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FLEETCORⓇ FLEETCOR Reports Third Quarter 2021 Financial Results November 3 , 2021 ATLANTA -- ( BUSINESS WIRE ) -- Nov . 3 , 2021-- FLEETCOR Technologies , Inc. ( NYSE : FLT ) , a leading global business payments company , today reported financial results for its third quarter of 2021 . " Our third quarter profits ( adjusted EPS ) and revenue were records for the company , growing 25 % and 29 % respectively , " said Ron Clarke , chairman and chief executive officer , FLEETCOR Technologies , Inc. " Overall organic revenue growth was 17 % , and inside of that , our corporate payments business grew 22 % . We are increasing the mid - point of our full - year guidance to $ 13.05 , and are enthused about the setup into 2022 with our sales momentum , expected deal synergies and an improved macro environment . " Financial Results for Third Quarter of 2021 : GAAP Results • Total revenues increased 29 % to $ 755.5 million in the third quarter of 2021 , compared to $ 585.3 million in the third quarter of 2020 . • Net income increased 24 % to $ 234.0 million in the third quarter of 2021 , compared to $ 188.8 million in the third quarter of 2020 . • Net income per diluted share increased 28 % to $ 2.80 in the third quarter of 2021 , compared to $ 2.19 per diluted share in the third quarter of 2020 . Non - GAAP Results ¹ Adjusted net income¹ increased 22 % to $ 294.4 million in the third quarter of 2021 , compared to $ 241.9 million in the third quarter of 2020 . • Adjusted net income per diluted share¹ increased 25 % to $ 3.52 in the third quarter of 2021 , compared to $ 2.80 per diluted share in the third quarter of 2020 . " Our third quarter results were again excellent , and beat the expectations we provided in August for both revenue and adjusted earnings per share , " said Charles Freund , chief financial officer , FLEETCOR Technologies , Inc. " Our expense management discipline , strong credit performance and effective capital allocation all contributed to the bottom line beat . " Fiscal - Year 2021 Outlook : 1 " Our guidance increase reflects our third quarter results and the benefit from the ALE acquisition completed on September 1 , 2021. With three quarters of strong results behind us , we currently expect fourth quarter revenue and adjusted EPS to grow both sequentially and year - over - year , which will contribute to full year growth rates of 17 % and 18 % at the mid - point , respectively , " concluded Freund . For fiscal year 2021 , FLEETCOR Technologies , Inc. updated financial guidance¹ is as follows : • Total revenues between $ 2,785 million and $ 2,805 million ; • GAAP net income between $ 837 million and $ 847 million ; • GAAP net income per diluted share between $ 9.90 and $ 10.00 ; ● Adjusted net income between $ 1,100 million and $ 1,110 million ; • and Adjusted net income per diluted share between $ 13.00 and $ 13.10 . FLEETCOR's guidance assumptions for the fourth quarter of 2021 are as follows : • Weighted average U.S. fuel prices equal to $ 3.27 per gallon ; • Market spreads slightly unfavorable to the 2020 average ; and ● Foreign exchange rates equal to the seven - day average as of October 17 , 2021 . FLEETCOR's guidance assumptions for the full year are as follows : • Interest expense between $ 120 million and $ 125 million ; ● Approximately 85 million fully diluted shares outstanding ; • A tax rate of 22.5 % to 23.5 % ; and • No impact related to acquisitions not already closed . Reconciliations of GAAP results to non - GAAP results are provided in Exhibit 1 attached . Additional supplemental data is provided in Exhibits 2-3 and