World Fuel Services Q2 Net Income Decreases - Quick Facts

(RTTNews) - World Fuel Services Corporation (INT) reported second quarter net income to company of $29.9 million or $0.42 per share compared to $48.2 million or $0.68 per share in the second quarter of 2014. Non-GAAP net income and earnings per share for the second quarter, excluding share-based compensation and amortization of acquired intangible assets were $37.9 million and $0.53, respectively.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.71 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $8.50 billion from $11.34 billion, a year ago. Analysts expected revenue of $7.68 billion for the quarter.

"While we posted record volumes in all segments, seasonality in Watson Fuels and low prices coupled with reduced volatility in marine, significantly impacted profitability. We expect a significant rebound in our results in the second half of the year and remain optimistic about our long-term growth prospects," stated Michael Kasbar, chairman and CEO.