World Fuel Services Q2 Net Profit Declines

(RTTNews) - World Fuel Services Corp. (INT) reported second quarter net income of $48.2 million or $0.68 per share, compared to $51.0 million or $0.71 per share for the year-ago quarter.

Excluding expenses related to an executive non-renewal charge, net income for the latest quarter was $51.2 million or $0.72 per share.

Excluding share-based compensation, amortization of acquired intangible assets and an executive non-renewal charge, adjusted net income for the second quarter was $57.9 million or $0.81 per share, compared to $57.5 million or $0.80 per share in the prior year quarter.

Revenue for the second quarter rose to $11.34 billion from $10.48 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.71 per share on revenue of $11.55 billion for the second quarter.