FLEETCOR TECHNOLOGIES Reports FY2023 Q2 Earnings Results as of June 30, 2023
August 23, 2023
🌥️Earnings Overview
On August 8, 2023, FLEETCOR TECHNOLOGIES ($NYSE:FLT) released its Q2 FY2023 earnings results for the period ending June 30, 2023. Total revenue for the quarter was USD 948.2 million, a 10.1% increase year-over-year. Net income, however, decreased by 8.6% compared to the same quarter in the preceding year, amounting to USD 239.7 million.
Market Price
The stock opened at $243.8 and closed slightly lower at $244.5, down 0.9% from the closing price of 246.8 the previous day. Overall, FLEETCOR TECHNOLOGIES reported a strong performance in their second quarter earnings results. They saw increases in both revenue and adjusted EPS, which indicates that the company is on track to reach its financial goals for the current fiscal year. Shareholders will be hoping for continued growth in the coming quarters. 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 |
| 3.63k | 928.74 | 25.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fleetcor Technologies. More…
| Operations | Investing | Financing |
| 1.54k | -469.19 | -675.43 |
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 |
| 15.18k | 11.92k | 44.2 |
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 |
| 12.2% | 13.3% | 42.7% |
| FCF Margin | ROE | ROA |
| 37.9% | 31.5% | 6.4% |
Analysis
Analyzing FLEETCOR TECHNOLOGIES‘ fundamentals is something we, GoodWhale, specialize in. According to our Star Chart, FLEETCOR TECHNOLOGIES is strong in terms of assets, growth, and profitability, but weak in terms of dividends. We classify this company as a ‘gorilla’, meaning they have achieved stable and high revenue or earning growth due to a strong competitive advantage. This makes FLEETCOR TECHNOLOGIES a very attractive investment opportunity for investors looking for companies with strong fundamentals. Additionally, FLEETCOR TECHNOLOGIES has a high health score of 8/10, meaning its cashflows and debt are more than sufficient to sustain future operations even in times of crisis. 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
Investors may find FLEETCOR TECHNOLOGIES an attractive option, as the company achieved total revenue of USD 948.2 million for the FY2023 Q2 (ending June 30, 2023), representing a 10.1% increase compared to last year. However, reported net income saw a decrease of 8.6%, coming in at USD 239.7 million. It’s important to note the company’s outlook, management’s strategy, and new developments before investing in FLEETCOR TECHNOLOGIES. Analyzing their financials, competitors, and industry trends can help investors assess the potential risks and rewards of investing in this stock.
