While industry conditions were challenging last year, World Fuel Services does see better days ahead. In the press release, CEO Michael Kasbar noted, "We are optimistic about our prospects for 2017 and are focused on executing on our long-term strategy.
World Fuel Services Corporation (WFS) [NYSE:INT] Thursday in its 1Q 2017 earnings report said it sold 6.8 million metric tonnes (mt) of bunkers for the period, an 11 percent drop year-over-year from the 7.7 million mt sold in 1Q 2016.
World Fuel Services is struggling a bit of late, in part as higher expenses and turmoil in marine are hurting margins. Margin pressure is combined with continued volume growth and deal-making, allowing earnings to be flat.
Good evening everyone, and welcome to the World Fuel Services' third quarter 2016 earnings conference call. I'm Glenn Klevitz, World Fuel's Assistant Treasurer and I'll be doing the introductions on this evening call, alongside our live slide presentation.
World Fuel Services Corporation (INT), today announced that it has completed the previously announced acquisitions of PAPCO, Inc. and Associated Petroleum Products, Inc. PAPCO is headquartered in Virginia Beach, VA, with 150 employees and 2015 ...