NYSE$CPAY
Corpay Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
FLEETCOR's Q4 2023 financial results were reported, showing revenue growth and increased net income.
FLEETCOR Technologies, Inc. reported a 6% increase in revenues to $937.3 million and a 14% increase in net income to $255.9 million for the fourth quarter of 2023. The company's adjusted net income per diluted share increased by 10% to $4.44. They are planning to repurchase $800 million of shares in 2024.
- Revenues increased by 6% to $937.3 million compared to Q4 2022.
- Net income increased by 14% to $255.9 million compared to Q4 2022.
- Adjusted net income per diluted share increased by 10% to $4.44 compared to Q4 2022.
- The company plans to repurchase $800 million of shares in 2024.
Headline financials
Revenue & EPS history
Corpay · Revenue · Quarterly
$937M
Revenue by segment
Corpay · $471M total across 3 segments · Q3 2023
- Corporate Payments$259M+31.4%54.9%
- Lodging Payments$141M+12.2%30.0%
- Other$71M—15.1%
Forward guidance
Fleetcor's 2024 outlook includes 20% sales growth, 8-10% organic revenue growth, and mid-teens adjusted net income growth. Volumes and revenue are expected to increase throughout the year.
Tailwinds
- 20% sales growth
- Organic revenue growth of 8% to 10%
- Adjusted net income growth in the mid-teens
- Volumes and revenue should build throughout the year
- Balance sheet is in great shape with low leverage and significant liquidity
Headwinds
- First quarter is impacted by negative impact from higher interest rates
- Decline in late fees from tightened credit creating headwinds to revenue and net income
- Seasonality in the first quarter, causing it to be the lowest in terms of both revenues and net income for the year
- Vehicle payments and lodging tend to have lighter first quarters due to weather and holidays
- Prior year quarter includes the results from the Russia business sold in August 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+1.3%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+1.9%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+12.8%
Q4 2016
Best reaction
-13.3%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.2% | +6.2% | +13.9% | |
| Q4 2025 | +11.6% | +18.7% | +4.7% | |
| Q3 2025 | +6.2% | +11.1% | +18.7% | |
| Q1 2025 | -0.4% | +7.2% | +3.4% | |
| Q4 2024 | +0.2% | -5.0% | -13.6% | |
| Q3 2024 | +4.9% | +7.3% | +4.8% | |
| Q2 2024 | +5.7% | +2.7% | +11.8% | |
| Q1 2024 | -7.1% | -5.6% | -15.0% | |
| Q4 2023 | -7.6% | -5.6% | +2.5% | |
| Q3 2023 | -2.0% | -1.8% | +9.7% | |
| Q2 2023 | +5.4% | +7.6% | +10.2% | |
| Q1 2023 | +8.0% | +11.0% | +13.4% | |
| Q4 2022 | -4.4% | -1.4% | -8.2% | |
| Q3 2022 | -6.7% | -3.4% | +3.7% | |
| Q2 2022 | -0.0% | +2.0% | -6.2% | |
| Q1 2022 | -11.7% | -12.0% | -4.1% | |
| Q4 2021 | +7.1% | +4.8% | -1.9% | |
| Q3 2021 | -0.2% | +2.1% | -14.1% | |
| Q2 2021 | +3.8% | +4.4% | +4.2% | |
| Q1 2021 | -2.2% | -3.3% | -5.4% | |
| Q4 2020 | +1.2% | +1.3% | +11.0% | |
| Q3 2020 | -2.1% | +17.6% | +13.0% | |
| Q2 2020 | -9.3% | -11.5% | -10.3% | |
| Q1 2020 | -0.2% | -5.0% | +17.4% | |
| Q4 2019 | -6.2% | -3.4% | -23.8% | |
| Q3 2019 | +1.7% | -0.3% | +5.5% | |
| Q2 2019 | +9.2% | +10.9% | +13.4% | |
| Q1 2019 | +3.7% | +2.7% | -2.1% | |
| Q4 2018 | +6.5% | +6.1% | +11.2% | |
| Q3 2018 | +9.2% | +7.7% | +4.6% | |
| Q2 2018 | -1.0% | -0.3% | -2.1% | |
| Q1 2018 | -5.0% | -3.4% | -4.7% | |
| Q4 2017 | -6.6% | -4.5% | +3.0% | |
| Q3 2017 | +10.3% | +8.8% | +9.4% | |
| Q2 2017 | -5.8% | -7.6% | -6.7% | |
| Q1 2017 | -2.2% | -5.5% | +2.2% | |
| Q4 2016 | +12.8% | +13.1% | +7.7% | |
| Q3 2016 | -13.3% | -14.4% | -17.0% | |
| Q2 2016 | +5.6% | +6.0% | +9.0% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | +1.5% | — | — | |
| Q3 2015 | +4.5% | — | — | |
| Q2 2015 | +3.1% | — | — | |
| Q1 2015 | -2.5% | — | — | |
| Q4 2014 | +1.8% | — | — | |
| Q3 2014 | +7.6% | — | — | |
| Q2 2014 | -4.1% | — | — | |
| Q1 2014 | +5.5% | — | — | |
| Q4 2013 | +6.9% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | +9.7% | — | — | |
| Q1 2013 | +7.3% | — | — | |
| Q4 2012 | +10.2% | — | — | |
| Q3 2012 | +3.6% | — | — | |
| Q4 2011 | +10.8% | — | — | |
| Q2 2012 | +9.6% | — | — | |
| Q1 2011 | -2.9% | — | — | |
| Q1 2012 | +0.5% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q3 2011 | -2.0% | — | — | |
| Q3 2010 | -2.0% | — | — | |
| Q2 2010 | -2.5% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q4 2010 | -2.5% | — | — |
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