Corpay Inc

CPAY

Equity

ISIN US2199481068 / Valor 133858012

New York Stock Exchange, Inc (2024-12-24)

USD 346.25+0.93%

Corpay Inc
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About company

Corpay Inc. provides comprehensive payment solutions and expense management services for businesses.

Summarized from source with an LLMView SourceSector: Finance

Revenue Milestone

In the third quarter of 2024, Corpay Inc. achieved a significant milestone by surpassing $1 billion in quarterly revenue for the first time. This achievement was driven by an 18% organic growth in Corporate Payments, reflecting strong business fundamentals, improved same-store sales, and retention.

Income Growth

Corpay Inc. reported a 2% increase in net income for the third quarter of 2024, reaching $276.4 million compared to $271.5 million in the same quarter of 2023. The net income per diluted share also rose by 7% to $3.90, up from $3.64 in the previous year.

EBITDA and Adjusted Income

The company's EBITDA for the third quarter of 2024 increased by 5% to $557.7 million, compared to $528.9 million in the third quarter of 2023. Adjusted net income attributable to Corpay Inc. rose by 6% to $354.5 million, with adjusted net income per diluted share increasing by 11% to $5.00.

Updated Financial Outlook

Corpay Inc. has updated its financial guidance for the full year 2024, projecting total revenues between $3,980 million and $4,010 million. The company expects net income per diluted share to range between $14.82 and $15.02, with adjusted net income per diluted share between $18.90 and $19.10.

Strategic Acquisitions

During the third quarter of 2024, Corpay Inc. completed the acquisition of Paymerang and is on track to close the GPS Capital Markets acquisition. These strategic moves are expected to contribute to revenue growth acceleration and synergy realization in the fourth quarter.

Summarized from source with an LLMView Source

Key figures

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Performance

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25.3%5Y

Volatility