(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) | (Zip Code) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbols(s) | Name of each exchange on which registered | ||||||
(d) | Exhibits | ||||
FLEETCOR Technologies, Inc. press release dated May 3, 2023 | |||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
FleetCor Technologies, Inc. | ||||||||||||||||||||
May 3, 2023 | By: /s/ Tom Panther | |||||||||||||||||||
Tom Panther | ||||||||||||||||||||
Chief Financial Officer |
Exhibit No. | Description | |||||||
Press release dated May 3, 2023 | ||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
Three Months Ended March 31, | ||||||||||||||||||||
2023 | 2022 | % Change | ||||||||||||||||||
Revenues, net | $ | 901,333 | $ | 789,241 | 14 | % | ||||||||||||||
Expenses: | ||||||||||||||||||||
Processing | 204,967 | 174,194 | 18 | % | ||||||||||||||||
Selling | 81,592 | 76,889 | 6 | % | ||||||||||||||||
General and administrative | 154,684 | 143,522 | 8 | % | ||||||||||||||||
Depreciation and amortization | 84,232 | 76,802 | 10 | % | ||||||||||||||||
Other operating, net | 663 | 113 | NM | |||||||||||||||||
Total operating expense | 526,138 | 471,520 | 12 | % | ||||||||||||||||
Operating income | 375,195 | 317,721 | 18 | % | ||||||||||||||||
Other expenses: | ||||||||||||||||||||
Investment (gain) loss | (190) | 152 | NM | |||||||||||||||||
Other expense, net | 746 | 869 | NM | |||||||||||||||||
Interest expense, net | 79,795 | 22,030 | 262 | % | ||||||||||||||||
Total other expense | 80,351 | 23,051 | 249 | % | ||||||||||||||||
Income before income taxes | 294,844 | 294,670 | — | % | ||||||||||||||||
Provision for income taxes | 80,009 | 76,718 | 4 | % | ||||||||||||||||
Net income | $ | 214,835 | $ | 217,952 | (1) | % | ||||||||||||||
Basic earnings per share | $ | 2.92 | $ | 2.80 | 4 | % | ||||||||||||||
Diluted earnings per share | $ | 2.88 | $ | 2.75 | 5 | % | ||||||||||||||
Weighted average shares outstanding: | ||||||||||||||||||||
Basic shares | 73,521 | 77,737 | ||||||||||||||||||
Diluted shares | 74,483 | 79,286 |
March 31, 2023 | December 31, 2022 | |||||||||||||
(Unaudited) | ||||||||||||||
Assets | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 1,272,456 | $ | 1,435,163 | ||||||||||
Restricted cash | 996,945 | 854,017 | ||||||||||||
Accounts and other receivables (less allowance) | 2,369,235 | 2,064,745 | ||||||||||||
Securitized accounts receivable — restricted for securitization investors | 1,284,000 | 1,287,000 | ||||||||||||
Prepaid expenses and other current assets | 436,336 | 465,227 | ||||||||||||
Total current assets | 6,358,972 | 6,106,152 | ||||||||||||
Property and equipment, net | 310,390 | 294,692 | ||||||||||||
Goodwill | 5,380,050 | 5,201,435 | ||||||||||||
Other intangibles, net | 2,197,587 | 2,130,974 | ||||||||||||
Investments | 67,587 | 74,281 | ||||||||||||
Other assets | 273,337 | 281,726 | ||||||||||||
Total assets | $ | 14,587,923 | $ | 14,089,260 | ||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | $ | 1,907,841 | $ | 1,568,942 | ||||||||||
Accrued expenses | 404,942 | 351,936 | ||||||||||||
Customer deposits | 1,481,004 | 1,505,004 | ||||||||||||
Securitization facility | 1,284,000 | 1,287,000 | ||||||||||||
Current portion of notes payable and lines of credit | 813,066 | 1,027,056 | ||||||||||||
Other current liabilities | 312,692 | 303,517 | ||||||||||||
Total current liabilities | 6,203,545 | 6,043,455 | ||||||||||||
Notes payable and other obligations, less current portion | 4,700,550 | 4,722,838 | ||||||||||||
Deferred income taxes | 544,682 | 527,465 | ||||||||||||
Other noncurrent liabilities | 257,286 | 254,009 | ||||||||||||
Total noncurrent liabilities | 5,502,518 | 5,504,312 | ||||||||||||
Commitments and contingencies | ||||||||||||||
Stockholders’ equity: | ||||||||||||||
Common stock | 128 | 128 | ||||||||||||
Additional paid-in capital | 3,109,065 | 3,049,570 | ||||||||||||
Retained earnings | 7,425,604 | 7,210,769 | ||||||||||||
Accumulated other comprehensive loss | (1,434,016) | (1,509,650) | ||||||||||||
Treasury stock | (6,218,921) | (6,209,324) | ||||||||||||
Total stockholders’ equity | 2,881,860 | 2,541,493 | ||||||||||||
Total liabilities and stockholders’ equity | $ | 14,587,923 | $ | 14,089,260 |
Three Months Ended March 31, | ||||||||||||||
2023 | 2022 | |||||||||||||
Operating activities | ||||||||||||||
Net income | $ | 214,835 | $ | 217,952 | ||||||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||
Depreciation | 25,980 | 21,140 | ||||||||||||
Stock-based compensation | 26,096 | 32,631 | ||||||||||||
Provision for credit losses on accounts and other receivables | 39,270 | 25,478 | ||||||||||||
Amortization of deferred financing costs and discounts | 1,787 | 1,968 | ||||||||||||
Amortization of intangible assets and premium on receivables | 58,252 | 55,662 | ||||||||||||
Loss on write-off of fixed assets | (12) | — | ||||||||||||
Deferred income taxes | (499) | 1,900 | ||||||||||||
Investment (gain) loss | (190) | 152 | ||||||||||||
Other | 675 | 113 | ||||||||||||
Changes in operating assets and liabilities (net of acquisitions): | ||||||||||||||
Accounts and other receivables | 370,962 | (818,969) | ||||||||||||
Prepaid expenses and other current assets | 40,099 | 20,921 | ||||||||||||
Derivative assets and liabilities, net | (28,223) | 6,677 | ||||||||||||
Other assets | 25,141 | (1,146) | ||||||||||||
Accounts payable, accrued expenses and customer deposits | (446,508) | 323,268 | ||||||||||||
Net cash provided by (used in) operating activities | 327,665 | (112,253) | ||||||||||||
Investing activities | ||||||||||||||
Acquisitions, net of cash acquired | (126,691) | (35,864) | ||||||||||||
Purchases of property and equipment | (36,737) | (31,387) | ||||||||||||
Other | 4,401 | — | ||||||||||||
Net cash used in investing activities | (159,027) | (67,251) | ||||||||||||
Financing activities | ||||||||||||||
Proceeds from issuance of common stock | 33,399 | 8,810 | ||||||||||||
Repurchase of common stock | (9,597) | (422,736) | ||||||||||||
Borrowings on securitization facility, net | (3,000) | 318,000 | ||||||||||||
Deferred financing costs paid and debt discount | — | (337) | ||||||||||||
Principal payments on notes payable | (23,500) | (45,063) | ||||||||||||
Borrowings from revolver | 1,964,000 | 490,000 | ||||||||||||
Payments on revolver | (2,490,000) | (400,000) | ||||||||||||
Borrowings on swing line of credit, net | 310,719 | 1,505 | ||||||||||||
Other | 264 | — | ||||||||||||
Net cash used in financing activities | (217,715) | (49,821) | ||||||||||||
Effect of foreign currency exchange rates on cash | 29,298 | 68,068 | ||||||||||||
Net decrease in cash and cash equivalents and restricted cash | (19,779) | (161,257) | ||||||||||||
Cash and cash equivalents and restricted cash, beginning of period | 2,289,180 | 2,250,695 | ||||||||||||
Cash and cash equivalents and restricted cash, end of period | $ | 2,269,401 | $ | 2,089,438 | ||||||||||
Supplemental cash flow information | ||||||||||||||
Cash paid for interest, net | $ | 104,269 | $ | 33,967 | ||||||||||
Cash paid for income taxes, net | $ | 35,442 | $ | 72,296 |
Three Months Ended March 31, | ||||||||||||||
2023 | 2022 | |||||||||||||
Net income | $ | 214,835 | $ | 217,952 | ||||||||||
Stock based compensation | 26,096 | 32,631 | ||||||||||||
Amortization1 | 60,039 | 57,630 | ||||||||||||
Integration and deal related costs | 5,885 | 6,253 | ||||||||||||
Legal settlements/litigation | 344 | 435 | ||||||||||||
Restructuring, related and other2 costs | 1,298 | — | ||||||||||||
Total pre-tax adjustments | 93,662 | 96,949 | ||||||||||||
Income taxes | (25,416) | (25,241) | ||||||||||||
Adjusted net income | $ | 283,081 | $ | 289,660 | ||||||||||
Adjusted net income per diluted share | $ | 3.80 | $ | 3.65 | ||||||||||
Diluted shares | 74,483 | 79,286 |
1 Includes amortization related to intangible assets, premium on receivables, deferred financing costs and debt discounts. | ||
2 Includes impact of foreign currency transactions; prior amounts were not material ($0.4 million) for recast. | ||
*Columns may not calculate due to rounding. |
The following table presents revenue and revenue per key performance metric by segment* | ||||||||||||||||||||||||||||||||||||||||||||||||||
As Reported | Pro Forma and Macro Adjusted2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | % Change | 2023 | 2022 | Change | % Change | |||||||||||||||||||||||||||||||||||||||||||
FLEET | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $372.7 | $351.6 | $21.1 | 6 | % | $364.6 | $352.8 | $11.8 | 3 | % | ||||||||||||||||||||||||||||||||||||||||
'- Transactions | 118.6 | 116.6 | 2.0 | 2 | % | 118.6 | 116.8 | 1.8 | 2 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per transaction | $3.14 | $3.01 | $0.13 | 4 | % | $3.07 | $3.02 | $0.05 | 2 | % | ||||||||||||||||||||||||||||||||||||||||
CORPORATE PAYMENTS | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $227.2 | $183.8 | $43.4 | 24 | % | $234.8 | $197.4 | $37.3 | 19 | % | ||||||||||||||||||||||||||||||||||||||||
'- Spend volume | 36,526 | 27,435 | 9,091 | 33 | % | 36,526 | 29,971 | 6,556 | 22 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per spend $ | 0.62 | % | 0.67 | % | (0.05) | % | (7) | % | 0.64 | % | 0.66 | % | (0.02) | % | (2) | % | ||||||||||||||||||||||||||||||||||
LODGING | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $122.3 | $94.6 | $27.8 | 29 | % | $122.8 | $97.5 | $25.3 | 26 | % | ||||||||||||||||||||||||||||||||||||||||
'- Room nights | 9.4 | 9.0 | 0.4 | 4 | % | 9.4 | 9.1 | 0.2 | 2 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per room night | $13.07 | $10.54 | $2.53 | 24 | % | $13.13 | $10.67 | $2.45 | 23 | % | ||||||||||||||||||||||||||||||||||||||||
BRAZIL | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $121.7 | $102.5 | $19.2 | 19 | % | $121.0 | $102.5 | $18.5 | 18 | % | ||||||||||||||||||||||||||||||||||||||||
'- Tags (average monthly) | 6.5 | 6.1 | 0.4 | 7 | % | 6.5 | 6.1 | 0.4 | 7 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per tag | $18.63 | $16.74 | $1.89 | 11 | % | $18.51 | $16.74 | $1.77 | 11 | % | ||||||||||||||||||||||||||||||||||||||||
OTHER1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $57.3 | $56.8 | $0.6 | 1 | % | $58.2 | $56.8 | $1.4 | 2 | % | ||||||||||||||||||||||||||||||||||||||||
'- Transactions | 298.0 | 293.0 | 5.0 | 2 | % | 298.0 | 293.0 | 5.0 | 2 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per transaction | $0.19 | $0.19 | $0.00 | (1) | % | $0.20 | $0.19 | $0.0 | 1 | % | ||||||||||||||||||||||||||||||||||||||||
FLEETCOR CONSOLIDATED REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $901.3 | $789.2 | $112.1 | 14 | % | $901.4 | $807.1 | $94.3 | 12 | % |
1 Other includes Gift and Payroll Card operating segments. | ||
2 See Exhibit 5 for a reconciliation of Pro forma and Macro Adjusted revenue by solution and metrics, non-GAAP measures, to the GAAP equivalent. | ||
*Columns may not calculate due to rounding. |
Revenues, net by Geography* | Three Months Ended March 31, | ||||||||||||||||||||||
2023 | % | 2022 | % | ||||||||||||||||||||
US | $ | 514 | 57 | % | $ | 472 | 60 | % | |||||||||||||||
Brazil | 122 | 14 | % | 103 | 13 | % | |||||||||||||||||
UK | 108 | 12 | % | 95 | 12 | % | |||||||||||||||||
Other | 158 | 18 | % | 120 | 15 | % | |||||||||||||||||
Consolidated Revenues, net | $ | 901 | 100 | % | $ | 789 | 100 | % |
Revenues, net by Segment* | Three Months Ended March 31, | ||||||||||||||||||||||
2023 | % | 2022 | % | ||||||||||||||||||||
Fleet | $ | 373 | 41 | % | $ | 352 | 45 | % | |||||||||||||||
Corporate Payments | 227 | 25 | % | 184 | 23 | % | |||||||||||||||||
Lodging | 122 | 14 | % | 95 | 12 | % | |||||||||||||||||
Brazil | 122 | 14 | % | 103 | 13 | % | |||||||||||||||||
Other | 57 | 6 | % | 57 | 7 | % | |||||||||||||||||
Consolidated Revenues, net | $ | 901 | 100 | % | $ | 789 | 100 | % |
*Columns may not calculate due to rounding. Segment and solutions reporting have converged to be the same. |
Three Months Ended March 31, | ||||||||||||||||||||
20231 | 2022 | % Change | ||||||||||||||||||
Revenues, net: | ||||||||||||||||||||
Fleet | $ | 372,712 | $ | 351,592 | 6 | % | ||||||||||||||
Corporate Payments | 227,206 | 183,769 | 24 | % | ||||||||||||||||
Lodging | 122,334 | 94,576 | 29 | % | ||||||||||||||||
Brazil | 121,744 | 102,538 | 19 | % | ||||||||||||||||
Other2 | 57,337 | 56,766 | 1 | % | ||||||||||||||||
$ | 901,333 | $ | 789,241 | 14 | % | |||||||||||||||
Operating income: | ||||||||||||||||||||
Fleet | $ | 173,532 | $ | 167,845 | 3 | % | ||||||||||||||
Corporate Payments | 75,513 | 58,207 | 30 | % | ||||||||||||||||
Lodging | 54,563 | 39,779 | 37 | % | ||||||||||||||||
Brazil | 54,817 | 37,328 | 47 | % | ||||||||||||||||
Other2 | 16,770 | 14,562 | 15 | % | ||||||||||||||||
$ | 375,195 | $ | 317,721 | 18 | % | |||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||
Fleet | $ | 35,086 | $ | 34,706 | 1 | % | ||||||||||||||
Corporate Payments | 20,871 | 16,349 | 28 | % | ||||||||||||||||
Lodging | 11,398 | 10,534 | 8 | % | ||||||||||||||||
Brazil | 14,553 | 13,121 | 11 | % | ||||||||||||||||
Other2 | 2,324 | 2,092 | 11 | % | ||||||||||||||||
$ | 84,232 | $ | 76,802 | 10 | % | |||||||||||||||
Capital expenditures: | ||||||||||||||||||||
Fleet | $ | 17,131 | $ | 15,790 | 8 | % | ||||||||||||||
Corporate Payments | 7,795 | 4,488 | 74 | % | ||||||||||||||||
Lodging | 3,377 | 1,692 | 100 | % | ||||||||||||||||
Brazil | 6,888 | 5,978 | 15 | % | ||||||||||||||||
Other2 | 1,546 | 3,439 | (55) | % | ||||||||||||||||
$ | 36,737 | $ | 31,387 | 17 | % |
1Results from Global Reach Group acquired in the first quarter of 2023 are reported in our Corporate Payments segment. | ||
2Other includes Gift and Payroll Card operating segments. |
Revenues, net | Key Performance Metric | ||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||||||||||||||
2023* | 2022* | 2023* | 2022* | ||||||||||||||||||||||||||
FLEET - TRANSACTIONS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 364.6 | $ | 352.8 | 118.6 | 116.8 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (1.3) | — | (0.2) | |||||||||||||||||||||||||
Impact of fuel prices/spread | 10.9 | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | (2.8) | — | — | — | |||||||||||||||||||||||||
As reported | $ | 372.7 | $ | 351.6 | 118.6 | 116.6 | |||||||||||||||||||||||
CORPORATE PAYMENTS - SPEND | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 234.8 | $ | 197.4 | $ | 36,526 | $ | 29,971 | |||||||||||||||||||||
Impact of acquisitions/dispositions | — | (13.7) | — | (2,536) | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | (7.5) | — | — | — | |||||||||||||||||||||||||
As reported | $ | 227.2 | $ | 183.8 | $ | 36,526 | $ | 27,435 | |||||||||||||||||||||
LODGING - ROOM NIGHTS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 122.8 | $ | 97.5 | 9.4 | 9.1 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (2.9) | — | (0.2) | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | (0.5) | — | — | — | |||||||||||||||||||||||||
As reported | $ | 122.3 | $ | 94.6 | 9.4 | 9.0 | |||||||||||||||||||||||
BRAZIL - TAGS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 121.0 | $ | 102.5 | 6.5 | 6.1 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | — | — | — | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | 0.7 | — | — | — | |||||||||||||||||||||||||
As reported | $ | 121.7 | $ | 102.5 | 6.5 | 6.1 | |||||||||||||||||||||||
OTHER1 - TRANSACTIONS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 58.2 | $ | 56.8 | 298.0 | 293.0 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | — | — | — | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | (0.8) | — | — | — | |||||||||||||||||||||||||
As reported | $ | 57.3 | $ | 56.8 | 298.0 | 293.0 | |||||||||||||||||||||||
FLEETCOR CONSOLIDATED REVENUES | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 901.4 | $ | 807.1 | Intentionally Left Blank | ||||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (17.9) | |||||||||||||||||||||||||||
Impact of fuel prices/spread2 | 10.8 | — | |||||||||||||||||||||||||||
Impact of foreign exchange rates2 | (10.9) | — | |||||||||||||||||||||||||||
As reported | $ | 901.3 | $ | 789.2 | |||||||||||||||||||||||||
* Columns may not calculate due to rounding. | |||||||||||||||||||||||||||||
1Other includes Gift and Payroll Card operating segments. | |||||||||||||||||||||||||||||
2 Revenues reflect an estimated $2 million positive impact from fuel prices and approximately $9 million positive impact from fuel price spreads, offset by the negative impact of movements in foreign exchange rates of approximately $11 million. |
Three Months Ended March 31, | ||||||||||||||
2023 | 2022 | |||||||||||||
Net income | $215 | $218 | ||||||||||||
Provision for income taxes | 80 | 77 | ||||||||||||
Interest expense, net | 80 | 22 | ||||||||||||
Other expense (income) | 1 | 1 | ||||||||||||
Investment loss | — | — | ||||||||||||
Depreciation and amortization | 84 | 77 | ||||||||||||
Other operating, net | 1 | — | ||||||||||||
EBITDA | $460 | $395 | ||||||||||||
Revenue | $901 | $789 | ||||||||||||
EBITDA margin | 51.0% | 50.0% | ||||||||||||
Q2 2023 GUIDANCE | ||||||||||||||
Low* | High* | |||||||||||||
Net income | $ | 230 | $ | 246 | ||||||||||
Net income per diluted share | $ | 3.09 | $ | 3.29 | ||||||||||
Stock based compensation | 30 | 30 | ||||||||||||
Amortization | 59 | 59 | ||||||||||||
Other | 6 | 6 | ||||||||||||
Total pre-tax adjustments | 95 | 95 | ||||||||||||
Income taxes | 25 | 25 | ||||||||||||
Adjusted net income | $ | 300 | $ | 316 | ||||||||||
Adjusted net income per diluted share | $ | 4.02 | $ | 4.22 | ||||||||||
Diluted shares | 75 | 75 | ||||||||||||
2023 GUIDANCE | ||||||||||||||
Low* | High* | |||||||||||||
Net income | $ | 993 | $ | 1,033 | ||||||||||
Net income per diluted share | $ | 13.35 | $ | 13.75 | ||||||||||
Stock based compensation | 115 | 115 | ||||||||||||
Amortization | 235 | 235 | ||||||||||||
Other | 18 | 18 | ||||||||||||
Total pre-tax adjustments | 368 | 368 | ||||||||||||
Income taxes | 98 | 98 | ||||||||||||
Adjusted net income | $ | 1,263 | $ | 1,303 | ||||||||||
Adjusted net income per diluted share | $ | 16.95 | $ | 17.35 | ||||||||||
Diluted shares | 75 | 75 | ||||||||||||
*Includes the results of our Russian business. Assuming a June 30, 2023 sale of our Russian business, we expect revenues to be $55 million to $65 million lower, resulting in a $0.30 to $0.40 decline in adjusted net income per diluted share, based on using the sales proceeds for share buybacks over the remainder of the year. Columns may not calculate due to rounding. | ||||||||||||||
Document and Entity Information Document |
May 03, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | May 02, 2023 |
Entity Registrant Name | FLEETCOR Technologies, Inc. |
Entity Central Index Key | 0001175454 |
Amendment Flag | false |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-35004 |
Entity Tax Identification Number | 72-1074903 |
Entity Address, Address Line One | 3280 Peachtree Road, Suite 2400 |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30305 |
City Area Code | 770 |
Local Phone Number | 449-0479 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | FLT |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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