Managing the Financial Side of Commercial Fleets

Element Touts 'Strong Financial Position' in Earnings Report

April 02, 2018, by Paul Clinton

Element Fleet Management Corp. reiterated its "strong financial position" including $4.7 billion of liquidity to finance future business in its most recent earnings report released in March.

Element's adjusted basic EPS was in-line with expectations, and the company reported guidance of an adjusted operating income for 2018 to be "within 3% to 5% of 2017 results on a currency adjusted basis."

Element Fleet Management logo
Element Fleet Management logo

Net revenue came in at $876.83 million in its 2017 discal year versus $873.66 million for the 2016 fiscal year, which equates to about 0.36% in top-line growth. During the same period, adjusted operating expenses rose 3.31%.

Element increased revenue from fleet services by 5% to $141 million in the fourth quarter of 2017 from the third quarter and 15% compared to the year-ago quarter. The company released the earnings report on March 15.

In November, General Motors chose the fleet management company to provide maintenance and accident services for its Maven ride-sharing fleet.

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