Corpay Stock Earnings Reports

Corpay reported a strong Q3 2025: revenue and cash EPS each grew 14% year-over-year, with organic revenue up 11%. The two largest segments — Vehicle Payments (10% organic growth) and Corporate Payments (17% organic growth) — drove most of the performance (these two represent ~80% of revenue). Management raised Q4 guidance (midpoint Q4 revenue $1.235B; cash EPS $5.90) and lifted full-year 2025 guidance (midpoint revenue $4.515B; adjusted EPS $21.24). Recent M&A activity closed Alpha (Oct 31) and the Avid investment (Oct 15); combined Alpha + Avid are expected to contribute at least $0.75 of EPS accretion in 2026. Corporate Payments is a strategic priority (management expects ~ $2B in revenue next year and aims to scale it significantly), and Corpay is pursuing strategic partnerships (Mastercard investment into cross-border) and product moves (multicurrency/global bank accounts). Corpay is also progressing a stablecoin/wallet initiative with partners (including Circle) to enable 24/7 payouts and new rails for clients. Balance sheet and capital allocation: liquidity ~$3.5B, leverage ~2.4x, recent upsized credit facilities, share buybacks (~600k shares for $192M this quarter) and potential divestitures (process underway for international vehicle assets, target proceeds up to $1.5B). Near-term headwinds/risks: lodging remains weak (stabilizing but still a wildcard), float-related revenue compression from lower interest rates, and execution risk on M&A synergies and monetization of new initiatives (stablecoin, Mastercard channel). Management expects 2026 organic revenue growth of roughly 9–11% with incremental margin upside from AI and vendor rationalization.