FLEETCOR Technologies, Inc.


SKU: FLT Category:


Fleetcor disclosed a mediocre financial results for Q3, with a below-par revenue of $971 million, reflecting a 9% increase, and an on-par cash EPS of $4.49, up by 6% compared to the previous year. Despite facing a weaker macroeconomic environment than anticipated, the company demonstrated resilience, outperforming the August guidance when excluding the Russia and PayByPhone transactions. Notably, organic revenue growth in Q3 reached an impressive 10%, with the Corporate Payments business maintaining a commendable 20% growth rate. While certain segments experienced a softening, overall trends remained positive, with strong product demand, a 17% increase in new sales, and a stable 91% retention rate. Furthermore, Fleetcor unveiled its Fleet Transformation Plan to propel global fleet business growth to double digits. This three-pronged strategy involves performance improvement through new fleet products, capitalizing on the electric vehicle transition, and expanding into consumer vehicle payments. The company remains optimistic about its 2024 outlook, anticipating neutral to slightly positive macroeconomic conditions, consistent organic revenue growth, and favorable profit drivers.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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