Key Developments: Fleetcor Technologies Inc (FLT)
82.54USD
24 May 2013
$0.48 (+0.58%)
$82.06
$81.65
$82.95
$81.12
575,529
871,290
$85.56
$33.73
Latest Key Developments (Source: Significant Developments)
Fleetcor Technologies Inc Raises FY 2013 Guidance
Fleetcor Technologies Inc raised fiscal 2013 guidance and expects revenues, net between $810 million and $820 million, up from previous guidance range of $790 million to $810 million, adjusted net income between $310 million and $320 million, up from previous guidance range of $300 million to $310 million and adjusted net income per diluted share between $3.70 and $3.80, up from previous guidance range of $3.61-$3.69. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $813 million, net income of $306 million and EPS of $3.67 for fiscal 2013. Full Article
Fleetcor Technologies Inc Acquires GE Capital’s Fuel Card Business In Australia
Fleetcor Technologies Inc announced that it has acquired certain fuel card assets from GE Capital Australia's Custom Fleet leasing business. Terms of the transaction and processing agreement were not disclosed. Full Article
Fleetcor Technologies Inc Announces Acquisition from Telenav Inc
Fleetcor Technologies Inc announced that it has signed definitive documents to acquire a mobile business, that tracks the location of mobile workers in field based businesses. The agreement includes the acquisition of Telenav Inc's enterprise business. The enterprise division being acquired has approximately 8,000 business clients, and a marketing relationship with AT&T, Sprint and Verizon. The division's flagship product line is a set of mobile handset applications (compatible with both Apple and Android) that provide mobile workforces with tracking and other productivity tools. Terms of the transaction were not disclosed. Full Article
Fleetcor Technologies Inc Announces Commencement Of Secondary Offering By Selling Stockholders
Fleetcor Technologies Inc announced underwritten offering of 4.5 million shares of FleetCor common stock by selling stockholders has been commenced by the underwriter to purchasers in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. FleetCor will not sell any shares in the offering and will not receive any proceeds from the offering. Citigroup is acting as sole underwriter for the offering. Full Article
Fleetcor Technologies Inc Announces Secondary Offering by Selling Stockholders
Fleetcor Technologies Inc announced that selling stockholders have agreed to sell 4.5 million shares of FleetCor common stock in an underwritten offering. FleetCor will not sell any shares in the offering and will not receive any proceeds from the offering. Citigroup will act as sole underwriter for the offering. Full Article
Fleetcor Technologies Inc Issues FY 2013 Guidance Above Analysts' Estimates
Fleetcor Technologies Inc announced that for fiscal 2013, it expects revenue between $790 million and $810 million, adjusted net income between $300 million and $310 million and adjusted net income per diluted share (EPS) between $3.61-$3.69. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $776 million, net income of $285 million and EPS of $3.40 for fiscal 2013. Full Article
Fleetcor Technologies Inc Concludes Repurchase Of 3.85 Million Shares of Common Stock
Fleetcor Technologies Inc announced that it has completed its previously announced purchase of approximately 3.85 million shares of FleetCor common stock at $51.91 per share pursuant to a share repurchase agreement with certain of its private equity shareholders associated with Summit Partners and Bain Capital. Full Article
Fleetcor Technologies Inc Announces Commencement Of Secondary Offering By Selling Stockholders And Repurchase Of Common Stock
Fleetcor Technologies Inc announced that the previously announced underwritten offering of 4.5 million shares of FleetCor common stock by selling stockholders has been commenced by the underwriter to purchasers in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. FleetCor will not sell any shares in the offering and will not receive any proceeds from the offering. Citigroup is acting as sole underwriter for the offering. In addition, FleetCor has entered into a share repurchase agreement with certain of the selling stockholders pursuant to which it intends to repurchase up to 4 million additional shares of its common stock for up to $200 million from such selling stockholders concurrently with the closing of the underwritten offering of 4.5 million shares. The share repurchase will be effected in a private transaction at a price per share equal to the price paid by the underwriterin the underwritten offering.FleetCor expects to fund the purchases with borrowings under its credit facilities. The closing of the share repurchase is contingent on the closing of the offering. The closing of the offering is not contingent on the closing of the share repurchase. Full Article
Fleetcor Technologies Inc Raises FY 2012 Guidance
Fleetcor Technologies Inc raised fiscal 2012 guidance and expects revenues, net between $678-$682 million, up from previous guidance range of $665-$675 million, adjusted net income between $248-$251 million, up from previous guidance range of $235-$240 million and adjusted net income per diluted share (EPS) between $2.89-$2.91, up from previous guidance range of $2.74-$2.78. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $670 million, net income of $237 million and EPS of $2.78 for fiscal 2012. Full Article
Fleetcor Technologies Inc Announces Expansion of Credit Agreement to $1.4 Billion
Fleetcor Technologies Inc announced that on November 6, 2012, it increased the size of its loan facilities by $500 million. The upsized credit facility totals $1.4 billion and consists of a $550 million term loan facility and an $850 million revolving credit facility, with an option to increase the facility by an additional $250 million. The interest rates on the upsized facility will remain unchanged. FleetCor anticipates using the increased facility primarily to help fund future acquisitions, for working capital and other general corporate purposes, including to potentially fund share repurchases from certain of its significant legacy investors. Full Article
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