FleetCor Technologies, Inc. provides fuel cards and workforce payment products and services in North America, Latin America, Europe, Australia, and New Zealand. It sells a range of customized fleet and lodging payment programs; and offers card products to purchase fuel, lodging, food, toll, transportation, and related products and services at participating locations. The company also offers telematics solution that allows fleet operators to monitor the capacity utilization and movement of vehicles and drivers; vehicle maintenance services; prepaid fuel and food vouchers, and cards to small, medium, and large businesses; and workforce payment product related to public transportation and toll ...
5445 Triangle Parkway
Norcross, GA 30092
Founded in 1986
FleetCor Technologies, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2014; Revises Earnings Guidance for the Fiscal Year 2015; Provides Earnings Guidance for the First Quarter and Second Quarter of 2015
Feb 5 15
FleetCor Technologies, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended Dec. 31, 2014. For the quarter, the company reported revenues, net of $376,697,000, operating income of $172,622,000, income before income taxes of $140,303,000, net income of $109,540,000 or $1.21 per basic share compared to the revenues, net of $255,501,000, operating income of $106,050,000, income before income taxes of $100,077,000, net income of $68,120,000 or $0.8 per basic share for the same quarter a year ago. Adjusted EBITDA was $210,422,000 compared to $130,208,000 a year ago. Adjusted net income was $125,822,000 or $1.39 per diluted share compared to $92,078,000 or $1.08 per diluted share a year ago.
For the year, the company reported revenues, net of $1,199,390,000, operating income of $565,449,000, income before income taxes of $512,943,000, net income of $368,707,000 or $4.24 per basic share compared to the revenues, net of $895,171,000, operating income of $420,632,000, income before income taxes of $403,569,000, net income of $284,501,000 or $3.36 per basic share for the previous year. Net cash provided by operating activities was $608,334,000 compared to $375,685,000 a year ago. Purchases of property and equipment were of $27,070,000 compared to $20,785,000 a year ago. Adjusted EBITDA was $677,810,000 compared to $493,369,000 a year ago. Adjusted net income was $447,670,000 or $5.15 per diluted share compared to $342,680,000 or $4.05 per diluted share a year ago.
For the fiscal year 2015, the company expects total revenues between $1,600 million and $1,650 million, adjusted net income between $560 million and $580 million, Adjusted net income per diluted share between $5.95 and $6.15. The company expects tax rate of 32.1%. The company previously expecting the 2015 macroenvironment to create approximately a $0.20 headwind to 2015 guidance. But since that time, fuel prices, foreign exchange rates and market spread assumptions have continued to worsen, adding an incremental $0.80 headwind to 2015 plan. However, despite this, the company has reduced guidance by only $0.30 from $6.35 to $6.05 at the midpoint and expect to offset the additional $0.50 by accelerating Comdata's cost and price synergies, implementing some price recovery initiatives and relying on better 2014 exit rates or better fundamentals in the business.
The company provided earnings guidance for the first quarter and second quarter of 2015. For the first quarter, the company expects adjusted net income per diluted share to be between $1.38 and $1.42.
For the second quarter, the company expects adjusted net income per diluted share to be similar to the first quarter, and the second quarter excludes any impact related to SVS.