Core Insights - Corpay, based in Atlanta, specializes in payments software services for managing corporate lodging expenses, primarily serving clients in North America and the UK [3] - The company reported significant revenue from its various segments, with the largest unit generating approximately $2 billion, followed by corporate payments at $1.2 billion, and lodging at $489 million [4] Financial Performance - The lodging segment has shown weakness in the second quarter and is expected to continue negatively impacting overall performance in the latter half of the year [6] - Corpay aims to achieve mid-single-digit to 10% revenue growth in the lodging segment, which has been hindered by fewer weather emergencies and airline disruptions [7] Strategic Decisions - If revenue growth does not improve, Corpay may consider divesting its lodging unit, as indicated by the new CFO Peter Walker [7] - The CEO Ron Clarke also mentioned the possibility of selling the lodging unit, which is the third-largest segment, along with other non-core vehicle businesses already on the market [7]
Corpay mulls asset sales
Yahoo Financeยท2025-09-09 10:02