FLEETCOR (FLT) to Report Q3 Earnings: What's in the Offing?
FLEETCOR Technologies, Inc. FLT is scheduled to release its third-quarter 2023 results on Nov 8, 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 1.93%.
Q3 Expectations
The Zacks Consensus Estimate for the top line is currently pegged at $980.1 million, up 9.8% from the year-ago actual figure. Acquisitions and strong demand for EV are likely to have been the reasons for such top-line 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 $4.49, up 5.9% from the year-ago figure. Increasing revenues and cost synergies are likely to have played a part in such an increase.
Segmental Expectations
Our estimate for third-quarter 2023 revenues from the Fleet segment is currently pegged at $405.7 million. Organic growth and increased revenue per transaction can be attributed to such an increase.
The Corporate Payments segment’s revenues are currently pegged at $238.6 million, 21.2% higher than the year-ago reported figure. The growth is likely to have been due to the expected continuation of the healthy demand situation.
The Lodging segment’s revenues are estimated to be $137.8 million, 10.5% higher than the year-ago figure. The Brazil segment’s revenues are pegged at $133.2 million.
Our estimate for adjusted EBITDA for the third quarter is pegged at $539.7 million, indicating 15.7% growth from the year-ago figure. EBITDA margins are expected to be 54.4%.
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 ESP and 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 -0.11% 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.
National CineMedia NCMI currently has an Earnings ESP of +114.29% and a Zacks Rank of 2.
NCMI will release its third-quarter 2023 results on Nov 7. The company’s revenues and earnings are expected to increase 12% and 89% from the prior-year figure, respectively. NCMI has a trailing four-quarter negative average surprise of 18.1%.
Duolingo DUOL currently has an Earnings ESP of 35.9% and a Zacks Rank of 3.
DUOL will release its third-quarter 2023 earnings on Nov 8. The company’s top line and the bottom line are expected to increase 36.8% and 82.6%, respectively, from the prior-year figure. DUOL has beaten the Zacks Consensus Estimate in the past four quarters with an average surprise of 69.5%.
AirSculpt Technologies’ AIRS has an Earnings ESP of +11.11% and a Zacks Rank of 2.
AIRS will release its third-quarter 2023 earnings on Nov 10. The company’s top line and the bottom line are expected to increase 19.7% and more than 100%, respectively, from the prior-year figure. AIRS has a trailing four-quarter negative average surprise of 111.67%.
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National CineMedia, Inc. (NCMI) : Free Stock Analysis Report
FleetCor Technologies, Inc. (FLT) : Free Stock Analysis Report
Duolingo, Inc. (DUOL) : Free Stock Analysis Report
AirSculpt Technologies, Inc. (AIRS) : Free Stock Analysis Report
