Analyst Consensus ?
ConsensusBuy18 ratings
Bullish1477.8%
Neutral422.2%
Bearish00.0%
Corpay, Inc. · CPAY · FY2024 Q3 · Calendar Q4 2024
Corpay posts record revenue as Corporate Payments accelerates
The quarter supports a constructive operating picture: Corporate Payments growth, cross-sell initiatives and acquisitions outweighed ongoing North America fleet and lodging uncertainty. The durability of that growth depends on execution, FX and the conversion of strategic investments into broader revenue.
Reported After market closeNYSETechnology
$26.43B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.00
Consensus $4.97
EPS surprise
+0.6%
Reported versus consensus
Reported revenue
$1.03B
Consensus $1.03B
Revenue surprise
+0.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.6%
Event window
SPY move
+0.4%
Same window
Abnormal move
+5.2%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-1.2%
Up to 20 sessions
CPAYSPY benchmark
Ask FN2 about CPAY FY2024 Q3
Transcript, numbers and history already loaded
Why did CPAY rise 5.6% after beating EPS estimates in FY2024 Q3?What changed in CPAY's guidance and outlook in FY2024 Q3?Give me the bull and bear case for CPAY after FY2024 Q3 earnings.
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Transcript intelligence
What changed
Corpay crossed $1 billion in quarterly revenue for the first time, with Corporate Payments growth strengthening and the U.S. sales organization consolidated under a new CRO. Compared with the prior analysis, guidance sentiment moved from lowered to maintained, while the company added detail on Paymerang, GPS Capital Markets and PayByPhone initiatives.
Guidance delta
Maintained: Q4 revenue growth of 13% and cash EPS of $5.35; 2025 organic revenue growth of 9–11% and EPS of $22.
Key takeaways
- Revenue reached $1.29 billion and cash EPS was $5.
- Corporate Payments grew 18% year over year, led by Brazil and cross-border volumes.
- A new U.S. sales organization and CRO are intended to expand the mid-market payables opportunity.
- Recent acquisitions broaden the payments platform, while North America fleet remains a watchpoint.
Management priorities
- Deploy the expanded U.S. cross-sell team and marketing program.
- Integrate Paymerang and GPS Capital Markets while continuing to integrate Zapay Brazil.
- Expand PayByPhone services, including vehicle maintenance and EV charging payments.
- Pursue additional corporate-payments acquisitions and maintain share repurchases.
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Analyst 52W Price Targets
$402.56Previous close
$285Low
$405.57Average
$536High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 20, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 31, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 25, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 10, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Aug 6, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 28, 2026 |
| Baird | Outperform | Outperform | Maintain | Mar 31, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Feb 6, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jan 12, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Aug 7, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 24, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 14, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Dec 13, 2024 |
| Citigroup | Buy | Buy | Maintain | Nov 14, 2024 |
| Jefferies | Buy | Buy | Maintain | Oct 16, 2024 |
| B of A Securities | Buy | Buy | Maintain | Oct 15, 2024 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jun 25, 2024 |
Named analyst price targets
Upside is calculated against the persisted previous close $402.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Scotiabank | Analyst unavailable | $536 | $404.81 | +33.1% | Sep 2, 2026 |
| RBC Capital | Analyst unavailable | $438 | $407.88 | +8.8% | Aug 31, 2026 |
| Wolfe Research | Analyst unavailable | $530 | $413.92 | +31.7% | Aug 25, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $480 | $397.2 | +19.2% | Aug 10, 2026 |
| Morgan Stanley | Analyst unavailable | $455 | $397.55 | +13.0% | Aug 7, 2026 |
| Robert W. Baird | David Koning | $475 | $394.15 | +18.0% | Aug 6, 2026 |
| UBS | Analyst unavailable | $415 | $390.5 | +3.1% | Aug 6, 2026 |
| RBC Capital | Analyst unavailable | $423 | $394.53 | +5.1% | Aug 6, 2026 |
| Wolfe Research | Darrin Peller | $475 | $394.53 | +18.0% | Aug 6, 2026 |
| Raymond James | Madison Suhr | $442 | $394.53 | +9.8% | Aug 6, 2026 |
| Morgan Stanley | Michael Infante | $415 | $379.71 | +3.1% | Jul 28, 2026 |
| Wolfe Research | Analyst unavailable | $450 | $359.82 | +11.8% | Jun 3, 2026 |
| Loop Capital Markets | Analyst unavailable | $406 | $348.5 | +0.9% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $400 | $343.99 | -0.6% | May 10, 2026 |
| Oppenheimer | Analyst unavailable | $388 | $338.65 | -3.6% | May 8, 2026 |
| Raymond James | John Davis | $361 | $324.33 | -10.3% | Mar 5, 2026 |
| UBS | Analyst unavailable | $380 | $354.96 | -5.6% | Feb 10, 2026 |
| Mizuho Securities | Dan Dolev | $340 | $335 | -15.5% | Feb 6, 2026 |
| RBC Capital | Analyst unavailable | $363 | $331.01 | -9.8% | Feb 5, 2026 |
| Oppenheimer | Analyst unavailable | $378 | $331.13 | -6.1% | Feb 5, 2026 |
| Morgan Stanley | Michael Infante | $390 | $300.28 | -3.1% | Feb 5, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $385 | $324 | -4.4% | Jan 26, 2026 |
| Morgan Stanley | Analyst unavailable | $379 | $320.52 | -5.9% | Jan 26, 2026 |
| Oppenheimer | Rayna Kumar | $380 | $297.39 | -5.6% | Dec 5, 2025 |
| Williams Trading | Trevor Williams | $300 | $260.35 | -25.5% | Nov 3, 2025 |
| Morgan Stanley | James Faucette | $356 | $301.7 | -11.6% | Aug 10, 2025 |
| Raymond James | John Davis | $392 | $304.5 | -2.6% | Aug 7, 2025 |
| Robert W. Baird | David Koning | $440 | $350.59 | +9.3% | Jun 10, 2025 |
| BMO Capital | Rufus Hone | $400 | $366.01 | -0.6% | Nov 8, 2024 |
| Mizuho Securities | Dan Dolev | $265 | $335.47 | -34.2% | Oct 29, 2024 |
| Morgan Stanley | James Faucette | $325 | $338.92 | -19.3% | Oct 29, 2024 |
| Williams Trading | Trevor Williams | $375 | $306.88 | -6.8% | Sep 18, 2024 |
| Williams Trading | Trevor Williams | $350 | $297.52 | -13.1% | Jul 18, 2024 |
| Barclays | Ramsey El-Assal | $330 | $267.15 | -18.0% | Jun 22, 2024 |
| Wells Fargo | Andrew Bauch | $285 | $257.92 | -29.2% | Jun 5, 2024 |
| Barclays | Ramsey El-Assal | $350 | $283.44 | -13.1% | May 13, 2024 |
| BMO Capital | Rufus Hone | $350 | $290.74 | -13.1% | May 9, 2024 |
| RBC Capital | Daniel Perlin | $310 | $304.5 | -23.0% | May 9, 2024 |
| Barclays | Ramsey El-Assal | $355 | $296.29 | -11.8% | Apr 16, 2024 |
| Williams Trading | Trevor Williams | $355 | $305.72 | -11.8% | Apr 12, 2024 |
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Start freeCompany context
Snapshot as of publicationCorpay, Inc. operates as a global financial technology firm, delivering payment solutions that assist both businesses and individual consumers in efficiently managing a diverse range of expenditures. Its expertise primarily covers vehicle-related costs, corporate financial transactions, and lodging expenses, with operations spanning the United States, Brazil, the United Kingdom, and numerous other international markets. Among its specialized services are comprehensive vehicle payment offerings, which include provisions for fuel, road tolls, parking fees, fleet maintenance, and long-distance transportation. The company also supplies prepaid vouchers and cards for food and transit requirements.…
Historical context
All CPAY earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| WIT Wipro Limited | FY2027 Q2 · Calendar Q4 2026 | -25.0% | +3.9% | Wipro: AI pipeline expands as Q3 guidance stays narrow |
| TSM Taiwan Semiconductor Manufacturing Company Limited | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -1.8% | TSMC beats Q3 guidance as AI demand drives fab expansion |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | FY2026 Q3 · Calendar Q4 2026 | +28.6% | +11.8% | Ericsson Q3: 7% organic growth, resilient margins and AI-led demand |
Latest beats and misses
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Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
- Polygon adjusted daily market bars · 2026-10-20T07:40:44.906951+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-20T07:40:44.904055+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-20. For educational purposes only; not investment advice.