FLEETCOR Technologies: A Story Of Improved Client Retention & Service Adoption!

FLEETCOR Technologies Inc. has reported mixed results for Q4 and full year 2023. Revenue for Q4 reached $937 million, registering a 6% upsurge; while cash EPS recorded a rise of 10% at $4.44, and EBITDA was approximately $500 million, 11% higher than the previous period. While revenue was weaker than expected during the quarter, earnings were stronger due to a reduction in credit losses, realizing only half of the previous year’s levels. Certain areas of revenue weakness were identified, including delays in gift card shipments, reduced income from North America fleet late fees, continued softness in distress passenger services in lodging due to low airline cancellations, and a slower finish in Corporate Payments. However, the company anticipates these issues to be either timing-related or have already bottomed out.