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
Sector
Former names
INTERNATIONAL RECOVERY CORP
SEC CIK
Corporate docs
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
Press releases
World Fuel Services Corporation Declares Regular Quarterly Cash Dividend
17 May 22
World Fuel Services Corporation Reports First Quarter 2022 Results
28 Apr 22
World Fuel Services Corporation to Host First Quarter 2022 Earnings Conference Call
14 Apr 22
World Fuel Services Corporation Amends, Expands and Extends Credit Facility
4 Apr 22
Calendar
29 Apr 22
26 Jun 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
89.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 220 |
Opened positions | 35 |
Closed positions | 28 |
Increased positions | 82 |
Reduced positions | 73 |
13F shares | Current |
---|---|
Total value | 1.53B |
Total shares | 56.64M |
Total puts | 30.5K |
Total calls | 31K |
Total put/call ratio | 1.0 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 10.73M | $290.05M |
Vanguard | 6.99M | $188.92M |
Dimensional Fund Advisors | 4.29M | $115.94M |
STT State Street | 3.45M | $93.7M |
River Road Asset Management | 2.45M | $66.18M |
Boston Partners | 2M | $53.68M |
FMR | 1.57M | $42.56M |
IVZ Invesco | 1.36M | $36.77M |
PFG Principal Financial Group Inc - Registered Shares | 1.35M | $36.49M |
LSV Asset Management | 1.31M | $35.46M |
Financial report summary
?Competition
FleetcorRisks
- 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
?Positive | ||
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Legalese | ||
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H.S. junior Avg
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New words:
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Removed:
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Financial reports
Current reports
8-K
Submission of Matters to a Vote of Security Holders
17 May 22
8-K
World Fuel Services Corporation Reports First Quarter 2022 Results
27 Apr 22
8-K
First Quarter 2022 Earnings Conference Call
14 Apr 22
8-K
Entry into a Material Definitive Agreement
4 Apr 22
8-K
Departure of Directors or Certain Officers
23 Mar 22
8-K/A
Financial Statements and Exhibits
18 Mar 22
8-K
World Fuel Services Corporation Declares Regular Quarterly Cash Dividend
11 Mar 22
8-K
World Fuel Services Corporation Reports Fourth Quarter and Full Year 2021 Results
24 Feb 22
8-K
Fourth Quarter and Full Year 2021 Earnings Conference Call
15 Feb 22
8-K
Completion of Acquisition or Disposition of Assets
3 Jan 22
Registration and prospectus
S-8
Registration of securities for employees
9 Aug 21
S-8
Registration of securities for employees
7 Aug 20
S-8
Registration of securities for employees
4 Aug 16
424B2
Prospectus for primary offering
15 Sep 10
424B5
Prospectus supplement for primary offering
12 Sep 10
S-3ASR
Automatic shelf registration
12 Sep 10
S-8
Registration of securities for employees
5 Aug 09
S-8
Registration of securities for employees
5 Jul 07
POS AM
Prospectus update (post-effective amendment)
23 Jan 06
S-8
Registration of securities for employees
19 Dec 05
Proxies
DEFA14A
Additional proxy soliciting materials
7 Apr 22
DEFA14A
Additional proxy soliciting materials
9 Apr 21
DEFA14A
Additional proxy soliciting materials
12 May 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEFA14A
Additional proxy soliciting materials
14 Apr 19
DEF 14A
Definitive proxy
12 Apr 18
Other
UPLOAD
Letter from SEC
24 Apr 18
CORRESP
Correspondence with SEC
12 Apr 18
UPLOAD
Letter from SEC
28 Mar 18
UPLOAD
Letter from SEC
26 Jul 17
CORRESP
Correspondence with SEC
8 Jun 17
CORRESP
Correspondence with SEC
23 May 17
UPLOAD
Letter from SEC
11 May 17
UPLOAD
Letter from SEC
12 May 16
CORRESP
Correspondence with SEC
7 Apr 16
CORRESP
Correspondence with SEC
31 Mar 16
Ownership
4
WORLD FUEL SERVICES / PAUL H STEBBINS ownership change
19 May 22
4
WORLD FUEL SERVICES / Jill Smart ownership change
19 May 22
4
WORLD FUEL SERVICES / Stephen K Roddenberry ownership change
19 May 22
4
WORLD FUEL SERVICES / John L Manley ownership change
19 May 22
4
WORLD FUEL SERVICES / RICHARD A KASSAR ownership change
19 May 22
4
WORLD FUEL SERVICES / Sharda Cherwoo ownership change
19 May 22
4
WORLD FUEL SERVICES / Jorge L. Benitez ownership change
19 May 22
4
WORLD FUEL SERVICES / KEN BAKSHI ownership change
19 May 22
4
WORLD FUEL SERVICES / Jose-Miguel Tejada ownership change
13 May 22
4
WORLD FUEL SERVICES / JOHN PETER RAU ownership change
17 Mar 22
Transcripts
2022 Q1
Earnings call transcript
29 Apr 22
2021 Q4
Earnings call transcript
25 Feb 22
2021 Q3
Earnings call transcript
29 Oct 21
2021 Q2
Earnings call transcript
31 Jul 21
2021 Q1
Earnings call transcript
1 May 21
2020 Q4
Earnings call transcript
27 Feb 21
2020 Q3
Earnings call transcript
31 Oct 20
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
1 Aug 20
2020 Q1
Earnings call transcript
30 Apr 20
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