NORCROSS, Ga.--(BUSINESS WIRE)--Feb. 4, 2016--
FleetCor Technologies, Inc. (NYSE:FLT), a leading global provider of
fuel cards and workforce payment products to businesses, announced today
that its board of directors has authorized the repurchase of up to $500
million of FleetCor’s common stock for an 18 month period ending August
1, 2017.
The shares may be purchased from time to time in the open market, in
privately negotiated transactions or in other manners as permitted by
federal securities laws and other legal requirements. The timing,
manner, price and amount of any repurchases will be determined by
FleetCor in its discretion and will be subject to economic and market
conditions, stock price, applicable legal requirements and other
factors. There is no guarantee as to the number of shares that will be
repurchased, and the stock repurchase program may be extended,
suspended, or discontinued at any time without notice at FleetCor’s
discretion.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Statements that are not
historical facts, including statements about FleetCor's beliefs,
expectations and future performance, are forward-looking statements.
Forward-looking statements can be identified by the use of words such as
"anticipate," "intend," "believe," "estimate," "plan," "seek,"
"project," "expect," "may," "will," "would," "could" or "should," the
negative of these terms or other comparable terminology. Examples of
forward-looking statements in this press release include statements
relating to the expected size and timeframe of our stock repurchase
program.. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those contained in any forward-looking statement, such
as delays or failures associated with implementation; fuel price and
spread volatility; changes in credit risk of customers and associated
losses; the actions of regulators relating to payment cards or resulting
from investigations; failure to maintain or renew key business
relationships; failure to maintain competitive offerings; failure to
maintain or renew sources of financing; failure to complete, or delays
in completing, anticipated new partnership arrangements or acquisitions
and the failure to successfully integrate or otherwise achieve
anticipated benefits from such partnerships or acquired businesses;
failure to successfully expand business internationally; the impact of
foreign exchange rates on operations, revenue and income; the effects of
general economic conditions on fueling patterns and the commercial
activity of fleets, as well as the other risks and uncertainties
identified under the caption "Risk Factors" in FleetCor's Annual Report
on Form 10-K for the year ended December 31, 2014, filed with the
Securities and Exchange Commission on March 2, 2015. FleetCor believes
these forward-looking statements are reasonable; however,
forward-looking statements are not a guarantee of performance, and undue
reliance should not be placed on such statements. The forward-looking
statements included in this press release are made only as of the date
hereof, and FleetCor does not undertake, and specifically disclaims, any
obligation to update any such statements or to publicly announce the
results of any revisions to any of such statements to reflect future
events or developments.
About FleetCor
FleetCor is a leading global provider of fuel cards and workforce
payment products to businesses. FleetCor's payment programs enable
businesses to better control employee spending and provide
card-accepting merchants with a high volume customer base that can
increase their sales and customer loyalty. FleetCor serves commercial
accounts in North America, Latin America, Europe, and Australia/New
Zealand. For more information, please visit www.FLEETCOR.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204006286/en/
Source: FleetCor Technologies, Inc.
FleetCor Technologies, Inc.
Investor Relations, 770-729-2017
investor@fleetcor.com
