FleetCor Technologies: 3Q Earnings Snapshot

PEACHTREE CORNERS, Ga. (AP) _ FleetCor Technologies Inc. (FLT) on Tuesday reported third-quarter profit of $157.7 million.

On a per-share basis, the Peachtree Corners, Georgia-based company said it had profit of $1.71. Earnings, adjusted for amortization costs and pretax expenses, came to $2.68 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.67 per share.

The provider of fuel card and payment products for businesses posted revenue of $619.6 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $615.4 million.

FleetCor Technologies expects full-year earnings to be $7.50 to $7.60 per share, with revenue in the range of $2.39 billion to $2.42 billion.

FleetCor Technologies shares have fallen almost 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $185.23, an increase of 12 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLT at https://www.zacks.com/ap/FLT