Fleetcor Technologies, Inc. (FLT) Q1 2023 Earnings Call Transcript

Fleetcor Technologies, Inc. (NYSE:FLT) Q1 2023 Earnings Conference Call May 3, 2023 5:30 PM ET

Company Participants

James Eglseder - Head, IR

Ronald Clarke - Chairman, President & CEO

Tom Panther - CFO

Conference Call Participants

Peter Christiansen - Citigroup

Andrew Jeffrey - Truist Securities

Sheriq Sumar - Evercore ISI

Kenneth Suchoski - Autonomous Research

Sanjay Sakhrani - KBW

Mihir Bhatia - Bank of America Merrill Lynch

James Faucette - Morgan Stanley

Jeffrey Cantwell - Wells Fargo Securities

Trevor Williams - Jefferies

Spencer James - William Blair & Company

Operator

Good day, and welcome to the FLEETCOR Technologies First Quarter 2023 Earnings Conference Call. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Jim Eglseder, Head of Investor Relations. Please go ahead.

James Eglseder

Good afternoon, everyone, and thank you for joining us today for our first quarter 2023 earnings call. With me today are Ron Clarke, our Chairman and CEO; Tom Panther, our new CFO; and Alissa Vickery, our Chief Accounting Officer. Following their prepared comments, the operator will announce the queue will open for the Q&A session. It is only then that you can get in line for questions.

Please note that our earnings release and supplement can be found under the Investor Relations section of our website at fleetcor.com. Now throughout this call, we will be covering organic growth. As a reminder, this metric neutralizes for the impact of year-over-year changes in foreign exchange rates, fuel prices and fuel spreads. It also includes pro forma results for acquisitions closed during the 2 years being compared.

We will also be covering non-GAAP financial metrics, including revenues, net income and net income per diluted share, all on an adjusted basis. These measures are not calculated in accordance with GAAP and may be calculated differently than other companies. Reconciliations of the historical non-GAAP to the most directly comparable GAAP information can be found in today's press release and on our website.

I also need to remind everyone that part of our discussion today may include forward-looking statements. These statements reflect the best information we have as of today, and all statements about our outlook, new products and expectations regarding business development and future acquisitions are based on that information. They are not guarantees of future performance, and you should not put undue reliance upon them. We undertake no obligation to update any of these statements.