FLEETCOR Technologies Lifts FY22 Outlook

(RTTNews) - While reporting its results for the first quarter on Thursday, FLEETCOR Technologies, Inc. (FLT) lifted its full-year 2022 outlook.

Looking forward to full year 2022, the company now expects revenues of $3.335 billion to $3.385 billion, earnings of $12.00 to $12.30 per share and adjusted earnings of $15.45 to $15.75 per share.

Previously, the company expected revenues of $3.190 billion to $3.250 billion, earnings of $11.65 to $12.15 per share and adjusted earnings of $15.00 to $15.50 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $15.49 per share and revenues of $3.26 billion.

"The outlook for the balance of the year remains positive, as we expect fundamental trends from the first quarter to continue. We also expect the macro environment, specifically fuel prices and foreign exchange rates, to be a meaningful tailwind. Our updated expectations do include higher interest expense and a higher tax rate, and on balance we are adjusting our guidance higher, as a net result of these factors," said CFO Charles Freund.