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FLEETCORⓇ FLEETCOR Reports Second Quarter 2021 Financial Results August 4 , 2021 Board increased share repurchase authorization by $ 1 billion ATLANTA -- ( BUSINESS WIRE ) -- Aug . 4 , 2021-- FLEETCOR Technologies , Inc. ( NYSE : FLT ) , a leading global business payments company , today reported financial results for its second quarter of 2021 . " Our second quarter profits ( adjusted EPS ) climbed 38 % , and we posted record retention and record sales levels , " said Ron Clarke , chairman and chief executive officer , FLEETCOR Technologies , Inc. " Our outlook is improving , and we now expect the second half of the year results to once again reach new all - time highs in revenues and profits . " Financial Results for Second Quarter of 2021 : GAAP Results • Total revenues increased 27 % to $ 667.4 million in the second quarter of 2021 , compared to $ 525.1 million in the second quarter of 2020 . • Net income increased 24 % to $ 196.2 million in the second quarter of 2021 , compared to $ 158.5 million in the second quarter of 2020 . • Net income per diluted share increased 26 % to $ 2.30 in the second quarter of 2021 , compared to $ 1.83 per diluted share in the second quarter of 2020 . Non - GAAP Results 1 • Adjusted net income¹ increased 36 % to $ 268.4 million in the second quarter of 2021 , compared to $ 197.4 million in the second quarter of 2020 . • Adjusted net income per diluted share¹ increased 38 % to $ 3.15 in the second quarter of 2021 , compared to $ 2.28 per diluted share in the second quarter of 2020 . " Our second quarter results were excellent , with organic growth improving across the board , which was bolstered by the macroeconomic environment of higher fuel prices and favorable foreign exchange rates , " said Charles Freund , chief financial officer , FLEETCOR Technologies , Inc. " We've continued to manage expenses in line with revenues , and are experiencing strong credit performance . Our active share repurchase program was increased by $ 1 billion by the Board on July 27 , 2021 , and we now have $ 1.6 billion of repurchase capacity . " Fiscal - Year 2021 Outlook : " We are raising our full year revenues and our adjusted net income per diluted share guidance to $ 2,765 million and $ 12.90 at the mid - point respectively , to reflect our second quarter results , the benefit from the AFEX transaction , and the improved macro outlook . We currently expect continued recovery of volumes from COVID levels for the remainder of the year and the benefit of the acceleration of new sales to continue to drive momentum in the second half of 2021 , " concluded Freund . For fiscal year 2021 , FLEETCOR Technologies , Inc. updated financial guidance¹ is as follows : • Total revenues between $ 2,740 million and $ 2,790 million ; • GAAP net income between $ 835 million and $ 865 million ; • GAAP net income per diluted share between $ 9.80 and $ 10.00 ; Adjusted net income between $ 1,085 million and $ 1,115 million ; and • Adjusted net income per diluted share between $ 12.80 and $ 13.00 . FLEETCOR's guidance assumptions for 2021 are as follows : For the balance of the year : • Weighted U.S. fuel prices equal to $ 3.07 per gallon ; • Market spreads slightly unfavorable to the 2020 average ; and • Foreign exchange rates equal to the seven - day average as of July 11 , 2021 . For the full year : • Interest expense between $ 120 million and $ 125 million ; • Between 85 million and 86 million fully diluted shares outstanding ;