Exhibit 99.1
Ira M. Birns, Executive Vice President &
Chief Financial Officer
Glenn Klevitz
Vice President, Treasury & Investor Relations
World Fuel Services Corporation Reports Third Quarter 2018 Results

MIAMI—October 25, 2018-- World Fuel Services Corporation (NYSE: INT)
Third-Quarter 2018 Highlights
GAAP net income of $38.2 million or $0.56 per diluted share
Adjusted net income of $42.5 million, or $0.63 per diluted share
Total of 5.0 billion gallons of fuel sold
Total gross profit of $266.7 million, up 11% year-over-year
Adjusted EBITDA of $104.3 million, up 23% year-over-year

“Our third quarter results were highlighted by record profitability in our aviation segment as well as better than expected performance in our marine segment,” stated Michael J. Kasbar, chairman and chief executive officer of World Fuel Services Corporation. “We continue to focus on operating efficiencies, portfolio refinement and organic growth initiatives, which has contributed to improved operating performance in 2018 and should position us well for growth in 2019 and beyond.”

For the quarter, our aviation segment generated gross profit of $140.7 million, an increase of 14% year-over-year, primarily driven by strong growth in international fuel sales and continued strength in government-related activity. Our marine segment generated gross profit of $43.0 million, an increase of 41% year-over-year, primarily due to improved economics in our core operations as well as seasonal activities. Our land segment generated gross profit of $83.0 million, down 3% year-over-year, driven by weakness in the United Kingdom and Brazil, which was partially offset by growth in our Kinect global energy management and Multi Service payment solutions businesses.

“Commitment to our continued cost management initiatives contributed to record adjusted EBITDA generation during the third quarter, resulting in a 23% increase compared to last year,” said Ira M. Birns, executive vice president and chief financial officer. “Year-to-date our improvement in operating leverage is already tracking ahead of our expectations for a 250 basis point improvement for the full year.”

Liquidity and Capital

Cash flow used in operating activities was $87.5 million for the third quarter of 2018. This reflects the impact of a change in classification of $115.6 million of cash proceeds received from the beneficial interest of receivables sold from cash flow from operating activities to cash flow from investing activities due to an accounting standard adopted in the beginning of 2018. A continued focus on working capital

The following information was filed by World Fuel Services Corp (INT) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate World Fuel Services Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by World Fuel Services Corp.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account