FleetCor Q1 Profit Rises; Lifts 2014 Guidance - Quick Facts

(RTTNews) - FleetCor Technologies Inc. (FLT) reported that its first-quarter net income increased to $75.1 million from $64.7 million. Net income per share was $0.88 compared to $0.77. Adjusted net income per share was $1.12, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.07 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased 31% to $253.9 million from $193.7 million in the first quarter of 2013. Analysts expected revenue of $242.61 million for the quarter.

The company expects fiscal 2014 total revenues between $1.075 billion and $1.095 billion, up from previous guidance range of $1.070 billion and $1.090 billion; and adjusted net income per share between $4.97 and $5.07, up from previous guidance range of $4.90 and $5.00. Analysts expect the company to report 2014 profit per share of $4.97 on revenue of $1.09 billion.