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Automakers’ latest earnings show higher revenues and sales, but thinner margins due to incentive inflation, higher cost of capital, increased component costs, and EV-related investment charges. What does it mean for fleets?
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Element Fleet Management Corp. recorded a profitable first quarter, as it strengthened its balance sheet with $150 million in planned benefits from its company transformation plan that was announced in October.
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Wex Inc. reported revenue growth for the first quarter that beat projections from analysts and increased 8% to $381.9 million compared to a year earlier, the Portland, Maine-based fuel card and data provider announced.
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Verizon Connect contributed $242 million in revenue toward its parent's fourth-quarter earnings, which grew to $1.12 per share compared to 86 cents in the fourth quarter of 2017, Verizon Communications announced on Jan. 29.
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Several analysts have boosted earnings estimates for Element Fleet Management for the first quarter of 2019, following the company's Aug. 14 quarterly earnings report.
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Toronto-based Element Fleet Management increased gross revenue from its fleet business by 10.5% to $1.47 billion Canadian ($1.14 billion in U.S. dollars) in the first quarter and grew revenue 2.8% to $1.43 billion ($1.11 billion) from the fourth quarter of 2017, the fleet management company has reported.
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Element Fleet Management Corp. reiterated its "strong financial position" including $4.7 billion of liquidity to finance future business in its most recent earnings report released in March.
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LeasePlan N.V. increased revenue, net profit, and the number of vehicles it manages in 2016 with factors such as small and medium fleet leasing, retail leasing, and "low single-digit growth" with corporate clients, the company announced.
Read More →Element Fleet Management increased operating income 45% and increased service and other revenue to 55% of total revenue in 2016, due in large part to its part to its acquisition-oriented growth strategy, the company announced.
Read More →Chevin Fleet Solutions, a global provider of web-based, enterprise-level fleet and asset management software, achieved record customer and revenue growth during its 2016 financial year.
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