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World Fuel Services Corporation (INT - Snapshot Report) recently surprised on the Zacks Consensus Estimate for the 8th quarter in a row. The company also has attractive valuations, with a forward P/E of 13.

World Fuel Services sells marine, aviation and land fuel products to clients at more than 6,000 locations in 200 countries. Customers include airports, seaports, tanker truck loading terminals and other storage locations.

World Fuel Services Surprised for the Fourth Quarter in a Row

On May 4, World Fuel Services reported its first quarter results which beat the Zacks Consensus by 18.4%. Earnings per share were 58 cents compared to the Zacks Consensus of 49 cents. The company made 48 cents in the year ago quarter.

Each of the company's segments saw year over year gross profit increases. The aviation segment rose 51% to a gross profit of $48.4 million.

The marine segment rose 16% to $39.4 million and the land segment grew profit by 34% to $11.1 million. From the fourth quarter, however, all 3 segments saw profit declines of 1% and 5%, respectively.

Despite the financial improvement, World Fuel Services is still being cautious.

"While we are beginning to see slight recoveries in certain markets, we continue our disciplined approach to managing credit and risk," said Paul H. Stebbins, chairman and CEO.

"Our aviation segment increased volumes for the fourth consecutive quarter and generated record operating profit during the first quarter of 2010," he added.

Zacks Consensus Estimates Rise

Analysts are still bullish on the company as estimates have risen since the first quarter results.

3 estimates have risen on the second quarter in the last 7 days, pushing the Zacks Consensus up a penny to 51 cents in that time.

The 2010 Zacks Consensus Estimate climbed 10 cents in the past week to $2.13 per share 4 estimates rose.

Value Fundamentals

World Fuel Services is not altogether expensive. It has a price-to-book ratio of 2.1 which is within the value parameters of under 3.0. It also has a solid 5-year return on equity (ROE) of 16.7%.

The company rewards shareholders with a dividend yielding 0.5%. This is more than the industry, which pays, on average, nothing.

World Fuel Services is a Zacks #1 Rank (strong buy) stock.

Tracey Ryniec is the Value Stock Strategist for She is also the Editor in charge of the market-beating Zacks Value Trader service.

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