Element Reports Strong First Quarter Results, Raises 2022 Revenue, Earnings, Cash Flow Guidance
TORONTO, May 09, 2022 (GLOBE NEWSWIRE) -- Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), the largest pure-play automotive fleet manager in the world, today announced strong financial and operating results for the three months ended March 31, 2022, and management raised full-year 2022 results guidance.
- Recognizing that Net Financing and Syndication revenues would be deferred because of OEM production delays, we shifted additional focus to Services revenue growth throughout 2021.
- Element's $132 million this quarter is the most services revenue generated in the last 13 quarters.
- Having led the organization through Transformation and its subsequent pivot to growth, I truly believe we have something quite special in Element.
- A conference call to discuss these results will be held on Tuesday, May 10, 2022 at 8:00 a.m. Eastern Time.