FleetCor Technologies, Inc. (FLT) Thursday reported first-quarter profit of $64.7 million or $0.77 per share, up from $42.1 million or $0.49 per share in the same period last year.
Adjusted earnings for the quarter was $75.2 million or $0.90 per share. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.83 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 32 percent to $193.7 million from $146.2 million last year. Adjusted revenues for the quarter was $179.8 million. Analysts expected revenues of $182.35 million.
Looking ahead to the fiscal year 2013, the company has raised its adjusted earnings guidance to a range of $3.70 to $3.80 per share, up from $3.61 to $3.69 per share, issued previously.
Revenues are projected in a range of $810 million to $820 million, up from the previous guidance range$790 million to $810 million. Analysts currently expect the company to earn $3.67 per share on revenues of $812.61 million.
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