A month has gone by since the last earnings report for FleetCor Technologies . Shares have lost about 8.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is FleetCor Technologies due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
FLEETCOR Surpasses Q4 Earnings & Revenues Estimates
FLEETCOR reported solid fourth-quarter 2021 results as both earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of $3.72 per share outpaced the consensus estimate by 3.3% and increased 24% year over year. Revenues of $802.3 million beat the consensus mark by 4.7% and increased 30% year over year on a reported basis and 17% on a pro-forma and macro-adjusted basis.
Revenues in Detail
Segment wise, revenues from North America came in at $554.91 million, up 36.8% year over year. Internationally, revenues of $141.75 million increased 16.9% year over year. Revenues from Brazil grew 16.7% to $105.59 million.
Product-category wise, fuel revenues of $316.4 million went up 22% year over year on a reported basis and 12% on a pro-forma and macro-adjusted basis.
Corporate Payments revenues of $174.5 million increased 52% year over year on a reported basis and 18% on a pro-forma and macro-adjusted basis.
Tolls revenues of $86.7 million improved 13% year over year on a reported basis and 17% on a pro-forma and macro-adjusted basis.
Lodging revenues of $103.1 million grew 82% year over year on a reported basis and 39% on a pro-forma and macro-adjusted basis.
Gift revenues of $55.1 million grew 19% year over year on a reported as well as on a pro-forma and macro-adjusted basis.
Other revenues of $66.4 million increased 6% year over year on a reported as well as on a pro-forma and macro-adjusted basis.
Operating Results
Operating income increased 15.8% from the prior-year quarter’s level to $340.29 million. Operating income margin came in at 42.4% from 47.6% in the prior-year quarter.
Balance Sheet & Cash Flow
FLEETCOR exited fourth-quarter 2021 with cash, cash equivalents and restricted cash of $2.25 billion compared with $2.01 billion at the end of the prior quarter.
The company generated $595.72 million of net cash from operating activities. Capital expenditures totaled $37.08 million.
In the reported quarter, FLEETCOR repurchased shares worth $533.45 million.
First-Quarter 2022 Guidance
For first-quarter 2022, FLEETCOR expects revenues between $740 million and $760 million. Adjusted earnings per share is anticipated between $3.45 and $3.55.
2022 Guidance
FLEETCOR has unveiled its guidance for 2022,. Adjusted earnings per share are anticipated between $15 and $15.50. Revenues are anticipated in the range of $3.19-$3.25 billion. Adjusted tax rate is anticipated between 24% and 26%. Interest expenses are expected between $90 million and $100 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -5.41% due to these changes.
VGM Scores
Currently, FleetCor Technologies has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, FleetCor Technologies has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is FleetCor Technologies (FLT) Down 8.6% Since Last Earnings Report?
A month has gone by since the last earnings report for FleetCor Technologies . Shares have lost about 8.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is FleetCor Technologies due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
FLEETCOR Surpasses Q4 Earnings & Revenues Estimates
FLEETCOR reported solid fourth-quarter 2021 results as both earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of $3.72 per share outpaced the consensus estimate by 3.3% and increased 24% year over year. Revenues of $802.3 million beat the consensus mark by 4.7% and increased 30% year over year on a reported basis and 17% on a pro-forma and macro-adjusted basis.
Revenues in Detail
Segment wise, revenues from North America came in at $554.91 million, up 36.8% year over year. Internationally, revenues of $141.75 million increased 16.9% year over year. Revenues from Brazil grew 16.7% to $105.59 million.
Product-category wise, fuel revenues of $316.4 million went up 22% year over year on a reported basis and 12% on a pro-forma and macro-adjusted basis.
Corporate Payments revenues of $174.5 million increased 52% year over year on a reported basis and 18% on a pro-forma and macro-adjusted basis.
Tolls revenues of $86.7 million improved 13% year over year on a reported basis and 17% on a pro-forma and macro-adjusted basis.
Lodging revenues of $103.1 million grew 82% year over year on a reported basis and 39% on a pro-forma and macro-adjusted basis.
Gift revenues of $55.1 million grew 19% year over year on a reported as well as on a pro-forma and macro-adjusted basis.
Other revenues of $66.4 million increased 6% year over year on a reported as well as on a pro-forma and macro-adjusted basis.
Operating Results
Operating income increased 15.8% from the prior-year quarter’s level to $340.29 million. Operating income margin came in at 42.4% from 47.6% in the prior-year quarter.
Balance Sheet & Cash Flow
FLEETCOR exited fourth-quarter 2021 with cash, cash equivalents and restricted cash of $2.25 billion compared with $2.01 billion at the end of the prior quarter.
The company generated $595.72 million of net cash from operating activities. Capital expenditures totaled $37.08 million.
In the reported quarter, FLEETCOR repurchased shares worth $533.45 million.
First-Quarter 2022 Guidance
For first-quarter 2022, FLEETCOR expects revenues between $740 million and $760 million. Adjusted earnings per share is anticipated between $3.45 and $3.55.
2022 Guidance
FLEETCOR has unveiled its guidance for 2022,. Adjusted earnings per share are anticipated between $15 and $15.50. Revenues are anticipated in the range of $3.19-$3.25 billion. Adjusted tax rate is anticipated between 24% and 26%. Interest expenses are expected between $90 million and $100 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -5.41% due to these changes.
VGM Scores
Currently, FleetCor Technologies has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, FleetCor Technologies has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.