Loading...
•
Dec 31, 2022
Corpay Q4 2022 Earnings Report
Corpay's Q4 2022 financial performance was marked by revenue growth and adjusted net income, driven by favorable sales and retention trends.
Key Takeaways
FLEETCOR Technologies reported a 10% increase in revenue to $883.6 million for Q4 2022. Net income remained relatively flat at $225.3 million, while adjusted net income decreased by 2% to $300.2 million. The company's full-year performance for 2022 was strong, with a 21% increase in revenue and a 22% increase in adjusted earnings per share.
Revenues increased by 10% to $883.6 million compared to Q4 2021.
Net income was $225.3 million, consistent with the $225.0 million reported in Q4 2021.
Adjusted net income decreased by 2% to $300.2 million compared to Q4 2021.
Adjusted net income per diluted share increased by 9% to $4.04.
Corpay
Corpay
Corpay Revenue by Segment
Corpay Revenue by Geographic Location
Revenue by Segment
Vehicle Payments Revenue
CapyFin.comCorporate 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
FLEETCOR Technologies, Inc. anticipates delivering organic revenue growth of 9% to 11% for the full year 2023, with EBITDA growing faster. The company expects first quarter revenues between $875 million and $890 million, and adjusted net income per diluted share between $3.55 and $3.75.
Positive Outlook
- Targeted organic revenue growth of 9% to 11% for 2023.
- EBITDA is expected to grow faster than revenue.
- Sales growth of approximately 15%.
- Volumes and revenue should build throughout the year.
- Benefit from growth investments, acquisitions and seasonality.
Challenges Ahead
- Significantly higher interest rates on floating rate debt are a headwind to net income in the first quarter of 2023.
- Company has historically experienced seasonality in the first quarter.
- Fuel, lodging and tolls tend to have lighter first quarters due to weather and holidays.
- Weighted average U.S. fuel prices equal to $4.00 per gallon.
- Market spreads flat with the 2022 average.
Revenue & Expenses
Visualization of income flow from segment revenue to net income