FLEETCOR (FLT) to Report Q2 Earnings: What's in the Offing?
FLEETCOR Technologies, Inc. FLT is scheduled to release its second-quarter 2023 results on Aug 1 before market open.
FLT has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all four trailing quarters, the average surprise being 2.2%.
Q2 Expectations
The Zacks Consensus Estimate for the top line is currently pegged at $945.2 million, up 9.7% from the year-ago actual figure. The company is likely to have benefited from solid new bookings and the expected high organic growth.
FleetCor Technologies, Inc. Price and EPS Surprise
FleetCor Technologies, Inc. price-eps-surprise | FleetCor Technologies, Inc. Quote
The consensus estimate for earnings per share is pegged at $4.18, slightly above the year-ago figure. Increasing revenues are likely to have driven such an increase.
Segmental Expectations
Our estimate for second-quarter 2023 revenues from the Fleet segment is currently pegged at $406.2 million. The uptick is likely to have been due to increased deployment activities.
Our estimate for the Corporate Payments segment’s revenues is currently pegged at $217.6 million, 14.7% higher than the year-ago reported figure. The growth is likely to have been due to the expected continuation of the healthy demand situation. Our estimate for the Lodging segment’s revenues is pegged at $129.2 million, 10.5% higher than the year-ago figure. The Brazil segment’s revenues are pegged at $125.6 million.
Our estimate for adjusted EBITDA for the second quarter is pegged at $464.1 million, indicating 3.4% growth from the year-ago figure. EBITDA margins are expected to be 49.1%.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for FLT this time around. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
FLT has an Earnings ESP of 0.00% and a Zacks Rank of 3.
Stocks to Consider
Here are a few stocks from the broader Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season.
Aptiv APTV currently has a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the bottom line is pegged at $1.03 per share, up more than 100% from the year-ago figure. The consensus mark for revenues is pegged at $4.72 billion, up 16.5% from the figure reported a year ago. APTV had an average negative surprise of 8.1% in the previous four quarters.
APTV has an Earnings ESP of +4.37. The company is scheduled to release its second-quarter earnings on Aug 3.
Rocket Companies RKT currently has a Zacks Rank of 3. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 5 cents per share. In the previous-year quarter, the company reported a loss of 3 cents per share. The consensus mark for revenues is pegged at $983.2 million, down 29.4% from the prior-year reported figure. RKT had an average negative surprise of 127.5% in the previous four quarters.
RKT has an Earnings ESP of +14.29. The company is slated to declare its second-quarter results on Aug 3.
Everi Holdings EVRI currently has a Zacks Rank of 2. The Zacks Consensus Estimate for the bottom line is pegged at 24 cents per share, down 27.3% from the year-ago reported figure. The consensus mark for revenues is pegged at $207.65 million, up 5.3% from the prior-year reported figure. EVRI had an average surprise of 26.8% in the previous four quarters.
EVRI has an Earnings ESP of +2.07. The company is scheduled to declare its second-quarter results on Aug 9.
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