Aug 6 - World Fuel Services Corp (INT.N), which provides fuel and services to commercial and corporate aircraft, reported better-than-expected second-quarter earnings helped by increased contribution from its land segment and lower expenses.
Net income for the second quarter was $27.7 million, or 93 cents a share, compared with $20.5 million, 71 cents a share, in the year-ago quarter.
Excluding items, the company earned $30.7 million, or $1.02 a share. Analysts, on average, were expecting earnings of 78 cents a share, before special items, according to Reuters Estimates.
Total revenue more than halved to $2.53 billion, but came in above average analysts' forecast of $2.35 billion.
Gross profit from the land segment for the quarter was $11.5 million, compared with $4.7 million last year.
Total operating expenses fell 14 percent to $55.4 million.
Shares of the company were up about 2 percent at $44 in after-hours trading. They closed at $43.19 Thursday on the New York Stock Exchange.
Net income for the second quarter was $27.7 million, or 93 cents a share, compared with $20.5 million, 71 cents a share, in the year-ago quarter.
Excluding items, the company earned $30.7 million, or $1.02 a share. Analysts, on average, were expecting earnings of 78 cents a share, before special items, according to Reuters Estimates.
Total revenue more than halved to $2.53 billion, but came in above average analysts' forecast of $2.35 billion.
Gross profit from the land segment for the quarter was $11.5 million, compared with $4.7 million last year.
Total operating expenses fell 14 percent to $55.4 million.
Shares of the company were up about 2 percent at $44 in after-hours trading. They closed at $43.19 Thursday on the New York Stock Exchange.
