Fleetcor Technologies, Inc. (FLT) Tops Q1 EPS by 13c

Fleetcor Technologies, Inc. (NYSE: FLT) reported Q1 EPS of $2.50, $0.13 better than the analyst estimate of $2.37. Revenue for the quarter came in at $609.7 million versus the consensus estimate of $600.9 million.

Fiscal-Year 2018 Outlook:

“The first quarter of 2018 was another strong quarter for the Company. The macro-economic environment was quite favorable versus prior year, and in line with our 2018 expectations,” said Eric Dey, chief financial officer, FLEETCOR Technologies, Inc. “We are raising our guidance to reflect our first quarter results compared to our expectations. Although foreign exchange rates are trending a little worse than the first quarter average, fuel prices are a bit better than our expectation earlier this year, so we are maintaining our prior macro guidance.”

For full year 2018, FLEETCOR Technologies, Inc. updated financial guidance is as follows:

• Revenues including the adoption of ASC 606, between $2,390 million and $2,450 million;
• Net income between $705 million and $735 million;
• Net income per diluted share between $7.55 and $7.85;
• Revenues under ASC 605 between $2,500 million and $2,560 million;
• Adjusted net income1 between $950 million and $980 million; and
• Adjusted net income per diluted share1 between $10.20 and $10.50.

For earnings history and earnings-related data on Fleetcor Technologies, Inc. (FLT) click here.

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