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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.
Corpay
Corpay
Corpay Revenue by Segment
Revenue by Segment
Corporate Payments Revenue
CapyFin.comLodging Payments Revenue
CapyFin.comOther Revenue
CapyFin.com 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.
- Unprecedented conditions across all markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income