Fleet card provider Fleetcor Technologies Inc. on Nov. 9 reported third quarter net revenues of $134.2 million, up 20.1% from $111.7 million during the same period ended Sept. 30 last year. Net income was up 21.3%, to $40.5 million from $33.4 million.
Regionally, North American customers used the company’s cards to initiate 39.9 million transactions. At $2.33 per transaction, net revenues in the region totaled $93 million. That compares with $74.8 million earned from 39 million transactions that earned an average of $1.92 each a year earlier, Norcross Ga.-based Fleetcor noted in its earnings release.
The company’s international segment earned $41.2 million on 14.3 million transactions that generated $2.89 each, which compared with $36.6 million earned from 10.6 million transactions earning $3.45 each in last year’s third quarter, Fleetcor said.
"We are pleased to report another quarter ahead of our internal plan," Ron Clarke, FleetCor chairman, president and chief executive officer, said in the release. "We also made progress on our acquisition strategy and announced a Mexico prepaid fuel card acquisition during the third quarter. The acquisition is consistent with our strategy to build a position in ‘emerging payment markets’ and establishes a beachhead in Latin America from which we expect to expand.”
