Slide 1: 2Q2020 Earnings Release Supplement
2Q2020 Earnings Release Supplement Refer to earnings release dated August 6, 2020 for further information
Slide 2: Safe Harbor Provision
Safe Harbor Provision This presentation 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, assumptions and future performance, are forward-looking statements. Fo
Slide 3: COVID-19 Update
COVID-19 Update ◦ Health and safety of our employees and communities is our priority Safety ◦ Balancing plans for return to the workplace safely with work from home alternatives Business ◦ Effectively delivering services from remote environments Continuity ◦ Maintaining system performance and client
Slide 4: 2Q20 Key Numbers
2Q20 Key Numbers Total Revenue (19)% Revenue contraction ($ in millions) $647 (17)% Organic revenue contraction 1 $525 (20)% Adjusted net income per diluted share1 91.0% Revenue weighted volume retention2 2Q19 2Q20 $1.9 billion Available liquidity Adjusted Net Income Per Share1 $2.85 7bps Credit los
Slide 5: 2Q20 Bridge vs Prior Year
2Q20 Bridge vs Prior Year Revenue (in millions) $647 $19 $525 $(119) $(22) 1 2Q19 Core Change Macro Acquisitions 2Q20 Adjusted Net Income Per Share $2.85 $0.10 $2.28 $0.12 $0.07 $(0.77) $(0.01) $(0.08) 1 2Q19 Core Change Macro Acquisitions Lower Lower Share Tax Rate 2Q20 Interest Count Rates 1. Macr
Slide 6: 2Q20 Results at a Glance
2Q20 Results at a Glance ($ in millions, except for per share data) 2Q19 2Q20 Y/Y Total Revenue $647 $525 (19)% GAAP Net Income $262 $158 (39)% GAAP Net Income per Diluted Share $2.90 $1.83 (37)% Adjusted Net Income1 $257 $197 (23)% Adjusted Net Income per Diluted Share1 $2.85 $2.28 (20)% 1. Non-GAA
Slide 7: 2Q20 Organic Revenue Performance
2Q20 Organic Revenue Performance1 ($ in millions) FUEL2 CORPORATE PAYMENTS2,3 $291 $244 $112 $94 (16)% (17)% 2Q19 2Q20 2Q19 2Q20 TOLLS2 LODGING2,4 $86 $89 $65 Airline $41 Airline Workforce Workforce +3% (37)% 2Q19 2Q20 2Q19 2Q20 1. Non-GAAP financial measures; See appendix for reconciliation of non-
Slide 8: 2Q20 Revenue Retention and Organic Revenue Trends
2Q20 Revenue Retention and Organic Revenue Trends Revenue Weighted Volume Retention1 Organic Revenue Growth by Product2 92.4% 92.3% 91.8% 91.2% 90.7% 91.0% 1Q19 2Q19 3Q19 4Q19 1Q2020192Q20 10%3 9%3 10%3 9%3 2% (16)% Fuel Corporate 20% 29% 30% 18% 20% (17)% Payments4 15% 17% 17% 17% 10% 3% Tolls 6% 1
Slide 9: Volume trends by Month versus Prior Year
Volume trends by Month versus Prior Year* • All businesses appear to have bottomed and are beginning to recover 2019 And fortunately, 3 of our "slowest recovery" businesses- T&E card, Brazil benefits, and Airline Lodging represent less than 5% of our overall July revenue * Year over year growth adju
Slide 10: Balance Sheet Structured for Flexibility and Capacity
Balance Sheet Structured for Flexibility and Capacity Leverage Ratio • Total available liquidity at June 30 is ~$1.9 billion (X) • ~$1.1 billion of total borrowing capacity available 2.62 under current credit agreements as of June 30, 2.43 2020 • Closed on an additional $250 million revolving bridge
Slide 11: 2020 Guidance Suspended
2020 Guidance Suspended • As a result of the unprecedented conditions across all of our markets, we have suspended our full-year 2020 guidance. We have updated the assumptions we are using as the basis for our planning. ASSUMPTIONS • Interest expense of $135 million; • Approximately 87.5 million sha
Slide 12: Appendix Non-GAAP to GAAP Reconciliations
Appendix Non-GAAP to GAAP Reconciliations About Non-GAAP Financial Measures This presentation includes certain measures described below that are non-GAAP financial measures. Adjusted net income is calculated as net income, adjusted to eliminate (a) non-cash stock based compensation expense related t
Slide 13: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income* ($ in millions, except per share amounts ) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net income $158 $262 $306 $434 Stock based compensation 9 18 23 31 Amortization of intangible assets, premium on receivables, defe
Slide 14: Calculation of Organic Growth
Calculation of Organic Growth* ($ in millions) 1Q20 ORGANIC GROWTH 2Q20 ORGANIC GROWTH 2Q20 ORGANIC 2020 2020 GROWTH Macro 2019 Pro Macro 2019 Pro Adj3 forma2 % Adj3 forma2 % 2020 Macro 2019 Pro Fuel Cards $281 $275 2% $244 $291 (16)% Adj3 forma2 % Corporate Payments 121 101 20% 94 112 (17)% Workfor
Slide 15: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020 (in millions) Macro Pro 2020 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 2020 Organic Revenue Growth* Adjusted1 Forma2 2Q20 1Q20 2Q19 1Q19 2Q20 2Q19 FUEL Workforce Lodging Pro forma and macro adjusted $ 244 $ 281 $ 291 $ 275 Pro for
Slide 16: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020 (continued)
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2020 (continued, in millions) 2020 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 2Q20 1Q20 2Q19 1Q19 GIFT Pro forma and macro adjusted $ 27 $ 42 $ 36 $ 48 Impact of acquisitions/dispositions — — — — Impact of fuel prices/spread — — — — Imp
Slide 17: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2019
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2019 (in millions) 2019 Organic Revenue Growth* Macro Adjusted1 Pro Forma2,3 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 FUEL Pro forma and macro adjusted $ 310 $ 300 $ 291 $ 279 $ 285 $ 272 $ 268 $ 255 Impact of acquisitions/dispositions — — 4 8 1
Slide 18: Reconciliation of Non-GAAP to GAAP Revenue by Product - 2019 (continued)
Reconciliation of Non-GAAP to GAAP Revenue by Product - 2019 (continued, $ in millions) 2019 Organic Revenue Growth* Macro Adjusted1 Pro Forma2 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 GIFT Pro forma and macro adjusted $ 48 $ 48 $ 36 $ 48 $ 51 $ 58 $ 35 $ 50 Impact of acquisitions/dispositions — — —