分组1 - Corpay reported quarterly earnings of $6.04 per share, exceeding the Zacks Consensus Estimate of $5.95 per share, and up from $5.36 per share a year ago, representing an earnings surprise of +1.47% [1] - The company posted revenues of $1.25 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.63%, and an increase from $1.03 billion year-over-year [2] - Corpay has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] 分组2 - The stock has underperformed the market, losing about 2.9% since the beginning of the year compared to the S&P 500's gain of 1.1% [3] - The current consensus EPS estimate for the upcoming quarter is $5.49 on revenues of $1.22 billion, and for the current fiscal year, it is $24.74 on revenues of $5.22 billion [7] - The Financial Transaction Services industry, to which Corpay belongs, is currently ranked in the bottom 36% of Zacks industries, suggesting potential challenges ahead [8]

Q4 2025 Earnings Release Supplement Refer to earnings release dated February 4, 2026 for further information ^ - dark blue-teal #00B5E2 ^ - light raspberry #981239 ^ - dark raspberry #981239 ^ - light blue-teal #59CBE8 ^ - cool gray 1 #E6E8E7 ^ Q4 2025 Results Safe Harbor Provision 2025 ^ This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about Corpay's beliefs, assumptions, expectations and ...

Business payments firm Corpay reported a rise in fourth-quarter profit on Wednesday, as resilient business spending boosted its corporate payments segment. ...

Revenue Growth - Fourth quarter revenue increased by 21% to $1,248.2 million compared to $1,034.4 million in the fourth quarter of 2024[5] - Organic revenue growth was 11% for the fourth consecutive quarter, driven by double-digit growth in the two largest segments[3] - Full year 2025 revenue increased by 14% to $4.5 billion, up from $4.0 billion in 2024[6] - Total revenues for Q4 2025 were $1.25 billion, a 21% increase from $1.03 billion in Q4 2024[32] - Vehicle Payments segment revenues for Q4 2025 were $572.8 million, up 15% from $497.7 million in Q4 2024[32] - Corporate Payments segment revenues increased by 39% to $480.8 million in Q4 2025, compared to $346.2 million in Q4 2024[32] - Revenues from the US market for Q4 2025 were $581 million, a 6.2% increase from $547 million in Q4 2024[34] Profitability - Adjusted net income for the fourth quarter rose by 11% to $423.6 million, compared to $383.2 million in the fourth quarter of 2024[5] - Adjusted EBITDA for the fourth quarter increased by 18% to $712.4 million compared to $605.3 million in the fourth quarter of 2024[5] - Operating income for Q4 2025 was $564,474, a 16% increase compared to $488,348 in Q4 2024; annual operating income rose 12% to $1,994,108 from $1,787,157[23] - Net income for Q4 2025 was $265,616, an 8% increase from $246,004 in Q4 2024; total net income for the year was $1,071,948, up 7% from $1,003,732[23] - Basic earnings per share for Q4 2025 were $3.79, an 8% increase from $3.52 in Q4 2024; diluted earnings per share rose 9% to $3.75 from $3.44[23] - Adjusted net income per diluted share increased by 13% to $6.04 in the fourth quarter of 2025, compared to $5.36 in the fourth quarter of 2024[5] - Adjusted net income attributable to Corpay for the year 2025 reached $1.52 billion, compared to $1.36 billion in 2024, reflecting an increase of 11.3%[29] Future Projections - For fiscal year 2026, the company expects revenue growth of 16% and adjusted earnings per share growth of 22% at the midpoint[7] - First quarter 2026 organic revenue growth is projected to be 9% at the midpoint, with adjusted EPS expected to grow over 20%[8] - Full year 2026 net income guidance is projected between $1,344 million and $1,438 million[43] - Adjusted net income for full year 2026 is expected to be between $1,762 million and $1,856 million[43] - The company anticipates Q1 2026 net income guidance between $263 million and $277 million[43] Shareholder Returns - The company repurchased 1.7 million shares for $500 million in the fourth quarter[3] Assets and Cash Flow - Total current assets increased to $13,974,114 in 2025 from $8,675,869 in 2024, driven by a rise in cash and cash equivalents to $2,496,920 from $1,553,642[25] - Total assets grew to $26,419,009 in 2025, up from $17,957,031 in 2024, reflecting significant growth in goodwill and other intangibles[25] - Customer deposits surged to $8,125,075 in 2025 from $3,266,126 in 2024, indicating increased customer engagement and trust[25] - Net cash provided by operating activities for 2025 was $1,499,901, down from $1,940,565 in 2024, primarily due to changes in operating assets and liabilities[27] - Cash and cash equivalents and restricted cash at the end of the period totaled $8,991,940, up from $4,456,345 at the beginning of the period, reflecting strong liquidity[27] Strategic Investments - The company deployed over $4.3 billion in capital in 2025, including its largest cross-border acquisition to date[4] - The company made acquisitions totaling $1,933,783 in 2025, significantly impacting cash flows and strategic positioning[27] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[29] Market Performance - The average monthly tag subscriptions for Q4 2025 reached 7.8 million, indicating strong user growth[32] - The company reported a 67% increase in spend volume for Corporate Payments, reaching $81.4 billion in Q4 2025[32] - Adjusted EBITDA margin for Q4 2025 was 57.1%, slightly down from 58.5% in Q4 2024[40]

Core Insights - Lightyear Capital, a private equity firm with over US$7 billion in assets under management, has signed an agreement to acquire PayByPhone, a leader in mobile parking payments, from Corpay [1][3] - PayByPhone serves more than 1,300 clients globally and is recognized for its digital parking payments and parking management software [3][5] - The acquisition aims to drive product innovation and enhance PayByPhone's growth, with plans for it to operate as an independent business under Lightyear's ownership [3] Company Overview - Lightyear Capital has over 25 years of experience partnering with companies in financial services, technology, healthcare, and business services, focusing on accelerating growth and building market-leading businesses [2][8] - PayByPhone is a global leader in mobile parking payments, simplifying the parking experience for over 110 million drivers worldwide through its app [5] Strategic Goals - Lightyear Capital's strategy involves partnering with strong management teams to broaden markets, strengthen operations, and create enduring enterprise value [3] - PayByPhone's management expresses excitement about the acquisition, highlighting Lightyear's fintech and payments expertise as a perfect fit for their long-term strategy to expand into wider mobility payments [3][4] Market Position - PayByPhone has established a strong user base with high customer retention rates and significant growth opportunities in the market [3] - The sale is expected to close in the second quarter of 2026, pending regulatory approvals [3]

Core Insights - Corpay, Inc. (CPAY) is set to release its fourth-quarter 2025 results on February 4, with expectations of surpassing the Zacks Consensus Estimate based on previous performance [1] Revenue Expectations - The Zacks Consensus Estimate for total revenues is $1.2 billion, reflecting a 19.9% increase from the same quarter last year [2] - Vehicle Payments segment revenues are estimated at $566.5 million, indicating a 13.8% year-over-year rise, driven by higher sales production, approval rates, and strong retention in the U.S. [2] - Corporate Payments revenues are projected to reach $475.8 million, a significant 37.4% increase from the previous year, supported by growth in spend volumes [3] - The Lodging Payments segment is expected to generate $119.8 million, showing a slight year-over-year decline [4] - Other Payments revenues are anticipated to be $79.4 million, marking a 13.9% growth from the prior year, attributed to a surge in the gift business [5] Earnings Projections - The consensus estimate for earnings per share is $5.95, suggesting an 11% year-over-year growth [5] - The current model indicates that CPAY may not conclusively predict an earnings beat, with an Earnings ESP of +4.14% and a Zacks Rank of 4 (Sell) [6]

Group 1: ClearBridge Investments and Mid Cap Strategy - ClearBridge Mid Cap Strategy underperformed against the Russell Midcap Index, which returned 0.16% during Q4 2025 due to narrow market leadership and sentiment-driven trading [1] - Weakness in information technology and real estate holdings negatively impacted returns, while gains in select consumer discretionary stocks provided partial support [1] - The portfolio management team expressed cautious optimism for the future, citing improving clarity around policy, interest rates, and business investment as potential positive factors for active stock selection [1] Group 2: Corpay Inc. Overview - Corpay Inc. (NYSE:CPAY) is a corporate payments company with a one-month return of 5.66% and a market capitalization of approximately $22.24 billion as of January 27, 2026 [2] - The stock has traded between $252.84 to $400.81 over the last 52 weeks, closing at approximately $317.96 per share [2] Group 3: ClearBridge's Position on Corpay Inc. - ClearBridge Investments exited its position in Corpay Inc. due to emerging stablecoin technologies introducing new uncertainties around its payments business [3] - Corpay Inc. is not among the 30 most popular stocks among hedge funds, with 45 hedge fund portfolios holding the stock at the end of Q3, up from 42 in the previous quarter [3] - ClearBridge believes that certain AI stocks present greater potential for higher returns in a shorter timeframe compared to Corpay Inc. [3]

Core Insights - Vltava Fund's fourth-quarter 2025 investor letter emphasizes insights gained from recent travels and outlines three main investment lessons [1] Company Overview - Corpay, Inc. (NYSE:CPAY) is highlighted as a key investment, focusing on corporate payments, expense management, and cross-border transactions [3] - The company aims to simplify and automate business payment flows for medium and large companies, replacing traditional fragmented processes with a digital solution [3] Financial Performance - As of January 6, 2026, Corpay, Inc. shares closed at $317.63, with a one-month return of 1.94% and a 52-week loss of 11.13% [2] - Corpay, Inc. reported a 14% growth in both revenue and cash EPS in the third quarter of 2025 [4] - The market capitalization of Corpay, Inc. is $22.429 billion [2] Investment Sentiment - Corpay, Inc. was included in Vltava Fund's portfolio during the past quarter, indicating a positive investment sentiment [3] - Despite its potential, Corpay, Inc. is not among the 30 most popular stocks among hedge funds, with 45 hedge fund portfolios holding its shares at the end of the third quarter, up from 42 in the previous quarter [4]

Core Insights - Corpay (CPAY) has outperformed the industry with a 6% gain over the past three months, while the industry saw a decline of 1.2% [1] - Earnings for CPAY are projected to increase by 10.6% year over year in Q4 2025, with further growth expected at 11.9% in 2025 and 16.7% in 2026. Revenues are anticipated to grow by 13.6% in 2025 and 15.6% in 2026 [1] Revenue Growth Drivers - CPAY's revenue growth is attributed to a multi-channel strategy that includes a comprehensive digital channel, direct sales forces, and partner relationships, enhancing its online capabilities for customer account management [3] Acquisitions and Investments - The company has been active in acquisitions, including the purchase of AvidXchange in October 2025, which will enhance its performance in accounts payable automation [4] - CPAY also acquired Alpha Group International plc, a European B2B cross-border FX solution firm, to expand its global customer reach and made a minority investment in Mastercard to leverage its financial institution network [5] Shareholder Value - CPAY has consistently repurchased shares, with buybacks totaling $849.9 million in 2020, $1.36 billion in 2021, $1.41 billion in 2022, $686.9 million in 2023, and $1.3 billion in 2024, which enhances shareholder value and confidence in the stock [6] Financial Health - As of the end of Q3 2025, CPAY's current ratio was 1.13, slightly below the industry average of 1.14, indicating the company's ability to meet short-term obligations [7] Market Position - CPAY currently holds a Zacks Rank of 3 (Hold), while competitors Genpact and Palantir Technologies have better rankings of 2 (Buy) [8]

Group 1 - Corpay, Inc. completed a $300 million minority investment from Mastercard, valuing its cross-border business at approximately $13 billion [1] - The partnership with Mastercard aims to enhance distribution of Corpay's cross-border services to Mastercard's financial institution customers [1][2] - Corpay is expanding its use of Mastercard Move for time-sensitive, real-time transactions as part of a broader corporate payments strategy [2] Group 2 - Corpay's management anticipates that Corporate Payments revenue will exceed $2 billion in 2026, accounting for over 40% of total company revenue [2] - Recent acquisitions, including Paymerang, GPS, and Alpha Group, along with a minority investment in AvidXchange, are part of Corpay's corporate payments expansion [2] - Goldman Sachs served as the exclusive financial advisor to Corpay, while Jones Day acted as legal counsel [3]