World Fuel Services Corp. (INT) just reported better than expected Q3 results, making it four out of the last four quarters that the company has beat the Street.

Company Description

World Fuel Services Corp. provides marine, aviation and land fuel services and products worldwide. The company was founded in 1984 and has a market cap of $1.56 billion.

Shares of INT have been posting big gains over the last 8 months after bottoming out in late February just above $25. The company’s recent third-quarter results, reported on Nov 4 came in ahead of expectations, providing more support for the current upward trajectory.

Third-Quarter Results

Although revenue took a hit, down 41% from last year to $3.2 billion, earnings came in strong at $1.02 per share, 20 cents ahead of the Zacks Consensus Estimate. In spite of all the global economic volatility of the last year, the company has beat in each of the last four quarters by an average of 20 cents, or 25%,

Estimates Advance

Estimates have jumped higher on the good quarter, with the current year adding 22 cents and climbing to $3.66. The next-year estimate is pegged at $3.90, a respectable 6.5% growth projection.

Valuation

Based on the current-year estimate, INT trades with a P/E of 14.5X, a slight discount to the overall market.

The Chart

Shares of INT are up huge over the last 8 months after bottoming out in late February and rallying with the overall market. More recently, the solid earnings surprise moved shares back to within striking distance of the 52-week high at $57.12. Take a look below.

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