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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Element Fleet Management Corp. (EFN)

Q: Comments please on EFN's latest quarterly results. I have a half position. Do you think that this is a hold or buy more.

Thanks, Tim.

Asked by tim on May 21, 2024

5i Research Answer:

EPS of 26c beat estimates of 24c; revenue of $262.4M beat estimates of $243.7M. Revenue rose 17%. The upper end of prior guidance was affirmed. Operating margin rose 1.5 points. EPS rose 16%. Free cash flow per share rose 27%. Originations rose nearly 10%. The results have allowed EFN to 'accelerate some investments in our businesses'. Results/outlook were solid and the stock hit an all-time high. At 17X earnings we would be comfortable buying some.

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