The 10-second takeaway
For the quarter ended March 31 (Q1), FleetCor Technologies beat expectations on both revenue and earnings per share.
Compared to the prior-year quarter, both revenue and GAAP earnings per share increased significantly.
Margins shrank across the board.
FleetCor Technologies booked revenue of $146.2 million. The five analysts polled by S&P Capital IQ expected sales of $142.9 million on the same basis. GAAP-reported sales were 32% higher than the prior-year quarter's $111 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.60. The six earnings estimates compiled by S&P Capital IQ predicted $0.58 per share. GAAP EPS of $0.49 for Q1 were 26% higher than the prior-year quarter's $0.39 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 75.4%, 100 basis points worse than the prior-year quarter. Operating margin was 44.1%, 140 basis points worse than the prior-year quarter. Net margin was 28.8%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $159.8 million. On the bottom line, the average EPS estimate is $0.65.
Next year's average estimate for revenue is $625.9 million. The average EPS estimate is $2.56.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FleetCor Technologies is outperform, with an average price target of $37.83.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.