Free Research Report as FLEETCOR’s Revenue Jumped 19%; EPS Soared 60.4%

LONDON, UK / ACCESSWIRE / December 11, 2017 / Active-Investors free earnings report on FleetCor Technologies, Inc. (NYSE: FLT) ("FleetCor") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=FLT. FleetCor reported its third quarter fiscal 2017 operating results on November 01, 2017. The provider of fuel card and payment products for businesses outperformed top- and bottom-line expectations and raised its guidance for FY17 and share repurchase program. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, FleetCor Technologies most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=FLT

Earnings Highlights and Summary

For its third quarter ended September 30, 2017, FleetCor's total revenues advanced 19.3% to $577.9 million compared to $484.4 million in Q3 2016, beating analysts' expectations of $566.2 million. For the reported quarter, the Company's adjusted revenues (net revenues less merchant commissions) increased 20.6% to $550.2 million compared to to $456.2 million in the prior year's same quarter.

During Q3 2017, FleetCor's revenue from its North American segment increased 5% to $364.4 million from $345.9 million in Q3 2016. Excluding the NexTraq business, which was sold in July 2017, from both the 2016 and 2017 results, revenue growth in the Company's North America segment would have been 9%. FleetCor's revenue from its International segment soared 54% to $213.4 million from $138.6 million in the prior year's corresponding quarter.

FleetCor's net income surged 56.5% to $202.8 million in Q3 2017 compared to $129.6 million in Q3 2016. The Company's net income per diluted share soared 60.4% to $2.18 in the reported quarter versus $1.36 per diluted share in the prior year's comparable quarter.

FleetCor's adjusted net income increased 10.6% to $202.8 million in Q3 2017 compared to $183.3 million in Q3 2016. The Company's adjusted net income per diluted share advanced 13.4% to $2.18 in the reported quarter compared to $1.92 per diluted share in the prior year's same quarter, and also came in ahead of Wall Street's estimates of $2.15 per share.

Cash Matters

FleetCor ended Q3 2017, with $1.02 billion in total cash, out of which approximately $184 million was restricted and consists primarily of customer deposits. As of September 30, 2017, the Company had $2.69 billion outstanding on its Term A loan, $350 million outstanding on Term B loan and $673 million drawn on FleetCor's revolver, leaving $612 million of undrawn availability.

As of September 30, 2017, FleetCor's leverage ratio was 2.53x EBITDA, which is well below the Company's covenant level of 4.0x EBITDA. FleetCor intends to use future excess cash flow to temporarily pay down the balance on its revolving credit facility and securitization facility and maintain liquidity for acquisition and other corporate purposes.

Share Repurchase Program

FleetCor's Board of Directors authorized a $350 million increase in the size of the Company's previously announced share repurchase program. With the increase, and giving effect to the Company's $590 million of previous repurchases, FleetCor may repurchase up to $510 million in shares of its common stock at any time prior to February 01, 2019. In total, the Company purchased 2.4 million shares in Q3 2017 and a total of 4.1 million shares of common stock since the beginning of the program.

Outlook

For 2017, FleetCor is forecasting total revenues between $2.23 billion and $2.26 billion. The Company expects GAAP net income in the range of $608 million to $618 million and GAAP net income per diluted share between $6.50 and $6.60. FleetCor is estimating adjusted net income in the band of $784 million and $794 million, and adjusted net income per diluted share between $8.38 and $8.48. The Company's guidance represents approximately a 22% growth in both revenue and adjusted net income per diluted share for the year at the midpoint of the range.

Stock Performance Snapshot

December 08, 2017 - At Friday's closing bell, FleetCor's stock was slightly up 0.38%, ending the trading session at $186.43.

Volume traded for the day: 559.35 thousand shares.

Stock performance in the last month – up 5.96%; previous three-month period – up 27.60%; past twelve-month period – up 21.50%; and year-to-date – up 31.73%

After last Friday's close, FleetCor's market cap was at $16.58 billion.

Price to Earnings (P/E) ratio was at 31.70.

The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.5% at the end of the session.

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