FLEETCOR (FLT) Q1 Earnings & Revenues Beat, 2019 View Up
Zacks Investment Research | May 08, 2019 07:47AM ET
FLEETCOR Technologies, Inc. (NYSE:FLT) reported strong first-quarter 2019 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of $2.67 per share outpaced the consensus estimate by 5 cents and increased 6.8% year over year. Notably, the reported figure exceeded the company guided range of $2.55-$2.65 per share.
Revenues of $621.83 million beat the consensus mark by $16.2 million and increased 6.2% year over year on a reported basis and 11% on a pro-forma and macro adjusted basis.
Organic revenue growth was 11% in the reported quarter, driven by solid double-digit growth across the company’s product categories – fuel, corporate payments, tolls and lodging. Its fuel card business was up 10%, corporate payments increased 18%, toll business grew 15% and lodging business increased 6% organically.
So far this year, shares of FLEETCOR have gained 33.9% compared with 27.2% rise of the Zacks Investment Research
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