fuel cards

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

AtoB aims to boost commercial transportation efficiency with telematics

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AtoB, a fleet payments platform, is leveraging telematics and geolocation technology to give...

FleetCor Technologies has ‘better-than-expected’ Q4

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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

Trucking fintech startup AtoB raises $155 million in Series B round

Trucking payments platform AtoB announced Wednesday it has raised $155 million in a Series B round led by Elad Gil and General Catalyst.

The funding is a combination of equity to scale its services over the next year, along with debt and customer acquisition cost financing to provide working capital to small fleet businesses, the company said in a news release. 

“AtoB is working to improve the lives of the operators and drivers who power the global economy,” Vignan Velivela, AtoB’s CEO and...

https://www.freightwaves.com/news/atob-raises-155-million-series-b

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

Fleetcor reports ‘record retention and sales’ for Q2

Fleetcor's Q2 earnings show significant growth.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the second quarter grew 27% year-over-year to $667 million. Net income increased by 24% year-over-year, totaling $196 million in the second quarter.

After slightly lower earnings in the first quarter, Fleetcor’s adjusted earnings per share (EPS) reached $3.15 for the second quarter, a 38% year-over-year increase from $2.28. The company expected adjusted EPS to...

https://www.freightwaves.com/news/fleetcor-reports-record-retention-and-sales-for-q2

Viewpoint: Fuel cards ripe for disruption; here’s why

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

While digitization has affected every aspect of new freight technology, one area that remains in need of disruption is fuel cards. We’ve seen other parts of fintech benefit from automated solutions for paying and getting paid. With fuel cards, there is room to respond better to functionality demands and improve the value of the data they can provide.

The fuel card...

https://www.freightwaves.com/news/viewpoint:-fuel-cards-ripe-for-disruption;-heres-why

Fuel card provider WEX sees ‘slow and steady’ recovery in 2021

Shares of WEX down on below-consensus revenue outlook for first quarter

Truck fleet payments and fuel card provider WEX Inc. (NYSE: WEX) reported adjusted earnings per share of $1.45 Wednesday, 2 cents light of the consensus estimate and $1.16 lower year-over-year. The headline number was a loss of $5.30 per share, which included more than $200 million in one-off acquisition-related expenses and a goodwill impairment charge.

The Portland, Maine-based company reported a 9% year-over-year decline in consolidated revenue as activity in the company’s fleet segment...

https://www.freightwaves.com/news/fuel-card-provider-wex-sees-slow-and-steady-recovery-in-2021

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