March 27, 2017 6:03 PM ET

IT Services

Company Overview of FleetCor Technologies, Inc.

Company Overview

FleetCor Technologies, Inc. provides fuel cards, commercial payment and data solutions, gift card and stored value solutions, and workforce payment products and services primarily in the United States, Brazil, and the United Kingdom. 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; and workforce payment products related...

5445 Triangle Parkway

Suite 400

Norcross, GA 30092

United States

Founded in 1986

7,100 Employees

Phone:

770-449-0479

Fax:

770-449-3471

Key Executives for FleetCor Technologies, Inc.

Chairman of the Board, Chief Executive Officer and President
Age: 59
Total Annual Compensation: $1.0M
Chief Financial Officer and Secretary
Age: 56
Total Annual Compensation: $344.2K
President of Brazil
Age: 47
Total Annual Compensation: $490.6K
President of International Partners
Age: 57
Total Annual Compensation: $340.1K
President of Comdata North America Trucking and CLC Lodging
Age: 53
Total Annual Compensation: $210.4K
Compensation as of Fiscal Year 2015.

FleetCor Technologies, Inc. Key Developments

First Data and FLEETCOR Technologies Inc. Forms Joint Venture

First Data and FLEETCOR Technologies Inc. announced the formation of a joint venture that will consolidate their various gift solutions to drive new value for their clients. The new joint venture combines the gift card businesses of both companies. This includes First Data’s core gift card business, Transactions Wireless, Inc.™, and Gyft®, along with FLEETCOR’s Stored Value Solutions (SVS) prepaid card services and gift card program management assets. The new entity will provide clients with broader international reach and a more robust end-to-end offering. The combined revenue of the businesses that are to be contributed to the joint venture by both companies was $362 million in 2016. First Data will own 57.5% of the joint venture and FLEETCOR will own 42.5%. The First Data-FLEETCOR joint venture capitalizes on that growing marketplace, creating new ways to help merchants expand their gift programs to leverage the evolution of consumer gifting habits. For example, in First Data’s 2016 Consumer Insights Study, respondents indicated they self-purchased gift cards more frequently, suggesting an expansion of traditional gift card application. The collective solution capabilities of First Data and FLEETCOR will include traditional services and provide expanded choice for clients and partners seeking digital gift card distribution. The joint venture will focus on supporting clients with digital gifting needs, from selling gift cards on their own websites, to using gift cards to drive promotions, to selling and reloading gift cards online at gyft.com. In addition to helping issuers manage their prepaid programs, the joint venture will help clients acquire new customers, reward existing ones, distribute the merchant’s cards digitally, lower the risk of fraud, and reduce the total cost of payment acceptance. The transaction is subject to regulatory approval and other customary closing conditions. Davis Polk & Wardwell LLP provided legal counsel to First Data; Alston & Bird provided legal counsel to FLEETCOR.

FleetCor Technologies, Inc. Presents at The Raymond James 38th Annual Institutional Investors Conference 2017, Mar-06-2017 08:40 AM

FleetCor Technologies, Inc. Presents at The Raymond James 38th Annual Institutional Investors Conference 2017, Mar-06-2017 08:40 AM. Venue: JW Marriott Grande Lakes, 4040 Central Florida Pkwy, Orlando, Florida, United States. Speakers: Eric R. Dey, Chief Financial Officer and Secretary.

FleetCor Technologies, Inc. Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter and Year of 2017

FleetCor Technologies, Inc. reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company’s total revenues increased 20% to $515.0 million compared to $430.6 million in the fourth quarter of 2015. GAAP net income increased 81% to $95.4 million compared to $52.8 million in the fourth quarter of 2015. Included in the fourth quarter of 2016 and 2015 were non-cash impairment charges related to minority investment in Masternaut of $36 million and $40 million, respectively. Also, included in GAAP net income was non-cash stock based compensation expense of $13.9 million and $45.7 million in the fourth quarter of 2016 and 2015, respectively. GAAP net income per diluted share increased 79% to $1.00 compared to $0.56 per diluted share in the fourth quarter of 2015. Adjusted revenues increased 21% to $489.4 million compared to $403.1 million in the fourth quarter of 2015. Adjusted net income increased 13% to $180.5 compared to $160.2 million in the fourth quarter of 2015. Adjusted net income per diluted share increased 12% to $1.90 compared to $1.70 in the fourth quarter of 2015. The company reported operating income of $216.0 million compared to $146.2 million and income before income taxes of $153.5 million compared to $85.7 million for the last year. For the year, the company’s total revenues increased 8% to $1,831.5 million compared to $1,702.9 million in 2015. GAAP net income increased 25% to $452.4 million in 2016 compared to $362.4 million in 2015. Included in 2016 and 2015 were non-cash impairment charges related to minority investment in Masternaut of $36 million and $40 million, respectively. Also, included in GAAP net income was non-cash stock based compensation expense for 2016 and 2015 of $64 million and $90 million, respectively. GAAP net income per diluted share increased 23% to $4.75 in 2016 compared to $3.85 per diluted share in 2015. Adjusted revenues increased 8% to $1,727.2 million in 2016 compared to $1,594.6 million in 2015. Adjusted net income increased 11% to $659.2 million in 2016 compared to $592.6 million in 2015. Adjusted net income per diluted share increased 10% to $6.92 in 2016 compared to $6.30 in 2015. The company reported operating income of $754.2 million compared to $1667.5 million and income before income taxes of $642.9 million compared to $536.0 million for the last year. The company provided earnings guidance for the first quarter and year of 2017. For the year 2017, the company expected total revenues between $2,170 million and $2,230 million; GAAP net income between $550 million and $570 million; GAAP net income per diluted share between $5.78 and $5.98; Adjusted net income between $770 million and $790 million; and Adjusted net income per diluted share between $8.10 and $8.30. Full year tax rate of approximately 29.5% for 2017 compared to 28.0% in 2016, excluding losses from minority investment. For the first quarter, the company expected net income in the range of $118 million to $124 million, net income per diluted share in the range of $1.34 to $1.30, amortization of intangibles at equity method investment of $3 million, adjusted net income in the range of $173 million to $179 million and adjusted net income per diluted share in the range of $1.82 and $1.88.

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