THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
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Earnings

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 Increases Revenue in First Quarter

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.

Verizon Connect Reports Strong Q4 Growth

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.

Element's Fleet Revenue Rises From Year Ago

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.

LeasePlan Sets Strategic Direction, Reports 2016 Results

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.

Element Increased Operating Income 45% in 2016

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.