CORPAY Stock Price, News & Analysis

Corpay (NYSE: CPAY) announced that CFO Tom Panther will depart on March 15, 2025, to join the National Christian Foundation. The company has initiated an executive search for his replacement and expects a smooth transition. Panther expressed gratitude for his time at Corpay and commitment to ensuring a successful handover. The company also confirmed that its Q4 2024 organic revenue and earnings are expected to align with previously provided guidance from November 7, 2024.

Corpay (NYSE: CPAY) has completed two significant transactions: the acquisition of GPS Capital Markets, a B2B cross-border solutions provider, and the divestiture of Comdata Merchant POS Solutions to PDI Technologies. With the recent acquisitions of GPS and Paymerang, Corpay's Corporate Payments business is expected to exceed $1.5 billion in revenue in 2025. The two Corporate Payment deals will contribute over $200 million in revenue and approximately $0.50 of Cash EPS accretion in 2025. The company will provide detailed 2025 financial guidance during its Q4 earnings release in early February.

PDI Technologies has acquired Comdata Merchant Solutions from Corpay Inc. (NYSE: CPAY), specifically acquiring their Point of Sale (POS) hardware, software, and systems for truck stops and unattended commercial fueling locations. The acquisition strengthens PDI's POS portfolio while Comdata retains its fuel card and payment acceptance business serving commercial fleets. PDI will become an approved provider of Comdata transactions across its POS solutions. The deal combines PDI's existing market-tested POS retail solution with Comdata's truck stop expertise, aiming to deliver enhanced value to customers in the convenience retail and petroleum wholesale ecosystem.

Corpay Cross-Border has extended its multi-year partnership with World Aquatics as their Official FX Payments Supplier. The agreement builds upon their collaboration since 2022, providing foreign exchange payments and currency risk management solutions to World Aquatics, the global governing body of six aquatic disciplines. The extended partnership will continue to benefit World Aquatics, event hosts, and partners with access to Corpay's innovative global payments solutions. This renewal comes at a strategic time as World Aquatics expands its international events calendar and global presence.

Corpay (NYSE: CPAY) has announced its participation in two upcoming investor conferences. Tom Panther, Chief Financial Officer, and Jim Eglseder, SVP of Global Investor Relations, will attend the KBW Fintech Conference in New York on November 13, 2024, featuring a fireside chat at 3:15 PM ET. They will also participate in the UBS Global Technology and AI Conference in Scottsdale on December 3, 2024, with a fireside chat scheduled for 12:55 PM MT. Both presentations will be accessible through Corpay's investor relations website.

Corpay (NYSE: CPAY) reported third quarter 2024 financial results, achieving over $1 billion in quarterly revenue for the first time. Revenues increased 6% to $1,029.2 million, with net income rising 2% to $276.4 million. Net income per diluted share grew 7% to $3.90. Organic revenue growth was 6%, and EBITDA increased 5% to $557.7 million. Adjusted net income rose 6% to $354.5 million, with adjusted net income per diluted share up 11% to $5.00. The company closed the Paymerang acquisition and anticipates closing the GPS Capital Markets acquisition soon. For 2024, Corpay expects total revenues between $3,980 million and $4,010 million, and adjusted net income per diluted share between $18.90 and $19.10. For Q4 2024, revenue is projected between $1,040 million and $1,070 million, with adjusted net income per diluted share between $5.25 and $5.45.

Corpay (NYSE: CPAY) has released preliminary Q3 2024 financial results, with expected revenue of $1.029 billion. The company reported stable same-store sales and segment results aligned with expectations. Expected earnings per diluted share is $3.90, with adjusted earnings per diluted share at $5.00. The company reiterates its full-year adjusted EPS guidance of $19.00 and projects low double-digit organic revenue growth for Q4, with an annualized Cash EPS exit run-rate above $21.00.

Corpay, Inc. (NYSE: CPAY), a global corporate payments company, has announced it will host a conference call to discuss its third quarter 2024 financial results on Thursday, November 7, 2024, at 5:00 pm ET. The call will be hosted by Ron Clarke (CEO), Tom Panther (CFO), and Jim Eglseder (Investor Relations).

A press release with the Q3 financial results will be issued after the market close on the same day. Investors can access the call via webcast from Corpay's investor relations website or by phone. A replay will be available until November 14, 2024.

Corpay (NYSE: CPAY) has appointed Mike Jeffrey as the new USA Chief Revenue Officer (CRO), a role designed to lead the company's newly combined U.S. sales organization. Reporting directly to the CEO, Jeffrey will be responsible for new bookings in Corpay's core U.S. market, including Fleet, Payables, and Workforce Lodging businesses. He will also direct cross-sell initiatives to capitalize on the significant white space among existing customers who already purchase products from multiple Corpay divisions.

Jeffrey, a former Paychex senior sales executive with 20 years of experience, most recently served as Vice President of HCM Solution Sales. His appointment aligns with Corpay's strategic direction of scaling existing core businesses and supports the company's long-standing track record of sales success. The new CRO role aims to create a more unified, single view of the customer across all Corpay segments.