and you Good morning Melissa. thank everyone,
outstanding from you by each growth businesses. quarter posted performance positive our heard, top driven another As we've have financial of line of core
FX is beat from combination on to of outperformance steady improvement well earnings macroeconomic trend losses, fuel Our fraud positive prices revenue, a the as in and due as rates.
year pleased how extremely has with are We the started.
at revenue per was period. income $XXX.X number last a Total the quarter from for was XX% $XX.X take for a the Now share. look XX% slide let's over $X.XX first or year. our results prior period increase million, on This is X. the same diluted up net year Non-GAAP million $X.XX adjusted
high We that are are delighted end these of of report over the guidance. results both to the
increase. and XX% a by slide just the number Travel to performance X shows volume our strong of segment would Corporate Solutions I segments. organic each As also mentioned, our down out broken like point that Melissa saw revenue strong we growth has where in revenue
into are the to recognition a like of new segment slide revenue detailed get results, XX. we number take standards, review to the minute the which impact Before would on I
being there have under the no have for I which with impact now are of fees, Two, segments, in later a some marketing in historically various changes areas earnings. metrics, you been are shown These Under this as expense is service and As network the a and our netted the our quarter. the line. as new two historically call. will expense in calculation fee will expenses in highlight One, margin now which our of we rebates shown to impact revenue. sales starting we are netted to an revenue paid reclassifying being some revenue partners, were which reminder rules,
segment revenue, me basis segment is and revenue points to prior causes points the interchange on you which net The X revenue Moving which points, approximately fuel XX%, which $XXX.X million revenue up Fleet year. is basis of slide and to increase to results, It the QX XX. was compared increase direct Solutions The to offset achieved XX% to year. XXX by let recognition higher finance decline. for in to due an interchange last prices, X net up basis quarter XX% were of X this fee respectively. rate is from processing rate changes, Payment
Additionally, this in versus was a QX in our across average We positive segment. $X.XX number $X.XX fuel see domestic price trends XXXX. of
First, continued we to which solid transaction rates see growth larger is organic in impressive. segment, our
North happy Breaking in Second, European And report by and XX%, we our marginally Fleet were of led continue positive. are maintain Fleet XX% same-store segment, strong by Over-the-Road down in sales the XX%, by double-digit we revenue our to increases rates. portfolios. in increases low we attrition that experienced each American This a third, was to business. Fleet the
$X are the spread approximately when of guidance impacts compared prices. in Europe. a additional over and due in to net to we segment Finally, higher million million year revenue fuel $X last had numbers of Both
impacted by X revenue just and includes volume Solutions in our volume, for we primarily due excellent because revenue line points This this purchase AOC. number The benefit to the points, revenue The mentioned. the expected I for million, XX% than a more up America Turning reached growth recognition basis segment from the $X.X to expectations. revenue was acquisitions, mix the changes was rates. to slide which customers our net our year. segment AOC from XX% organic XX last million, equates the revenue quarter North interchange exchange in strong XX, approximately was QX stemming are we basis basis from recognition return increase for $XX.X increased for growth changes. was to in and historically in Travel some all volume, which and acquisition which $X.X was points momentum includes on volume with of segment quarter to the rate and geographies growth. Total quarter Corporate from of This X.X excludes in Total billion. seeing
Health to Health Benefit XX, for Employee quarter was was for increased on and with X%. in XX%, which the the slide expectations. Moving business U.S. Solutions, Revenue growth revenue in line
entered the growth enrollment since you number To the season, more we strong. XX% have good than and of remains a Following more segment, was accounts SaaS XX% give we sales some color, pipeline annually. up in seen QX this
We the the place are fundamentals over growth long-term. a that in continue high-teens to believe for trajectory
XX presentation number that out new section our Let in on expense statements. me slide we the income a have operating point of
which designed more provide our and to We to visibility our have presentation, functional group. is to better peer moved is comparable
walk Let me key you through some updates.
the acquisition million the Service result in of AOC bringing the company a total as service primarily items on basis to Breaking from were certain expense last were was cost $X.X $XXX.X million reclassification in of network of operating compared For due expenses prior quarter, technology GAAP million. a and down up the functions the changes. category, in-house. line recognition down primarily $XXX.X quarter, as cost Total this revenue QX fees million, due to to million increased year, in $XX.X $XXX.X fees of the processing year. part
am Turning pleased report I news. to to credit of losses, another consecutive quarter positive
During loss of and XX.X volume, loss million quarter, points guidance. segment, the was to spend is our low credit we our basis a $XX the consolidated have historically with levels. basis Fleet returned In line which first in totaled on credit
basis fraud-related represented quarter, X.X losses the points. For
to decline, put place. fraud have confident we the that to very are are thanks in continuing We losses controls
than is which Excluding the fraud, same year. last period to basis better Fleet significantly credit X.X losses declined points,
XXXX, on is up Finally, million and compared quarter. $X.X This with to was line prices. our in interest higher our million expectations rates operating due fuel interest expense $X.X to the was in
operating levels increased recall, U.S. As fuel as you debt well. in the with prices, higher
to to together, a steps at the continue taken from and reduce balance are delivering increase last sheet to compared services while and, the X.X% time, GAAP the products in expand all our these able deposits to also XX.X%, our have same basis at on new gross to We margin year-end. a were down representing Pulling year. and size of bank We business our invest the market. business margins was
last the was quarter, year. were recorded depreciation Our sales mentioned revenue from guidance up million million line. due of is marketing to expenses which SG&A, increase expense $XX.X $XXX.X amortization and changes under the recognition in the the is compared earlier Most and the which to
acquisition Additionally, IT the and a our line increases for compensation, G&A charge insourcing debt stock AOC repricing, expense functions. to related includes
taxes, quarter last basis, QX quarter Moving the ANI tax last basis, following to a XX% to XXXX. this tax year. XX.X% to first GAAP the of an year's on the was slide rate On and quarter number Act, first for Tax rate XX.X% XX for XX.X% talk for effective the compared year for about was the
cash reduction on now cash, was Looking in the was XX, balances our line last cash we at and million revolving to in the At a down the quarter-end, to levels. $X.X the end million notes. $XXX number of slide with our deposit to compared as balance balance bank quarter year. we had sheet on ended of from at $XXX The reduce used of mainly loans which total (XX:XX) term billion credit, position
approximately agreement, stands levels, XXXX. XX as times year-end a XXXX, company ratio, spread the defined $X in X.X re-pricing In our our Term basis credit leverage at for will completed January ago. loan, we this year points. in X.X the million the reducing times, save another debt B on another Based down from approximately Our
mitigated saw significant large these of value We now hedges The combination our we a stands $XX.X interest hedges unrealized locking spreads portion gains placed in interest rates. fixed also million. on debt. our rates market to on at reducing rising exposure has of the The and of rate
execution. coupled to guidance fuel revenue we us and loss This, fraud from off high adjusted lower first tailwinds, price confidence our in into to positive and credit continue through our better of and quarter with degree guidance. income driving gives from acceleration raising performance looking anticipate scale business, on Moving forward Coming margin and XX. XXXX, solid on a net very slide
to to $X.XXX to $XXX basis, expect revenue EPS be range million expect we of year, in billion ANI million. $X.XX be of income On of in full to an the $X.XXX the and we diluted net the in range For $XXX to share. $X.XX the per billion adjusted range
net report per quarter, we $XXX in diluted For the adjusted be expect share. of revenue million $XX and to the $XXX $X.XX range income second adjusted to On an net income of range to in expect $XX million basis, we $X.XX EPS the between million to million. and
assumptions you Domestic Let Exchange per of guidance. year. assume (XX:XX) on $X.XX me we from the our the basis assumption credit end the for the is full year. through to and the The for fuel our points price prices, gallon guidance. for prior April. second the to walk our which is and the leveraged quarter U.S. $X.XX gallon futures the as This fraud, are per basis NYMEX rates based full in for XX X week. from Fleet this XX XX to reduction includes between We related and a points X points loss will for of be basis quarter XX based
million for we the net finally, there outstanding. assuming and XX% rate XX% be approximately And expected adjusted XX.X year. tax full to income between are is shares are Our
open the call for line we Before will the to Steve. over turn questions, I
