fuel payments

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 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 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

FLEETCOR earnings down slightly in Q1

Fleetcor reports first-quarter earnings for 2021.Link to full report

Global commercial fuel-card and business payments company FLEETCOR Technologies Inc. (NYSE: FLT) on Wednesday reported adjusted earnings per share (EPS) of $2.82 for the first quarter, a 6% decrease from adjusted EPS of $3 in the first quarter of 2020.

After better-than-expected fourth-quarter earnings, FLEETCOR’s first-quarter net revenue was $609 million, an 8% year-over-year decrease.

“Although revenue and adjusted EPS were down, … we remain encouraged that new sales were up...

https://s29755.pcdn.co/news/fleetcor-earnings-down-slightly-in-q1

FLEETCOR Q4 earnings ‘better than expected’

FLEETCOR reported Q4 earnings for 2020.Link to full report

Global business payments company FLEETCOR Technologies Inc. (NYSE: FLT) reported adjusted earnings per share of $3.01 for the fourth quarter Thursday, higher than Yahoo Finance’s estimated $2.82, but a 5% decrease compared to the 2019 fourth quarter. 

“Q4 finished better than expected, with improving trends across the board,” said Ron Clarke, chairman and chief executive officer at FLEETCOR, in a statement. 

FLEETCOR reported net revenue of $617 million in the quarter, an 11.7%...

https://s29755.pcdn.co/news/fleetcor-q4-earnings-better-than-expected

Comdata’s Justin King sees COVID having accelerated digitization

The COVID-19 pandemic has quickened the rate of technological adoption for businesses across the globe. From equipping remote workers with the resources needed to perform their daily job functions to navigating communications, customer service and product rollouts, businesses have faced a year like never before.

Some have floundered, but those that have adapted have thrived.

Payment and technology provider Comdata, a FLEETCOR Technologies (NYSE: FLT) company, adapted and quickly rolled out a new...

https://s29755.pcdn.co/news/comdatas-justin-king-sees-covid-having-accelerated-digitization

Wex misses third-quarter earnings and revenue estimates

Wex Inc. (NYSE: WEX) on Thursday reported third-quarter revenue of $382.1 million, down 17% from $460 million in Q3 2019, and adjusted earnings per share (EPA) of $1.59.

The quarterly results fell short of Wall Street expectations, with most analysts predicting earnings of $1.71 to $1.73 per share and revenue of $395 million.

“As expected, the pandemic continues to impact business activity within our customer base,” Wex CEO Melissa Smith said during the company’s quarterly earnings call....

https://s29755.pcdn.co/news/wex-misses-third-quarter-earnings-and-revenue