Element Fleet Management Corp T.EFN

Alternate Symbol(s): ELEEF

Industrials

Element Fleet Management Corp. is a Canada-based fleet solutions providers. It operates as a pure-play automotive fleet manager. The Company offers a full range of fleet services and solutions to corporations, governments and not for profits across North America, Australia, and New Zealand. Its services address every aspect of clients' fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing, to integrating electric vehicles' (EV) and managing the complexity of gradual fleet electrification. It offers a range of fleet solutions consisting of cost management; driver productivity and vehicle uptime; fleet electrification, lease vs ownership, sale leaseback, and others. Its fleet types include global; government and public sector; material handling equipment; sales, and heavy trucks. It offers fleet solutions to various industries, such as construction; energy, oil and gas; food and beverage; healthcare; services; transportation, and utilities.

TSX:EFN - Post by User

Element Fleet Management Corp

<< Previous

Bullboard Posts

Next >>

Post by retiredcfon Nov 21, 2024 8:12am

51 Views

Post# 36323338

Ink Research

Morning Report: Insiders ride the Element Fleet rally

November 21, 2024

Element Fleet Management (EFN) shares have been in gear, up 38.7% over the past 12 months and up 43.0% since we last featured it here on May 15, 2023. Element describes itself as the largest publicly traded, pure-play automotive fleet manager in the world. It addresses every aspect of fleet requirements including vehicle acquisition, maintenance, accidents, and managing EV integration. To that last point, in April it announced a collaboration agreement with BYD, China's largest new energy vehicle manufacturer. In the same announcement, it said it was starting operations in Singapore. Element also operates in North America, Australia, and New Zealand. On October 1st, it completed the acquisition of fleet and mobility solutions provider Autofleet Solutions for US$110 million plus standard adjustments. 25% of the total consideration came from issuing 1.3 million common shares from its treasury.

When Element Fleet announced Q3 results on November 13th, it reported record quarterly net revenue of US$280 million, up 12% year-over-year. Adjusted operating margin rose to 57.7% from 56.5% in Q3 2023. Basic earnings per share (EPS) were $0.33 versus $0.32 in the comparable period. As of September 30th, Element reported having 1.5 million vehicles under management. Since the news, insiders have been net buyers. For 2025, Element expects net revenue growth at midpoint of 7.5% and adjusted basic EPS growth from high-single to low-double digits. Adjusted basic EPS (a non-GAAP measure) for 2024 is expected to come in at a midpoint of US$1.09.