FleetCor Technologies: 2Q Earnings Snapshot
Aug. 02, 2018
PEACHTREE CORNERS, Ga. (AP) _ FleetCor Technologies Inc. (FLT) on Thursday reported second-quarter profit of $176.9 million.
On a per-share basis, the Peachtree Corners, Georgia-based company said it had profit of $1.91. Earnings, adjusted for one-time gains and costs, were $2.57 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The provider of fuel card and payment products for businesses posted revenue of $585 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $595.8 million.
FleetCor Technologies expects full-year earnings in the range of $10.32 to $10.52 per share, with revenue in the range of $2.37 billion to $2.42 billion.
FleetCor Technologies shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $221.80, an increase of 44 percent in the last 12 months.