Seeking Alpha

FleetCor signs Canadian fuel card outsourcing deal, shares +8%

  • FleetCor Technologies (FLT +8%) surges after late Wednesday's news that it signed a fuel card outsourcing agreement with CST Brands in Canada.
  • CST operates 850-plus retail fuel sites in eastern Canada and is one of the area's largest retail distributors of home heating oil.
  • In its Q4 earnings report yesterday, FLT beat estimates and issued in-line guidance for 2014, seeing EPS of $4.90-$5.00 vs. $4.91 analyst consensus and revenue of $1.07B-$1.09B vs. $1.10B consensus.
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