• DATVF.SEALAX
    1.307
    0.018
    1.4%
  • DATVF.VNU
    1.527
    0.024
    1.6%
  • DATVF.PHLCHI
    0.967
    0.014
    1.5%
  • DATVF.VWU
    1.734
    0.046
    2.7%
  • DATVF.ATLPHL
    1.723
    0.013
    0.8%
  • DATVF.LAXDAL
    1.591
    -0.014
    -0.9%
  • DATVF.DALLAX
    0.969
    0.055
    6%
  • DATVF.VSU
    1.280
    0.020
    1.6%
  • DATVF.CHIATL
    2.008
    -0.016
    -0.8%
  • DATVF.VEU
    1.566
    0.004
    0.3%
  • DATVF.LAXSEA
    2.162
    0.074
    3.5%
  • ITVI.USA
    10,355.900
    24.070
    0.2%
  • OTRI.USA
    8.250
    0.160
    2%
  • OTVI.USA
    10,373.890
    23.230
    0.2%
  • TLT.USA
    2.600
    -0.020
    -0.8%
  • WAIT.USA
    158.000
    8.000
    5.3%
  • DATVF.SEALAX
    1.307
    0.018
    1.4%
  • DATVF.VNU
    1.527
    0.024
    1.6%
  • DATVF.PHLCHI
    0.967
    0.014
    1.5%
  • DATVF.VWU
    1.734
    0.046
    2.7%
  • DATVF.ATLPHL
    1.723
    0.013
    0.8%
  • DATVF.LAXDAL
    1.591
    -0.014
    -0.9%
  • DATVF.DALLAX
    0.969
    0.055
    6%
  • DATVF.VSU
    1.280
    0.020
    1.6%
  • DATVF.CHIATL
    2.008
    -0.016
    -0.8%
  • DATVF.VEU
    1.566
    0.004
    0.3%
  • DATVF.LAXSEA
    2.162
    0.074
    3.5%
  • ITVI.USA
    10,355.900
    24.070
    0.2%
  • OTRI.USA
    8.250
    0.160
    2%
  • OTVI.USA
    10,373.890
    23.230
    0.2%
  • TLT.USA
    2.600
    -0.020
    -0.8%
  • WAIT.USA
    158.000
    8.000
    5.3%
Company earningsNewsTrucking

FLEETCOR reports increases in fuel and toll revenue

FLEETCOR Technologies, Inc. (NYSE: FLT), a fuel card and business payments provider, announced third quarter 2019 adjusted earnings per share (EPS) of $3.10, 16% higher year-over-year and a nickel better than the consensus estimate.

Total net revenue in the third quarter of 2019 increased 10% year-over-year to $681 million.

Net revenue from the company’s fuel card program increased 4% to $296 million as fuel revenue per transaction increased 5% and was only partially offset by a modest decline in the total number of transactions. On the company’s earnings call, management acknowledged the softness seen in the trucking markets domestically and abroad.

Toll net revenue increased 16% to $89 million in the period as average tags per month increased 9% and net revenue per tag climbed 8%.

On a consolidated basis, adjusted net income increased 14% year-over-year to $281 million.

FLEETCOR’s Key Performance Indicators

The company increased its full year 2019 earnings guidance to an adjusted EPS range of $11.68 to $11.78 (prior $11.53 to $11.83). Total revenue guidance was tightened to a range of $2.64 billion to $2.66 billion (prior $2.625 billion to $2.675 billion) to reflect less favorable macroeconomic conditions relative to management’s original expectations. The new guidance is in line with current consensus estimates calling for revenue of $2.65 billion and EPS of $11.74.

“The third quarter was another great quarter for the company. During the quarter, our revenues and profits finished above our expectations, with adjusted net income per diluted share of $3.10, which was $0.05 above the midpoint of our guidance for the quarter,” said FLEETCOR’s Chairman and CEO Ron Clarke.

The company’s significant growth has been achieved through a number of acquisitions. In 2014, the company acquired Comdata, the largest over-the-road fuel card provider, for nearly $3.5 billion.

“We have plenty of liquidity to pursue other acquisition opportunities as well as share buybacks,” said Clarke.

FLEETCOR increased its share repurchase program by $1 billion and extended the term by three years. The company is authorized to repurchase nearly $1.5 billion of its common stock by February 2023.

FLT Stock Price Chart – SONAR: STOCK.FLT

Tags
Show More

Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Close