NYSE$CPAY
Corpay Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Corpay's financial performance in Q2 2024 showed slight improvements, with revenue, net income, and adjusted net income increasing compared to the same period last year.
Corpay reported a 3% increase in revenues to $975.7 million, a 5% increase in net income to $251.6 million, and a 3% increase in adjusted net income to $325.0 million for the second quarter of 2024. The company's Corporate Payments and Vehicle Payments segments delivered solid performance, driven by implementations and new sales. The company repurchased 2.2 million shares in the quarter.
- Revenues increased by 3% to $975.7 million.
- Net income attributable to Corpay increased by 5% to $251.6 million.
- Adjusted net income attributable to Corpay increased by 3% to $325.0 million.
- The company repurchased 2.2 million shares during the quarter, bringing the year-to-date total to 3.3 million shares.
Headline financials
Revenue & EPS history
Corpay · Revenue · Quarterly
$976M
Revenue by segment
Corpay · $471M total across 3 segments · Q3 2023
- Corporate Payments$259M+31.4%54.9%
- Lodging Payments$141M+12.2%30.0%
- Other$71M—15.1%
Forward guidance
Corpay updated its financial guidance for fiscal year 2024, including total revenues between $3,975 million and $4,025 million. Third quarter revenues are expected to be between $1,015 million and $1,035 million, and adjusted net income per diluted share between $4.90 and $5.00.
Tailwinds
- Total revenues between $3,975 million and $4,025 million.
- Net income between $1,058 million and $1,088 million.
- Net income per diluted share between $14.85 and $15.15.
- Adjusted net income between $1,345 million and $1,375 million.
- Adjusted net income per diluted share between $18.85 and $19.15.
Headwinds
- Slightly unfavorable foreign exchange rates compared with May outlook.
- Slightly unfavorable fuel prices compared with May outlook.
- Slower lodging recovery.
- Interest expense between $370 million and $390 million.
- A tax rate of approximately 24% to 25%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.3%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+1.9%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+12.8%
Q4 2016
Best reaction
-13.3%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.2% | +6.2% | +13.9% | |
| Q4 2025 | +11.6% | +18.7% | +4.7% | |
| Q3 2025 | +6.2% | +11.1% | +18.7% | |
| Q1 2025 | -0.4% | +7.2% | +3.4% | |
| Q4 2024 | +0.2% | -5.0% | -13.6% | |
| Q3 2024 | +4.9% | +7.3% | +4.8% | |
| Q2 2024 | +5.7% | +2.7% | +11.8% | |
| Q1 2024 | -7.1% | -5.6% | -15.0% | |
| Q4 2023 | -7.6% | -5.6% | +2.5% | |
| Q3 2023 | -2.0% | -1.8% | +9.7% | |
| Q2 2023 | +5.4% | +7.6% | +10.2% | |
| Q1 2023 | +8.0% | +11.0% | +13.4% | |
| Q4 2022 | -4.4% | -1.4% | -8.2% | |
| Q3 2022 | -6.7% | -3.4% | +3.7% | |
| Q2 2022 | -0.0% | +2.0% | -6.2% | |
| Q1 2022 | -11.7% | -12.0% | -4.1% | |
| Q4 2021 | +7.1% | +4.8% | -1.9% | |
| Q3 2021 | -0.2% | +2.1% | -14.1% | |
| Q2 2021 | +3.8% | +4.4% | +4.2% | |
| Q1 2021 | -2.2% | -3.3% | -5.4% | |
| Q4 2020 | +1.2% | +1.3% | +11.0% | |
| Q3 2020 | -2.1% | +17.6% | +13.0% | |
| Q2 2020 | -9.3% | -11.5% | -10.3% | |
| Q1 2020 | -0.2% | -5.0% | +17.4% | |
| Q4 2019 | -6.2% | -3.4% | -23.8% | |
| Q3 2019 | +1.7% | -0.3% | +5.5% | |
| Q2 2019 | +9.2% | +10.9% | +13.4% | |
| Q1 2019 | +3.7% | +2.7% | -2.1% | |
| Q4 2018 | +6.5% | +6.1% | +11.2% | |
| Q3 2018 | +9.2% | +7.7% | +4.6% | |
| Q2 2018 | -1.0% | -0.3% | -2.1% | |
| Q1 2018 | -5.0% | -3.4% | -4.7% | |
| Q4 2017 | -6.6% | -4.5% | +3.0% | |
| Q3 2017 | +10.3% | +8.8% | +9.4% | |
| Q2 2017 | -5.8% | -7.6% | -6.7% | |
| Q1 2017 | -2.2% | -5.5% | +2.2% | |
| Q4 2016 | +12.8% | +13.1% | +7.7% | |
| Q3 2016 | -13.3% | -14.4% | -17.0% | |
| Q2 2016 | +5.6% | +6.0% | +9.0% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | +1.5% | — | — | |
| Q3 2015 | +4.5% | — | — | |
| Q2 2015 | +3.1% | — | — | |
| Q1 2015 | -2.5% | — | — | |
| Q4 2014 | +1.8% | — | — | |
| Q3 2014 | +7.6% | — | — | |
| Q2 2014 | -4.1% | — | — | |
| Q1 2014 | +5.5% | — | — | |
| Q4 2013 | +6.9% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | +9.7% | — | — | |
| Q1 2013 | +7.3% | — | — | |
| Q4 2012 | +10.2% | — | — | |
| Q3 2012 | +3.6% | — | — | |
| Q4 2011 | +10.8% | — | — | |
| Q2 2012 | +9.6% | — | — | |
| Q1 2011 | -2.9% | — | — | |
| Q1 2012 | +0.5% | — | — | |
| Q4 2009 | +1.4% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q3 2011 | -2.0% | — | — | |
| Q3 2010 | -2.0% | — | — | |
| Q2 2010 | -2.5% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q4 2010 | -2.5% | — | — |
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