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Press Release: FLEETCOR Reports Fourth Quarter -4-

· 02/04/2021 16:06
Macro Adjusted (In millions except revenues, net per key performance metric) (Unaudited) ------------------------------------------------------------------------------------------------------------------------- The following table presents revenue and revenue per key performance metric by product category.* As Reported Pro Forma and Macro Adjusted(3) ------------------------------------------------- ------------------------------------------------- Three Months Ended December 31, Three Months Ended December 31, ------------------------------------------------- ------------------------------------------------- 2020 2019 Change % Change 2020 2019 Change % Change ----------- ----------- ----------- ---------- ----------- ----------- ----------- ---------- FUEL ------------------- - Revenues, net $ 260.2 $ 299.3 $ (39.1) (13%) $ 270.4 $ 299.3 $ (28.9) (10%) - Transactions 110.4 126.4 (16.0) (13%) 110.4 126.4 (16.0) (13%) - Revenues, net per transaction $ 2.36 $ 2.37 $ (0.01) (0%) $ 2.45 $ 2.37 $ 0.08 3% CORPORATE PAYMENTS ------------------- - Revenues, net(1) $ 115.0 $ 121.4 $ (6.5) (5%) $ 114.4 $ 121.4 $ (7.1) (6%) - Spend volume $17,585 $18,630 $(1,045) (6%) $17,585 $18,630 $(1,044) (6%) - Revenues, net per spend $ 0.65% 0.65% 0.00% 0% 0.65% 0.65% 0.00% 0% TOLLS ------------------- - Revenues, net $ 76.5 $ 93.3 $ (16.8) (18%) $ 100.2 $ 93.3 $ 6.8 7% - Tags (average monthly) 5.6 5.3 0.4 7% 5.6 5.3 0.4 7% - Revenues, net per tag $ 13.61 $ 17.77 $ (4.16) (23%) $ 17.81 $ 17.77 $ 0.05 0% LODGING ------------------- - Revenues, net $ 56.6 $ 64.2 $ (7.6) (12%) $ 56.6 $ 75.0 $ (18.4) (25%) - Room nights 5.8 6.4 (0.6) (9%) 5.8 6.4 (0.6) (9%) - Revenues, net per room night $ 9.78 $ 10.06 $ (0.28) (3%) $ 9.78 $ 11.75 $ (1.97) (17%) GIFT ------------------- - Revenues, net $ 46.4 $ 47.7 $ (1.3) (3%) $ 46.4 $ 47.7 $ (1.3) (3%) - Transactions 331.7 381.5 (49.8) (13%) 331.7 381.5 (49.8) (13%) - Revenues, net per transaction $ 0.14 $ 0.12 $ 0.01 12% $ 0.14 $ 0.12 $ 0.01 12% OTHER(2) ------------------- - Revenues, net(1) $ 62.7 $ 72.9 $ (10.2) (14%) $ 64.3 $ 72.9 $ (8.6) (12%) - Transactions(1) 9.9 14.6 (4.7) (32%) 9.9 14.6 (4.7) (32%) - Revenues, net per transaction $ 6.33 $ 5.00 $ 1.33 27% $ 6.49 $ 5.00 $ 1.49 30% FLEETCOR CONSOLIDATED REVENUES ------------------- - Revenues, net $ 617.3 $ 698.9 $ (81.5) (12%) $ 652.2 $ 709.7 $ (57.4) (8%) (1) Reflects certain reclassifications of revenue between product categories as the Company realigned its corporate payments business, resulting in reclassification of payroll paycard revenue from corporate payments to other. (2) Other includes telematics, maintenance, food, transportation and payroll card related businesses. (3) See Exhibit 5 for a reconciliation of Pro forma and Macro Adjusted revenue by product and metrics, non GAAP measures, to the GAAP equivalent. (*) Columns may not calculate due to rounding. Exhibit 3 Revenues by Geography and Product (In millions) (Unaudited) Revenue by Three Months Ended Geography* December 31, Year Ended December 31, -------------- -------------------------- -------------------------- 2020 % 2019 % 2020 % 2019 % ----- ---- ----- ------ ------ ---- ------ ---- US $ 378 61% $ 421 60% $1,468 61% $1,595 60% Brazil 91 15% 111 16% 344 14% 428 16% UK 70 11% 71 10% 263 11% 275 10% Other 79 13% 96 14% 314 13% 351 13% ---- ---- ---- ------ ----- ---- ----- ---- Consolidated Revenues, net $ 617 100% $ 699 100% $2,389 100% $2,649 100% ==== ==== ==== ====== ===== ==== ===== ==== * Columns may not calculate due to rounding. ---------------------- ---- ---- ------ ----- ---- ----- ---- Revenue by Product Three Months Ended Category*(1) December 31, Year Ended December 31, -------------- -------------------------- -------------------------- 2020 % 2019 % 2020 % 2019 % ----- ---- ----- ----- ------ ---- ------ --- Fuel $ 260 42% $ 299 43% $1,057 44% $1,173 44% Corporate Payments 115 19% 121 17% 434 18% 450 17% Tolls 77 12% 93 13% 292 12% 357 13% Lodging 57 9% 64 9% 207 9% 213 8% Gift 46 8% 48 7% 154 6% 180 7% Other 63 10% 73 10% 244 10% 276 10% ---- ---- ---- ------ ----- ---- ----- ---- Consolidated Revenues, net $ 617 100% $ 699 100% $2,389 100% $2,649 100% ==== ==== ==== ====== ===== ==== ===== ==== * Columns may not calculate due to rounding. ---------------------- ---- ---- ------ ----- ---- ----- ---- (1) Reflects certain reclassifications of revenue between product categories as the Company realigned its corporate payments business, resulting in reclassification of payroll paycard revenue from corporate payments to other. Exhibit 4 Segment Results (In thousands) Three Months Ended December 31, Year Ended December 31, ---------------------------- ------------------------- 2020 2019(1) 2020 2019(1) ------------- ------------- ------------- ---------- (Unaudited) (Unaudited) (Unaudited) Revenues, net: North America $ 405,597 $ 451,002 $ 1,581,547 $1,708,546 Brazil 90,526 112,067 344,248 427,921 International 121,210 135,812 463,060 512,381 --------- --------- --------- --------- $ 617,333 $ 698,881 $ 2,388,855 $2,648,848 ========= ========= ========= ========= Operating income: North America $ 175,693 $ 192,298 $ 547,912 $ 754,528 Brazil 43,593 48,758 148,055 175,642 International 74,653 79,740 276,298 301,260 --------- --------- --------- --------- $ 293,939 $ 320,796 $ 972,265 $1,231,430 ========= ========= ========= ========= Depreciation and amortization: North America $ 40,504 $ 40,770 $ 156,417 $ 160,246 Brazil 12,345 15,622 51,364 64,936 International 11,836 12,118 47,021 49,028 --------- --------- --------- --------- $ 64,685 $ 68,510 $ 254,802 $ 274,210 ========= ========= ========= ========= Capital expenditures: North America $ 12,836 $ 14,215 $ 48,426 $ 44,238 Brazil 6,807 6,057 17,116 18,330 International 3,763 6,218 12,883 12,602 --------- --------- --------- --------- $ 23,406 $ 26,490 $ 78,425 $ 75,170 ========= ========= ========= ========= (1) The Company has historically had two reportable segments, North America and International. In the first quarter of 2020, in order to better align with changes in business models and management reporting, the Company has broken out Brazil as a third segment, which was previously reported in the International segment. The presentation of segment information has been recast for the prior quarter and prior year to align with segment presentation in 2020. Exhibit 5 Reconciliation of Non-GAAP Revenue and Key Performance Metric by Product to GAAP (In millions)

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February 04, 2021 16:06 ET (21:06 GMT)