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FLEETCOR (FLT) Q4 Earnings and Revenues Surpass Estimates
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FLEETCOR Technologies, Inc. reported solid fourth-quarter 2022 results as both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding $1.01 from non-recurring items) of $4.04 per share outpaced the Zacks Consensus Estimate by 3.3% and increased 8.6% year over year.
Revenues of $883.6 million beat the Zacks Consensus Estimate by 1.2% and increased 10.1% year over year on a reported basis and 7% on a pro-forma and macro-adjusted basis.
Let’s check out the numbers in detail.
FleetCor Technologies, Inc. Price, Consensus and EPS Surprise
Product-category-wise, fuel revenues of $351.1 million rose 11% year over year on a reported basis and 2% on a pro-forma and macro-adjusted basis.
Corporate Payments revenues of $202 million increased 16% year over year on a reported basis and 20% on a pro-forma and macro-adjusted basis.
Tolls revenues of $97.5 million improved 12% year over year on a reported basis and 6% on a pro-forma and macro-adjusted basis.
Lodging revenues of $119.1 million grew 15% year over year on a reported basis and 14% on a pro-forma and macro-adjusted basis.
Gift revenues of $47.4 million plunged 14% year over year on a reported and 11% on a pro-forma and macro-adjusted basis.
Other revenues of $66.5 million remained unchanged year over year on a reported and surged 3% on a pro-forma and macro-adjusted basis.
Operating Results
Operating income increased 9% from the prior-year quarter’s level to $369.3 million. Operating income margin fell 41.8% from 42.4% in the prior-year quarter.
Balance Sheet & Cash Flow
FLEETCOR exited fourth-quarter 2022 with cash, cash equivalents and restricted cash of $1.44 billion compared with $1.32 billion at the end of the prior quarter.
FLT provided $316.2 million of net cash from operating activities. Capital expenditures totaled $43.8 million.
Q1 Guidance
Revenues are expected to be between $875 million and $890 million. The guided range is above the Zacks Consensus Estimate of $867.57 million.
Adjusted earnings per share is expected to be between $3.55 and $3.75. The Zacks Consensus Estimate of $3.77 per share is pegged above the guided range.
2023 Guidance
Adjusted earnings per share are still anticipated between $16.75 and $17.25. The midpoint of the guided range ($17) is above the Zacks Consensus Estimate of $16.91.
Revenues are now anticipated between $3.80 billion and $3.85 billion. The Zacks Consensus Estimate of $3.70 billion is pegged below the guided range.
Interest expenses are now expected between $312 million and $332 million.
Tax rate is expected to be approximately between 26% and 27%.
Currently, FLEETCOR carries a Zacks Rank #4 (Sell).
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed.
Quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
Adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter’s reading. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter’s reading on a reported basis and 10% on an organic constant-currency basis.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, with both earnings and revenues beating the respective Zacks Consensus Estimate. Quarterly adjusted earnings (excluding 84 cents from non-recurring items) per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
Total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.
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FLEETCOR (FLT) Q4 Earnings and Revenues Surpass Estimates
FLEETCOR Technologies, Inc. reported solid fourth-quarter 2022 results as both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding $1.01 from non-recurring items) of $4.04 per share outpaced the Zacks Consensus Estimate by 3.3% and increased 8.6% year over year.
Revenues of $883.6 million beat the Zacks Consensus Estimate by 1.2% and increased 10.1% year over year on a reported basis and 7% on a pro-forma and macro-adjusted basis.
Let’s check out the numbers in detail.
FleetCor Technologies, Inc. Price, Consensus and EPS Surprise
FleetCor Technologies, Inc. price-consensus-eps-surprise-chart | FleetCor Technologies, Inc. Quote
Revenues in Detail
Product-category-wise, fuel revenues of $351.1 million rose 11% year over year on a reported basis and 2% on a pro-forma and macro-adjusted basis.
Corporate Payments revenues of $202 million increased 16% year over year on a reported basis and 20% on a pro-forma and macro-adjusted basis.
Tolls revenues of $97.5 million improved 12% year over year on a reported basis and 6% on a pro-forma and macro-adjusted basis.
Lodging revenues of $119.1 million grew 15% year over year on a reported basis and 14% on a pro-forma and macro-adjusted basis.
Gift revenues of $47.4 million plunged 14% year over year on a reported and 11% on a pro-forma and macro-adjusted basis.
Other revenues of $66.5 million remained unchanged year over year on a reported and surged 3% on a pro-forma and macro-adjusted basis.
Operating Results
Operating income increased 9% from the prior-year quarter’s level to $369.3 million. Operating income margin fell 41.8% from 42.4% in the prior-year quarter.
Balance Sheet & Cash Flow
FLEETCOR exited fourth-quarter 2022 with cash, cash equivalents and restricted cash of $1.44 billion compared with $1.32 billion at the end of the prior quarter.
FLT provided $316.2 million of net cash from operating activities. Capital expenditures totaled $43.8 million.
Q1 Guidance
Revenues are expected to be between $875 million and $890 million. The guided range is above the Zacks Consensus Estimate of $867.57 million.
Adjusted earnings per share is expected to be between $3.55 and $3.75. The Zacks Consensus Estimate of $3.77 per share is pegged above the guided range.
2023 Guidance
Adjusted earnings per share are still anticipated between $16.75 and $17.25. The midpoint of the guided range ($17) is above the Zacks Consensus Estimate of $16.91.
Revenues are now anticipated between $3.80 billion and $3.85 billion. The Zacks Consensus Estimate of $3.70 billion is pegged below the guided range.
Interest expenses are now expected between $312 million and $332 million.
Tax rate is expected to be approximately between 26% and 27%.
Currently, FLEETCOR carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Snapshots
Robert Half International Inc. (RHI - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed.
Quarterly earnings of $1.37 per share beat the Zacks Consensus Estimate by 1.5% but declined 9.3% year over year. Revenues of $1.73 billion missed the Zacks Consensus Estimate by 0.6% and decreased 2.4% year over year.
Automatic Data Processing, Inc. (ADP - Free Report) reported better-than-expected second-quarter fiscal 2023 results.
Adjusted earnings per share of $1.96 beat the Zacks Consensus Estimate by 0.5% and grew 19% from the year-ago fiscal quarter’s reading. Total revenues of $4.4 billion beat the Zacks Consensus Estimate by 0.3% and improved 9.1% from the year-ago fiscal quarter’s reading on a reported basis and 10% on an organic constant-currency basis.
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive third-quarter fiscal 2023 results, with both earnings and revenues beating the respective Zacks Consensus Estimate. Quarterly adjusted earnings (excluding 84 cents from non-recurring items) per share of $1.07 beat the Zacks Consensus Estimate by 4.9% and increased 4.9% on a year-over-year basis.
Total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4% and increased 12.1% on a year-over-year basis.