Corpay, Inc.: Beat — EPS $7.54, Revenue $1.38B
Earnings BeatQ3 2026 · After-market
Did Corpay, Inc. (CPAY) beat earnings today?
Yes, Corpay, Inc. (CPAY) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+4.72% surprise
$7.54Actual
Expected: $7.20
vs. year ago +32.0%
Total Revenue+1.61% surprise
$1.38BActual
Expected: $1.36B
vs. year ago +18.0%
Released Nov 04 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.38B | $1.17B | 18.0 |
| Revenue detail — reported lines | |||
| └─Corporate Payments | $571.30M | $405.85M | 41.0 |
| └─Vehicle Payments | $579.84M | $538.30M | 8.0 |
| └─Lodging Payments | $131.11M | $127.01M | 3.0 |
| └─Other | $99.68M | $101.32M | -2.0 |
| Net Income | $378.42M | $277.94M | 36.0 |
| GAAP Basic EPS | $5.73 | $3.95 | 45.0 |
| GAAP Diluted EPS | $5.66 | $3.91 | 45.0 |
| Adjusted Diluted EPS | $7.54 | $5.70 | 32.0 |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | FY2026 Outlook | ||
|---|---|---|---|---|
| Guidance | Expected | Guidance | Expected | |
| Total revenues | ~$1.37B | $1.36BBeat +0.74% | $5.340B-$5.360B (+18% YoY | $5.32BBeat +0.56% |
| Net income | $361M-$381M | — | $1.337B-$1.357B | — |
| Net income per diluted share | $5.59-$5.79 | $7.43Miss -23.42% | $20.03-$20.23 | $27.42Miss -26.59% |
| Adjusted net income | $485M-$505M | — | $1.847B-$1.867B | — |
| Adjusted net income per diluted share | $7.55-$7.75 | — | $27.90-$28.10 (+31% YoY | — |
| Interest expense | — | — | $435M-$455M | — |
| Weighted average U.S. fuel prices | — | — | $4.90/gallon | — |
| Diluted shares | 65M | — | ~66M | — |
Q4 2026 Outlook
- Total revenues
- Guidance~$1.37BExpected$1.36BBeat +0.74%
- Net income
- Guidance$361M-$381MExpected—
- Net income per diluted share
- Guidance$5.59-$5.79Expected$7.43Miss -23.42%
- Adjusted net income
- Guidance$485M-$505MExpected—
- Adjusted net income per diluted share
- Guidance$7.55-$7.75Expected—
- Interest expense
- Guidance—Expected—
- Weighted average U.S. fuel prices
- Guidance—Expected—
- Diluted shares
- Guidance65MExpected—
FY2026 Outlook
- Total revenues
- Guidance$5.340B-$5.360B(+18% YoYExpected$5.32BBeat +0.56%
- Net income
- Guidance$1.337B-$1.357BExpected—
- Net income per diluted share
- Guidance$20.03-$20.23Expected$27.42Miss -26.59%
- Adjusted net income
- Guidance$1.847B-$1.867BExpected—
- Adjusted net income per diluted share
- Guidance$27.90-$28.10(+31% YoYExpected—
- Interest expense
- Guidance$435M-$455MExpected—
- Weighted average U.S. fuel prices
- Guidance$4.90/gallonExpected—
- Diluted shares
- Guidance~66MExpected—
Business Highlights
- ➤Corporate Payments recorded strong performance in spend management and cross-border.
- ➤Repurchased 1.9 million shares for $747 million during the third quarter.
- ➤Repurchased 5.25 million shares for $1.85 billion through quarter-end.
- ➤Sold the PayByPhone mobile parking-payments business to a third party in March 2026.
- ➤Corpay operates three B2B solution sets: Spend Management, Cross-Border, and Vehicle Solutions.
- ➤Cross-Border provides global multi-currency account solutions and foreign-currency exposure management.
- ➤Vehicle Solutions manages fuel, tolls, parking and related vehicle spend.
- ➤Recent transactions include the AvidXchange partnership-interest acquisition and Alpha acquisition.
Management Commentary
Ron Clarke, Chairman and Chief Executive Officer, Corpay, Inc.
“Our third quarter results were excellent, with revenue growth of 18% and adjusted net income per diluted share growth of 32%, both ahead of our expectations.”
Ron Clarke, Chairman and Chief Executive Officer, Corpay, Inc.
“Organic revenue growth for the quarter was 11%. We've delivered 11% organic growth for five of the last six quarters.”
Peter Walker, Chief Financial Officer, Corpay, Inc.
“Corporate Payments delivered 18% organic revenue growth driven by strong performance in both spend management and cross-border, and we delivered 57.4% EBITDA margins due to the high flow through rate on revenue.”
Peter Walker, Chief Financial Officer, Corpay, Inc.
“Through the end of the quarter we've repurchased 5.25 million shares for $1.85 billion, inclusive of the 1.9 million shares repurchased for $747 million in the third quarter.”
Peter Walker, Chief Financial Officer, Corpay, Inc.
“We are raising our full-year 2026 outlook to reflect our strong third quarter results and improved expectations for the fourth quarter.”
Peter Walker, Chief Financial Officer, Corpay, Inc.
“At the midpoint, our updated guidance calls for full-year revenue of $5.35 billion and adjusted net income per diluted share of $28.00, representing growth of 18% and 31%, respectively.”
Peter Walker, Chief Financial Officer, Corpay, Inc.
“For the fourth quarter, we expect revenue of approximately $1.37 billion and adjusted net income per diluted share of $7.65 at the midpoint.”