FleetCor Technologies, Inc. (NYSE:FLT) stock rose 7.34% (As on Feb 9, 12:01:31 AM UTC-4, Source: Google Finance) after the company beaten the analysts’ estimates for the fourth quarter of FY 21. Adjusted net income increased 18% to $304.9 million in the fourth quarter of 2021, compared to $258.4 million in the fourth quarter of 2020. Overall organic revenue growth was 17% for the quarter, consistent with the third quarter and against a tougher comp. FLT had a terrific finish to the year, delivering full-year earnings of $13.21, up 19%. The Company expects to return to its normal growth cadence, with sales growth of 20%, organic growth of 9% to 11%, and adjusted EPS growth in the mid-teens.

FLT in the fourth quarter of FY 21 has reported the adjusted earnings per share of $3.72, beating the analysts’ estimates for the adjusted earnings per share of $3.60, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 30 percent to $802.3 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $766.5 million.

For the current quarter ending in April, FleetCor Technologies expects its per-share earnings to range from $3.45 to $3.55. The company expects revenue to be in the range of $740 million to $760 million for the fiscal first quarter

FleetCor Technologies expects full-year earnings to be in the range of $15 to $15.50 per share, with revenue ranging from $3.19 billion to $3.25 billion. The company expects 2022 Adjusted net income to be between $1,200 million and $1,240 million, Weighted average U.S. fuel prices equal to $3.40 per gallon, Market spreads slightly favorable to the 2021 average, Foreign exchange rates equal to the month average of January 2022 and Interest expense to be between $90 million and $100 million, with three 25bp rate increases.

On the other hand, on December 22, 2021, the Company has completed a $750 million upsizing to the Term B credit facility, at a rate of LIBOR plus 175 bps, unchanged from the rate on existing debt. The incremental debt had a minimal impact on the Company’s leverage position at year end. Additionally, given the significant share price dislocation that occurred recently, the Company repurchased approximately 2.3 million shares in the fourth quarter of 2021, and an additional 1.1 million shares in January under a pre-existing 10b5-1 plan. Further, the Board has announced an increase in the share repurchase authorization by $1 billion.