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World Fuel Services (INT)

Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.

Company profile

Ticker
INT
Exchange
Website
CEO
Michael Kasbar
Employees
Incorporated
Location
Fiscal year end
Former names
INTERNATIONAL RECOVERY CORP
SEC CIK
Subsidiaries
Advance Petroleum, LLC • AHT Services, LLC • Air Petro Corp. • Alta Fuels, LLC • Alta Transportation, LLC • Altitude Ventures Holding Inc. • Amelia Holding AB • Amsterdam Software B.V. • Ascent Aviation Group, Inc. • Associated Petroleum Products, Inc. ...
IRS number
592459427

INT stock data

Calendar

29 Apr 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 266.2M 266.2M 266.2M 266.2M 266.2M 266.2M
Cash burn (monthly) 128.67M 39.09M (no burn) (no burn) 24M 183.33K
Cash used (since last report) 369.38M 112.23M n/a n/a 68.9M 526.32K
Cash remaining -103.18M 153.97M n/a n/a 197.3M 265.67M
Runway (months of cash) -0.8 3.9 n/a n/a 8.2 1449.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 May 22 Bakshi Ken Common Stock Grant Acquire A No No 0 8,146 0 43,498
17 May 22 Benitez Jorge L. Common Stock Grant Acquire A No No 0 8,146 0 39,741
17 May 22 Kassar Richard A Common Stock Grant Acquire A No No 0 7,310 0 72,649
17 May 22 Cherwoo Sharda Common Stock Grant Acquire A No No 0 7,310 0 20,542
17 May 22 Manley John L Common Stock Grant Acquire A No No 0 7,937 0 49,971
89.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 220 213 +3.3%
Opened positions 35 30 +16.7%
Closed positions 28 38 -26.3%
Increased positions 82 70 +17.1%
Reduced positions 73 83 -12.0%
13F shares Current Prev Q Change
Total value 1.53B 1.53B -0.2%
Total shares 56.64M 57.98M -2.3%
Total puts 30.5K 39.5K -22.8%
Total calls 31K 14.2K +118.3%
Total put/call ratio 1.0 2.8 -64.6%
Largest owners Shares Value Change
BLK Blackrock 10.73M $290.05M +1.4%
Vanguard 6.99M $188.92M +3.6%
Dimensional Fund Advisors 4.29M $115.94M -3.2%
STT State Street 3.45M $93.7M +15.4%
River Road Asset Management 2.45M $66.18M +0.8%
Boston Partners 2M $53.68M +1.6%
FMR 1.57M $42.56M +5.7%
IVZ Invesco 1.36M $36.77M +26.3%
PFG Principal Financial Group Inc - Registered Shares 1.35M $36.49M +33.9%
LSV Asset Management 1.31M $35.46M -2.0%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -946.87K EXIT
Aqr Capital Management 122.43K -928.09K -88.3%
JHG Janus Henderson 1.25M -497.45K -28.5%
STT State Street 3.45M +459.3K +15.4%
PFG Principal Financial Group Inc - Registered Shares 1.35M +341.64K +33.9%
Victory Capital Management 371.06K +303.31K +447.7%
IVZ Invesco 1.36M +282.84K +26.3%
Pacer Advisors 0 -281.84K EXIT
Assenagon Asset Management 0 -266.76K EXIT
Ceredex Value Advisors 528.1K -265.4K -33.4%

Financial report summary

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Competition
Fleetcor
Risks
  • We extend credit to most of our customers in connection with their purchase of fuel and services from us, and our financial condition, results of operations and cash flows will be adversely affected if we are unable to collect accounts receivable.
  • Changes in the market price of fuel may have a material adverse effect on our business.
  • Adverse conditions or events affecting the aviation, marine and land transportation industries may have a material adverse effect on our business.
  • Our physical operations have inherent risks that could negatively impact our business, financial condition and results of operations.
  • If we fail to provide products or services to our customers as agreed, it could adversely affect our business.
  • We may be unable to successfully integrate our acquisitions or fully realize the anticipated benefits of our acquisitions and other strategic investments.
  • Information technology ("IT") failures and data security breaches, including as a result of cybersecurity attacks, could negatively impact our results of operations and financial condition, subject us to increased operating costs, and expose us to litigation.
  • Sales to government customers involve unique risks that could have a material adverse effect on our business and results of operations.
  • Economic, political and other risks associated with international sales and operations could adversely affect our business and future operating results.
  • Our business is subject to seasonal variability, which has caused our revenues and operating results to fluctuate and can adversely affect the market price of our shares.
  • A material impairment of our goodwill or intangible assets could reduce our earnings or adversely impact our results of operations.
  • We face intense competition and, if we are not able to effectively compete in our markets, our revenues and profits may decrease.
  • Climate change and the market and regulatory responses relating to GHG emissions could have a significant impact on our business operations and financial results.
  • Changes in U.S. or foreign tax laws or adverse outcomes from governmental challenges to our tax position could adversely affect our business and future operating results.
  • Our business is subject to extensive laws and regulations, including environmental protection, health and safety, that can result in material costs and liabilities.
  • The data that we collect may be vulnerable to breach, loss or misuse, and our handling of such data may be impacted by changes in data privacy and protection laws and regulations, which could increase operational costs or result in regulatory penalties or litigation.
  • Our international operations subject us to several international trade control, anti-money laundering and anti-corruption laws that can impose substantial compliance costs and expose us to civil and/or criminal penalties.
  • The COVID-19 pandemic and related global economic impacts have had, and are likely going to continue to have, certain adverse effects on our business, results of operations and financial condition.
  • Our business depends on our ability to adequately finance our capital requirements and fund our investments, which, if not available to us, would impact our ability to conduct our operations.
  • Our derivative transactions with customers, suppliers, merchants and financial institutions expose us to price and credit risks, which could have a material adverse effect on our business.
  • We are exposed to various risks in connection with our use of derivatives, which could have a material adverse effect on our results of operations.
Management Discussion
  • Revenue. Our consolidated revenue for the three months ended March 31, 2022 was $12.4 billion, an increase of $6.4 billion, or 108%, compared to the three months ended March 31, 2021, due to higher prices and increased volumes our aviation, land, and marine segments, respectively, as discussed further below.
  • Gross Profit. Our gross profit for the three months ended March 31, 2022 was $230.9 million, an increase of $39.4 million, or 21%, compared to the three months ended March 31, 2021, attributable to increased gross profit of $30.3 million and $21.5 million in the land and marine segments, respectively, partially offset by a decrease of $12.5 million in the aviation segment, as discussed further below.
  • Operating Expenses. Total operating expenses for the three months ended March 31, 2022 were $189.6 million, an increase of $35.7 million, or 23%, compared to the three months ended March 31, 2021. The increase in operating expenses was partially attributable to the addition of Flyers' operating expenses of $18.4 million, as well as increased compensation and employee benefit costs, together with higher general and administrative costs associated with more normalized levels of business activity.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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