FleetCor Technologies (FLT) reported $937.32 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 6.1%. EPS of $4.44 for the same period compares to $4.04 a year ago.The reported revenue represents a surprise of -3.21% over the Zacks Consensus Estimate of $968.39 million. With the consensus EPS estimate being $4.47, the EPS surprise was -0.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

FleetCor Technologies (FLT) came out with quarterly earnings of $4.44 per share, missing the Zacks Consensus Estimate of $4.47 per share. This compares to earnings of $4.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.67%. A quarter ago, it was expected that this provider of fuel card and payment products for businesses would post earnings of $4.49 per share when it actually produced earnings of $4.49, delivering no surp ...

ATLANTA--(BUSINESS WIRE)--FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced that it successfully closed on an amendment to its pro rata Term Loan A and Revolver A credit facilities. The transaction was leverage neutral and results in a $600 million increase in the Company’s capacity under its facilities. This amendment resulted in an increase to the Company’s revolver from $1.5 billion to $1.775 billion. In addition, the Company increased its borrowings und ...

FLEETCOR Technologies, Inc. (FLT) is scheduled to release its fourth-quarter 2023 results on Feb 7, after the closing bell.FLT has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the four trailing quarters, the average surprise being 1.64%.Q4 ExpectationsThe Zacks Consensus Estimate for the top line is currently pegged at $968.39 million, up 9.6% from the year-ago actual figure. Strategic acquisitions like PayByPhone and strong demand for EVs are likely to h ...

Wall Street analysts forecast that FleetCor Technologies (FLT) will report quarterly earnings of $4.47 per share in its upcoming release, pointing to a year-over-year increase of 10.6%. It is anticipated that revenues will amount to $968.39 million, exhibiting an increase of 9.6% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, hav ...

Wall Street expects a year-over-year increase in earnings on higher revenues when FleetCor Technologies (FLT) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on F ...

miniseries FLEETCOR Technologies (NYSE:FLT) has delivered strong results for shareholders since becoming a public company in December 2010. Since its IPO, FLT has delivered a total return of 979%. Comparably, the S&P 500 has delivered a total return of 404% during the same time period. FLT's strong performance for shareholders has been driven by strong performance in its underlying business as EPS has grown at a nearly 15% CAGR over the past 10 years. Despite having a market cap greater than $20 billion ...

Fleetcor Technologies, Inc. (NYSE:FLT) Q3 2023 Earnings Conference Call November 8, 2023 5:30 PM ET Company Participants James Eglseder - Head, IR Ronald Clarke - Chairman, President & CEO Thomas Panther - CFO Conference Call Participants Sanjay Sakhrani - KBW Tien-Tsin Huang - JPMorgan Chase & Co. Darrin Peller - Wolfe Research Mihir Bhatia - Bank of America Merrill Lynch Kenneth Suchoski - Autonomous Research Christopher Svensson - Deutsche Bank Ramsey El-Assal - Barclays Bank Robert Napoli - William Blai ...

Derivative Lawsuits settlement of this matter, or defense against the lawsuit, could involve costs to the Company, including legal fees, redress, penalties, and remediation expenses. Estimating an amount or range of possible losses resulting from litigation proceedings is inherently difficult and requires an extensive degree of judgment, particularly where, as here, the matters involve indeterminate claims for monetary damages and are in the stages of the proceedings where key factual and legal issues have ...

Financial Data and Key Metrics - Q2 revenue was $948 million, with cash EPS of $4.19, both up sequentially [116] - Q2 EBITDA nearly touched $500 million, an all-time record [116] - Organic revenue growth was 10%, with fleet revenue up 6% and EV revenue up 45% year-over-year [116][123] - Full-year 2023 guidance: GAAP revenues between $3.836 billion and $3.86 billion, adjusted net income between $1.281 billion and $1.303 billion, and EBITDA growth of 17% [39] - Q3 revenue expected to be between $980 million and $1 billion, with adjusted net income per share between $4.44 and $4.64 [39] Business Line Performance - Fleet business organic revenue increased 6%, driven by higher revenue per transaction and strong international markets, particularly Mexico and Australia [116][126] - Corporate Payments revenue grew 22%, with direct payables business up over 30% and cross-border revenue up almost 30% [134][137] - Brazil revenue grew 15%, driven by 7% tag growth and strong sales in digital, field, and partner distribution channels [135][137] - Lodging revenue increased 14%, with sales success across industry verticals and revenue per room night up 19% [135] Market Performance - International markets, particularly Mexico and Australia, outperformed, with both markets up over 20% in Q2 [116] - North America fuel sales remained soft due to the pivot away from micro SMB accounts to control bad debt [117] - EV revenue grew 45% year-over-year, with the number of UK EV commercial accounts nearly tripling [123][132] Strategic Direction and Industry Competition - The company is aggressively repositioning its global fleet business, focusing on EV growth and broadening vehicle-related payment solutions [9] - Exploring the separation of one or more businesses, potentially combining with a pure-play company to unlock value [139] - EV vehicles are generating more revenue per vehicle than ICE vehicles, with the company leading in EV solutions in Europe [123][126] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the future, with strong sales growth and a solid pipeline across businesses [7][17] - The company expects to exit Q4 with revenue growth of 14% and cash EPS growth of 16% [17] - The strategic review is ongoing, with a focus on fleet reinvention and potential separation to unlock value [5][35] Other Important Information - The company is working on closing the sale of its Russian business, expected to reduce full-year revenues by $45 million to $55 million [39] - Bad debt expense was $35 million, stable with last year, and expected to improve by 20% in the second half of 2023 [120] - The company has $1.25 billion in unrestricted cash and $768 million available on its revolver, with ample liquidity for M&A and share repurchases [122] Q&A Session Summary Question: Trends in fleet segment organic revenue and international market drivers [46] - Answer: International markets, particularly Mexico and Australia, drove growth due to strong transaction activity and sticky fuel prices [46] Question: Impact of EV on fleet business growth [36] - Answer: EV is expected to accelerate growth in the fleet business, with EV revenue up 45% year-over-year and more revenue per vehicle compared to ICE vehicles [36][123] Question: Corporate Payments segment strength and sustainability [50] - Answer: Corporate Payments saw strong growth, with direct payables up over 30% and cross-border revenue up almost 30%, driven by strong sales and recurring business [134][137] Question: Capital allocation strategy and buybacks [66] - Answer: No change in capital allocation strategy, with M&A as the lead focus and potential share buybacks after closing the Russia sale [66] Question: Lodging segment performance and softness in managed accounts [58] - Answer: Lodging revenue grew 14%, but managed accounts showed softness, with diversification in airline and insurance helping to offset the impact [58][59] Question: Take rates and revenue per transaction in Corporate Payments and Fleet [108] - Answer: Take rates in Corporate Payments are improving due to a mix shift towards higher-margin direct business, while Fleet revenue per transaction is driven by international markets and EV growth [110][127] Question: Strategic review and potential separation of businesses [42] - Answer: The company is exploring the separation of one or more businesses, with a focus on fleet reinvention and potential combinations to unlock value [42][139]