreases, but beats estimates

(RTTNews) - World Fuel Services (INT) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $22.8 million, or $0.36 per share. This compares with $26.3 million, or $0.41 per share, in last year's first quarter.

Excluding items, World Fuel Services reported adjusted earnings of $22.8 million or $0.36 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $12.48 billion from $12.38 billion last year.

World Fuel Services earnings at a glance (GAAP) :

-Earnings (Q1): $22.8 Mln. vs. $26.3 Mln. last year. -EPS (Q1): $0.36 vs. $0.41 last year. -Analyst Estimates: $0.35 -Revenue (Q1): $12.48 Bln vs. $12.38 Bln last year.