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FleetCor Technologies beats Street 1Q forecasts

NORCROSS, Ga. (AP) _ FleetCor Technologies Inc. (FLT) on Monday reported first-quarter net income of $123.7 million.

On a per-share basis, the Norcross, Georgia-based company said it had profit of $1.31. Earnings, adjusted for one-time gains and costs, came to $1.96 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.

The provider of fuel card and payment products for businesses posted revenue of $520.4 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $508.9 million.

FleetCor Technologies expects full-year earnings in the range of $8.21 to $8.41 per share, with revenue in the range of $2.17 billion to $2.24 billion.

FleetCor Technologies shares have increased almost 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $148.18, a drop of 4 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLT at https://www.zacks.com/ap/FLT


Keywords: FleetCor Technologies, Earnings Report