Corpay (CPAY) Q1 2025 Earnings
How Did CPAY Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +6.87%.
Did CPAY Beat Earnings? Q1 2025 Results
No. Corpay reported Q1 2025 earnings of $4.51 a share on May 6, 2025, missing the $4.51 consensus estimate by 0.1%. Revenue was $1.0B against a $1.0B estimate.
Corpay posted a narrowly disappointing first quarter for 2025, with both earnings and revenue falling just short of Wall Street's expectations amid meaningful currency headwinds. The payments technology company reported adjusted EPS of $4.51, missing the $4.51 consensus by 0.08%, while revenue of $1.01 billion came in 0.96% below the $1.02 billion estimate, though still representing 7.5% growth year-over-year. The primary culprit was foreign exchange drag, with approximately $42.00 million in negative FX impact and an additional $6.00 million in fuel spread headwinds masking what management characterized as strong underlying momentum, particularly in Corporate Payments, which surged 33% to $352.66 million on robust spend volume growth. Adjusted EBITDA margin held firm at 55.2%, matching the prior-year period. Looking ahead, Corpay maintained its full-year 2025 revenue guidance of $4.38 billion to $4.46 billion, with adjusted EPS expected between $20.80 and $21.20, as management anticipates growth acceleration from new sale implementations across coming quarters.
- Corporate Payments segment grew 19% organically driven by strong spend volume growth
- Strong retention, same-store sales, and new sales/bookings fundamentals
- Cross-border business performed well amid currency market volatility
- Vehicle Payments grew 8% on pro forma macro-adjusted basis despite reported FX and fuel headwinds
- Lodging Payments room nights grew 19% year-over-year
- New sale implementations and ramping of new sales drove solid performance
“Our first quarter results were right in-line with our expectations. First quarter 2025 organic revenue growth was 9% and within that, our Corporate Payments segment grew 19%. Our fundamental trends: retention, same store sales and sales/new bookings, were very strong. Also, last week we announced an exciting investment and strategic partnership with Mastercard, and today we announced our plan to invest $500 million, alongside TPG, to acquire AvidXchange.”
Corpay CEO, on the earnings call
What Was Corpay's Outlook in Q1 2025?
Corpay maintained its original 2025 outlook while incorporating the recent Gringo acquisition. Full-year 2025 guidance: total revenues between $4,380 million and $4,460 million; net income between $1,167 million and $1,207 million; net income per diluted share between $16.37 and $16.77; adjusted net income between $1,485 million and $1,525 million; adjusted net income per diluted share between $20.80 and $21.20. Q2 2025 guidance: net income between $272 million and $282 million; net income per diluted share between $3.82 and $3.92; adjusted net income between $359 million and $369 million; adjusted net income per diluted share between $5.05 and $5.15. Key assumptions include weighted average U.S. fuel prices of $2.96/gallon, flat fuel price spreads, FX rates equal to April 2025 forward consensus, interest expense between $350 million and $380 million, approximately 72 million fully diluted shares, and an effective tax rate of 25.5% to 26.5%. Management expects revenue growth acceleration over coming quarters driven by new sale implementations and business initiatives.
CPAY YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.0B | $935.2M | +7.5% |
| Operating Income | $427.1M | $397.3M | +7.5% |
| Net Income | $243.2M | $229.8M | +5.9% |
CPAY Revenue by Segment
CPAY Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.