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Mar 31, 2022
Corpay Q1 2022 Earnings Report
FLEETCOR reported strong Q1 2022 results, driven by core trends and broad-based strength.
Key Takeaways
FLEETCOR Technologies reported an outstanding first quarter with a 30% increase in total revenues to $789.2 million and a 29% increase in adjusted net income per share. Strong organic revenue growth of 15% was driven by new sales and customer retention.
Total revenues increased 30% to $789.2 million.
Net income increased 18% to $218.0 million.
Adjusted net income increased 20% to $289.7 million.
Organic revenue growth remained strong at 15%.
Corpay
Corpay
Corpay Revenue by Segment
Corpay Revenue by Geographic Location
Revenue by Segment
Corporate Payments Revenue
CapyFin.comLodging Payments Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
US Revenue
CapyFin.comBrazil Revenue
CapyFin.comUK Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company updated its fiscal year 2022 financial guidance with total revenues between $3,335 million and $3,385 million and adjusted net income per diluted share between $15.45 and $15.75.
Positive Outlook
- Expect fundamental trends from the first quarter to continue.
- Expect the macro environment, specifically fuel prices and foreign exchange rates, to be a meaningful tailwind.
- Total revenues between $3,335 million and $3,385 million.
- Net income between $950 million and $980 million.
- Adjusted net income between $1,225 million and $1,255 million.
Challenges Ahead
- Higher interest expense.
- A higher tax rate.
- Weighted average U.S. fuel prices equal to $3.90 per gallon for the balance of the year.
- Tax rate of 26% to 27%.
- Includes revenue and adjusted EPS from our fuel business in Russia, of $67 million and $0.63 for the year, respectively.
Revenue & Expenses
Visualization of income flow from segment revenue to net income