FLEETCOR Q2 revenue +10% to $948M, adj. EPS up 1% to $4.19; raises FY guidance

CORPAY, INC.

2023-Q2 EPS reported $6.08 revenue$1,849,507,000

Q2 revenue $948.2M (+10% YoY); GAAP EPS $3.20 (-5% YoY); adjusted EPS $4.19 (+1% YoY).
Net income $239.7M fell 9% YoY due to $65M higher interest expense.
FY2023 guidance raised: total revenue $3,836M-$3,860M; adj. EPS $17.09-$17.35.
Q3 guidance: revenue $980M-$1B, adj. EPS $4.44-$4.64.
Entered $2.0B interest rate swaps (avg 4.30%, 3.5yr) to manage floating rate debt.

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