Fleetcor

Corpay’s Q2 fuel transaction revenue up 1% to $510M

Corpay’s commercial fuel card payments business posted second-quarter revenue of $510 million, a 1% year-over-year increase compared to 2023.

The fuel card payments segment was mixed, according to CEO Ron Clarke.

“Organic revenue growth for the quarter was up 6%, but clearly a tale of two cities. Our corporate payments business, Brazil business and international fleet business performed exceptionally well, while our lodging and North America fleet businesses were not as good. It presented a drag...

https://www.freightwaves.com/news/corpays-q2-fuel-transaction-revenue-up-1-to-510m

Corpay records Q1 fuel payments revenue of $494M

Corpay, previously Fleetcor Technologies, has reduced its full-year earnings forecast for 2024, citing high interest rates and unfavorable foreign exchange rates, according to CEO Ron Clarke.

“Both of these macro factors unfortunately will depress our current rest of year,” Clarke said during a call with analysts Wednesday after the market closed. “Additionally, we’re expecting our lodging clients’ softness to hang around longer, thereby reducing our full-year lodging revenue forecast.”

Corpay...

https://www.freightwaves.com/news/corpay-records-q1-fuel-payments-revenue-of-494m

FleetCor’s Q4 revenue and profit rise y/y but miss analysts’ estimates

FleetCor Technologies Inc. announced its fourth-quarter and full-year financial results for 2023 after the market closed Wednesday, reporting increases in revenue and earnings.

The business and fuel payments firm’s fourth-quarter revenue increased 6% year over year (y/y) to $937 million, while earnings per share increased 10% y/y to $4.44.

FleetCor missed Wall Street quarterly revenue and earnings estimates of $968.4 million and $4.47 per share.

Ron Clarke, chairman and CEO, said fourth-quarter...

https://www.freightwaves.com/news/fleetcors-q4-revenue-and-profit-rise-y-y-but-miss-analysts-estimates

FleetCor Technologies’ Q2 fuel transaction revenue up 6% to $399M

FleetCor Technologies saw improving stability in the services it provides to trucking businesses across North America and its international units, helping the company to a better-than-expected quarter, officials said.

“It’s been a really terrific start to the first half — year-to-date revenues, sales and earnings all coming in ahead of plan,” Ron Clarke, chairman and CEO, said during a call with analysts after the market closed on Tuesday.

Total revenue increased 10% year over year (y/y) in the...

https://www.freightwaves.com/news/fleetcors-q2-fuel-revenue-increases-10-to-399m

What’s a fuel card provider’s electrification strategy?

More small and midsize businesses than ever are beginning to ramp up their sustainability efforts. For many fleets, adding electric vehicles to reduce their carbon footprints is an increasingly realistic way to do so.

Electric pickup trucks, vans, and even medium-duty and heavy-duty trucks are just starting to gain momentum in the market. It will likely take decades before gasoline- and diesel-powered engines are fully phased out, so in the meantime, there will be a transitionary period when an...

https://www.freightwaves.com/news/whats-a-fuel-card-providers-electrification-strategy

FleetCor Technologies has ‘better-than-expected’ Q4

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

FleetCor Technologies Inc. on Wednesday reported fourth-quarter revenue of $883.6 million, a 10%...

https://www.freightwaves.com/news/fleetcor-technologies-has-better-than-expected-q4

Fleetcor’s momentum continues through second quarter

A red truck is behind a diesel fuel pump.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Wednesday reported revenues of $861.3 million, a 29% increase compared to $667.4 million in the second quarter of 2021.

The Atlanta-based company experienced 30% year-over-year (y/y) increases in revenue the previous two quarters.

“We reported an exceptional quarter, with continued momentum leading to revenues and adjusted net income per share growth of 29% and 32%, respectively,” Ron Clarke, Fleetcor chairman...

https://www.freightwaves.com/news/fleetcors-momentum-continues-through-second-quarter

Fleetcor revenue increased 30% YOY for 2nd quarter in a row

A close-up of a diesel fuel pump show the price of fuel.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Thursday reported a 30% year-over year increase in revenue from $609 million in the first quarter of 2021 to $789 million in the first quarter of 2022. The company reported a similar 30% year-over-year increase in the fourth quarter of 2021.

“We reported an outstanding first quarter, with strong core trends driving revenues and adjusted net income per share growth of 30% and 29%, respectively,” Ron Clarke,...

https://www.freightwaves.com/news/fleetcor-revenue-increased-30-yoy-for-2nd-quarter-in-a-row

Fleetcor’s Q4 revenue increased 30% YOY

Fleetcor reported fourth quarter earnings for 2021.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Tuesday reported total revenue for the fourth quarter grew 30% year-over-year to $802 million. Net income increased to $225 million for the quarter, a 7% year-over-year rise.

Fleetcor’s adjusted earnings per share (EPS) reached $3.72 for the fourth quarter, increasing 24% year-over-year from $3.01. The company’s retention rate reached 93%.

“Our fourth-quarter results came in ahead of our expectations we gave...

https://www.freightwaves.com/news/fleetcors-q4-revenue-increased-30-yoy

Fleetcor beats Q3 expectations again with 29% YOY revenue growth

Fleetcor's third-quarter results beat expectations again.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the third quarter grew 29% year-over-year to nearly $756 million. Net income increased to $234 million for the quarter, a 24% year-over-year rise.

After record retention and sales in the second quarter, the trend continued in Q3. 

Fleetcor’s adjusted earnings per share (EPS) reached $3.52 for the third quarter, increasing 26% year-over-year from $2.80. The...

https://www.freightwaves.com/news/fleetcor-beats-q3-expectations-again-with-29-yoy-revenue-growth

+ More