FleetCor Technologies: 4Q Earnings Snapshot
PEACHTREE CORNERS, Ga. (AP) _ FleetCor Technologies Inc. (FLT) on Wednesday reported fourth-quarter net income of $302 million.
On a per-share basis, the Peachtree Corners, Georgia-based company said it had net income of $3.33. Earnings, adjusted for non-recurring gains, came to $2.78 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.
The provider of fuel card and payment products for businesses posted revenue of $643.4 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $619.9 million.
For the year, the company reported profit of $811.5 million, or $8.81 per share. Revenue was reported as $2.43 billion.
For the current quarter ending in April, FleetCor Technologies expects its per-share earnings to range from $2.55 to $2.65.
The company expects full-year earnings in the range of $11.40 to $11.70 per share.
FleetCor Technologies shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $205.22, a climb of almost 1 percent in the last 12 months.