Element Fleet Management Corp. recorded a profitable first quarter, as it strengthened its balance sheet with $150 million in planned benefits from its company transformation plan that was announced in October.
Several analysts have boosted earnings estimates for Element Fleet Management for the first quarter of 2019, following the company's Aug. 14 quarterly earnings report.
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.
LeasePlan N.V. increased revenue, net profit, and the number of vehicles it manages in 2016 with factors such as small and medium fleet leasing, retail leasing, and "low single-digit growth" with corporate clients, the company announced.
Element Fleet Management increased operating income 45% and increased service and other revenue to 55% of total revenue in 2016, due in large part to its part to its acquisition-oriented growth strategy, the company announced.
Element Financial Corp.'s fleet management business doubled originations in the second quarter compared to the same quarter a year ago, the company has reported.
Trucking and package delivery giant FedEx Corp. on Wednesday reported a big jump in profit for its fiscal year second quarter.
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