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Mar 31, 2020
Corpay Q1 2020 Earnings Report
FLEETCOR's Q1 2020 financial results were reported, showing revenue growth offset by a decrease in net income due to a one-time loss.
Key Takeaways
FLEETCOR Technologies reported a 6% increase in total revenues to $661.1 million for Q1 2020, compared to $621.8 million in Q1 2019. However, net income decreased by 15% to $147.1 million, primarily due to a $90.1 million one-time loss related to a customer receivable in the foreign currency trading business. Adjusted net income per diluted share increased by 12% to $3.00.
Total revenues increased by 6% to $661.1 million.
Net income decreased by 15% to $147.1 million, impacted by a one-time loss.
Adjusted net income increased by 11% to $264.5 million.
Adjusted net income per diluted share increased by 12% to $3.00.
Revenue by Segment
Forward Guidance
Due to the unprecedented conditions across all markets, FLEETCOR has decided to suspend its full-year 2020 guidance. The company expects the second quarter to be the lowest in terms of volume and revenue, with a recovery expected in the third and fourth quarters.
Positive Outlook
- Business activity is expected to recover throughout the year.
- Volumes should build throughout the year.
- Higher revenue is expected in the third and fourth quarters.
- Earnings are expected to be higher in the third and fourth quarters.
- Closely monitoring the impact of the COVID-19 outbreak
Challenges Ahead
- Full-year 2020 guidance has been suspended.
- There is too much uncertainty regarding the resumption of business activity.
- Volumes in the second quarter are expected to be the lowest.
- Revenue in the second quarter is expected to be the lowest.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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