Companies /Technology

Corpay Inc

NYSE: CPAY Software - Infrastructure
$416.37
▼ $3.31 (−0.79%) today
Markets closed · 7:59pm ET

Q1 2026 Earnings

Reported May 7, 2026, 4:14pm ET · SEC source
$5.80
Beat +6.03%
EPS · est. $5.47
$1.3B
Beat +4.02%
Revenue · est. $1.2B
+3.1%
Beating market
CPAY vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%+8%May 7May 8report 4:14pm ETearnings+0.8%+9.1%
−4%0+4%+8%May 7May 8earnings+0.8%+9.1%
CPAY +9.1%S&P 500 +0.8%
−4%0+4%+8%May 7May 8report 4:14pm ETearnings+2.3%+9.1%
−4%0+4%+8%May 7May 8earnings+2.3%+9.1%
CPAY +9.1%NASDAQ +2.3%
0+4%+8%+12%May 6May 15report 4:14pm ETearnings+1.0%+7.4%
0+4%+8%+12%May 6May 15earnings+1.0%+7.4%
CPAY +7.4%S&P 500 +1.0%
0+4%+8%+12%May 6May 15report 4:14pm ETearnings+2.0%+7.4%
0+4%+8%+12%May 6May 15earnings+2.0%+7.4%
CPAY +7.4%NASDAQ +2.0%
+12.51%
Day of report
−0.70%
Next session
−4.58%
One week
+1.45%
30 days

S&P 500 over the same 30 days: −1.65%.

Did CPAY Beat Earnings? Q1 2026 Results

Corpay delivered a strong first quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines as the payments technology company reported revenue of $1.26 billion, up 25.4% year over year and ahead of the $1.21 billion consensus by 4.02%, while adjusted EPS of $5.80 cleared the $5.47 estimate by 6.03%. The standout driver was Corporate Payments, which posted 46% reported revenue growth and $81.85 billion in spend volumes, aided significantly by the Alpha Group acquisition closed late last year. Organic revenue growth held at 11% for the fourth consecutive quarter, a metric management pointed to as evidence of durable underlying momentum. Profitability also impressed, with adjusted EBITDA rising 24% to $688.60 million at a 54.6% margin, more than 100 basis points above internal expectations. Analysts covering the payments sector have maintained bullish stances on the stock, citing fundamental trends running ahead of plan. Management raised full-year 2026 guidance, now targeting revenue of $5.25 to $5.33 billion and adjusted EPS of $26.30 to $27.10.

Key Takeaways
  • Corporate Payments segment delivered 16% organic revenue growth
  • Organic revenue growth of 11% for the fourth consecutive quarter
  • Corporate Payments spend volume increased 71% YoY to $81.9 billion
  • Vehicle Payments revenue per transaction grew 14% YoY
  • Lodging revenue per room night increased 34% YoY
  • EBITDA margins over 100 basis points higher than expected due to high revenue flow-through
  • Favorable foreign exchange impact of approximately $62 million on revenue
  • Gain on disposition of PaybyPhone business of $121.4 million

“Our first quarter results were outstanding, with revenue growth of 25% and adjusted net income per share growth of 29%, finishing well ahead of expectations.”

Corpay CEO, on the earnings call

Forward Guidance & Outlook

Corpay raised its full-year 2026 guidance, now expecting total revenues of $5.250–$5.330 billion, GAAP net income of $1.352–$1.432 billion, GAAP EPS of $20.39–$21.19, adjusted net income of $1.746–$1.826 billion, and adjusted EPS of $26.30–$27.10. For Q2 2026, revenue is expected at approximately $1.295 billion at the midpoint (18% YoY growth), with adjusted EPS of $6.55 at the midpoint (28% YoY growth). Key assumptions include weighted average U.S. fuel prices of $4.17/gallon, flat fuel price spreads versus 2025, interest expense of $415–$445 million, approximately 67 million diluted shares, an adjusted effective tax rate of 25%–27%, free cash flow used to pay down debt, and no impact from material acquisitions or divestitures not yet closed.

CPAY YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$400.0M$800.0M$1.2B$1.0B$1.3BRevenue$427.1M$636.2MOperating Income$243.2M$350.1MNet Income
$0$400.0M$800.0M$1.2BRevenueOperating IncomeNet Income

CPAY Revenue by Segment

Vehicle Payments$563.9M+19.0%
Corporate Payments$503.9M+46.0%
Lodging Payments$111.0M+1.0%
Other (Gift and Payroll Card)$82.2M+8.0%
Other (Gift and Payroll Cards)

CPAY Revenue by Geography

United States$543.0M+7.1%
Rest of World$302.0M+58.9%
Brazil$211.0M+29.4%
United Kingdom$205.0M+40.4%

Figures from SEC filings and company reports. Not investment advice.