Corpay (NYSE:CPAY) Announces Earnings Results

Corpay (NYSE:CPAY) issued its earnings results on Wednesday. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.20 by $0.34, FiscalAI reports. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Corpay had a net margin of 22.72% and a return on equity of 42.18%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.70 earnings per share.

Here are the key takeaways from Corpay’s conference call:

• Corpay reported Q3 revenue of $1.38 billion, up 18%, and cash EPS of $7.54, up 32%; organic revenue grew 11% for a sixth consecutive quarter. The company raised its 2026 midpoint outlook to $5.35 billion in revenue and $28 in adjusted EPS.
• Corporate Payments accelerated to 18% organic growth, with organic spend up 24% to $95 billion; management said growth normalized to about 17% after roughly one point of one-time monetization. Vehicle Payments grew 8%, while Lodging improved to 3% but remained mixed, with its workforce business stronger than smaller niches.
• For 2027, management expects 9%–11% organic revenue growth and mid-teens-or-better Corporate Payments growth. It cited more than $500 million in 2026 Corporate Payments sales as a source of future revenue ramp and plans to deploy roughly $2 billion of free cash flow to acquisitions or buybacks.
• Management said Alpha and Avid are exceeding expectations and together are expected to contribute more than $1.40 of 2026 cash EPS accretion, versus an initial $1 target. Corpay has divested two non-core businesses for about $1.2 billion, used proceeds in part for share repurchases, and is pursuing further divestitures and Corporate Payments acquisitions.
• Corpay reported early traction with its U.K. spend-management launch, reaching more than $1 billion in annualized volume and a $15 million revenue run rate exiting Q4. Management sees potential to expand the platform into additional international markets, organically and through acquisitions.

Corpay Stock Performance

Shares of CPAY traded up $29.16 during trading hours on Thursday, hitting $447.76. The stock had a trading volume of 1,731,065 shares, compared to its average volume of 589,337. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.97 and a quick ratio of 0.97. Corpay has a 12 month low of $259.05 and a 12 month high of $479.53. The firm has a market capitalization of $29.40 billion, a PE ratio of 27.25, a PEG ratio of 1.11 and a beta of 0.94. The stock has a fifty day moving average price of $403.19 and a 200 day moving average price of $359.03.

Insider Transactions at Corpay

In other Corpay news, CEO Ronald Clarke sold 119,486 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total value of $49,276,026.40. Following the transaction, the chief executive officer directly owned 2,354,330 shares of the company’s stock, valued at approximately $970,925,692. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Stull sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total value of $1,642,640.00. Following the sale, the director owned 23,598 shares of the company’s stock, valued at approximately $9,690,754.68. This represents a 14.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 220,860 shares of company stock worth $91,395,514. 5.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on CPAY. Wall Street Zen downgraded Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Raymond James Financial restated an “outperform” rating and set a $442.00 target price on shares of Corpay in a research note on Thursday, August 6th. Morgan Stanley raised their price target on shares of Corpay from $455.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. UBS Group lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Scotiabank boosted their price objective on shares of Corpay from $536.00 to $539.00 and gave the company a “sector outperform” rating in a report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $462.85.

Key Stories Impacting Corpay

Here are the key news stories impacting Corpay this week:

• Positive Sentiment: Q3 results beat expectations: Adjusted EPS was $7.54 versus estimates of about $7.20, while revenue of $1.38 billion topped forecasts of $1.36 billion and grew 18% year over year. Corporate Payments was a key growth driver. Corpay Q3 Earnings Beat Estimates, Revenues Increase 18% Y/Y
• Positive Sentiment: Raised guidance and growth outlook: Corpay lifted its full-year 2026 revenue and earnings outlook; its revenue forecast of $5.34 billion–$5.36 billion is above the cited $5.32 billion estimate. Management also projected 9%–11% organic revenue growth in 2027 and plans to deploy about $2 billion of free cash flow. Corpay Q3 Adjusted Earnings, Revenue Increase; Fiscal 2026 Outlook Raised Corpay projects 2027 growth and free cash flow plans
• Positive Sentiment: Analysts raised price targets: Keefe, Bruyette & Woods raised its target to $525 from $470, and Scotiabank lifted its target to $539 from $536; both maintained outperform ratings. Oppenheimer also raised its target to $461 from $454 and reiterated outperform. Keefe, Bruyette & Woods price target update Scotiabank price target update
• Neutral Sentiment: Corpay completed the sale of its vehicle maintenance business. The reports provided no details on the transaction’s financial impact. Corpay completes sale of vehicle maintenance business

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.

The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

Corpay operates as part of the broader financial technology and payment processing sector.