FLEETCOR TECHNOLOGIES Reports Earnings Results for Q3 of FY2023
November 22, 2023
🌥️Earnings Overview
On November 8 2023, FLEETCOR TECHNOLOGIES ($NYSE:FLT) released their financial results for the third quarter of fiscal year 2023, which ended on September 30 2023. Total revenue was reported at USD 970.9 million, representing an 8.7% increase from the same quarter in the prior year. Net income was USD 271.5 million, demonstrating a 9.1% growth from Q3 of 2023.
Stock Price
On Wednesday, FLEETCOR TECHNOLOGIES reported its earnings results for the third quarter of FY2023. The company’s stock opened at $232.7 and closed at $235.5, representing a 0.9% increase from its last closing price of 233.4. This was driven by a combination of organic growth, acquisitions and new customer wins.
This dividend increase, along with the strong earnings results, could help to drive further increases in the company’s stock price in the coming weeks and months. The stock closed the day up 0.9% from its last closing price, and the dividend increase could help to drive further increases in the company’s share price in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fleetcor Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 3.7k | 951.35 | 25.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fleetcor Technologies. More…
| Operations | Investing | Financing |
| 1.22k | -446.24 | -772.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fleetcor Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 15.26k | 12.21k | 42.37 |
Key Ratios Snapshot
Some of the financial key ratios for Fleetcor Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.5% | 17.0% | 43.7% |
| FCF Margin | ROE | ROA |
| 28.6% | 32.0% | 6.6% |
Analysis
GoodWhale has analyzed the fundamentals of FLEETCOR TECHNOLOGIES and classifies it as a ‘gorilla’ – a company that has achieved a stable and high revenue or earnings growth due to its strong competitive advantage. This makes FLEETCOR TECHNOLOGIES an attractive investment opportunity for investors seeking strong, steady returns. We have also determined that FLEETCOR TECHNOLOGIES has a high health score of 8/10, indicating that it has a good track record in regards to its cashflows and debt and is capable of sustaining future operations in times of crisis. Additionally, FLEETCOR TECHNOLOGIES is strong in asset, growth, and profitability, though it is weak in dividend. With these strong fundamentals, investors looking for a reliable and profitable long-term investment should consider FLEETCOR TECHNOLOGIES. More…
Peers
The company operates in North America, Europe, and Asia Pacific. Fleetcor serves customers in the transportation, oil and gas, grocery, and travel industries. The company’s competitors include Evertec Inc, Splitit Payments Ltd, Nexi SpA.
– Evertec Inc ($NYSE:EVTC)
Evertec Inc is a provider of transaction processing services in Latin America and the Caribbean. The company has a market cap of 2.19B as of 2022 and a Return on Equity of 24.84%. Evertec Inc operates in three segments: Merchant Acquiring, Payment Processing and Commercial Services. The company offers a range of services, including credit and debit card processing, electronic bill payment processing, check processing, money transfer services and other value-added services. Evertec Inc serves a diversified base of customers, including financial institutions, retailers, government agencies and utility companies.
– Splitit Payments Ltd ($ASX:SPT)
Splitit Payments Ltd is a provider of installment payment solutions. The company offers its services to merchants and retailers who wish to provide their customers with the ability to pay for goods and services in installments. Splitit Payments Ltd has a market cap of 71.81M as of 2022. The company’s Return on Equity for the same period is -45.58%.
– Nexi SpA ($OTCPK:NEXPF)
Nexi SpA is a publicly traded company that provides payment processing services in Italy. As of 2022, the company had a market capitalization of 11.24 billion euros and a return on equity of 2.01%. The company offers a range of services including credit and debit card processing, e-commerce solutions, and point-of-sale financing.
Summary
Investing in FLEETCOR TECHNOLOGIES is attractive due to their impressive financial performance for Q3 FY2023. The company reported total revenue of USD 970.9 million, an 8.7% increase from the same time last year. Net income rose to USD 271.5 million, a 9.1% increase from the same period in 2023.
Investors should consider the company’s disciplined approach to managing finances and their growing revenue, which has consistently grown year-on-year. This demonstrates their potential for continued growth and makes them an attractive option for investors looking for strong returns.
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