Analyst Consensus ?
ConsensusBuy18 ratings
Bullish1477.8%
Neutral422.2%
Bearish00.0%
Corpay, Inc. · CPAY · FY2025 Q2 · Calendar Q3 2025
Corpay Q2 2025: Growth Raised, Lodging Lags
The supplied analysis supports a constructive but qualified view: resilient demand in Corporate Payments, expanding payables products and cross-border partnerships, and raised guidance provide evidence for continued growth. That case is tempered by Lodging weakness, execution risk in M&A and divestitures, and exposure to tariff, FX and regulatory uncertainty.
Reported After market closeNYSETechnology
$25.79B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.13
Consensus $5.12
EPS surprise
+0.2%
Reported versus consensus
Reported revenue
$1.10B
Consensus $1.10B
Revenue surprise
+0.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-3.4%
Event window
SPY move
-0.1%
Same window
Abnormal move
-3.3%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+4.0%
Up to 20 sessions
CPAYSPY benchmark
Ask FN2 about CPAY FY2025 Q2
Transcript, numbers and history already loaded
Why did CPAY fall 3.4% after beating EPS estimates in FY2025 Q2?What changed in CPAY's guidance and outlook in FY2025 Q2?Give me the bull and bear case for CPAY after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, guidance moved from maintained to raised. The current analysis adds stronger evidence on Corporate Payments and Vehicle Payments growth, while identifying continued Lodging weakness and new execution priorities around Alpha, Circle, Corpay Complete, MCA and divestitures.
Guidance delta
Management raised full-year guidance modestly, an improvement from the prior quarter's maintained guidance.
Key takeaways
- Q2 revenue and EPS beat expectations, with 13% year-over-year growth.
- Corporate Payments delivered 18% organic growth, while Vehicle Payments was expected to reach 10% organic growth in the second half.
- Lodging declined 2% year over year and remains a drag.
- Management highlighted Alpha, Circle, Corpay Complete and MCA as growth initiatives, alongside planned non-core divestitures.
Management priorities
- Close the Alpha acquisition in Q4 and integrate recent M&A.
- Scale the Circle partnership for stablecoin on- and off-ramps.
- Expand Corpay Complete internationally and pursue enterprise payables clients.
- Execute non-core divestitures to fund growth and improve the portfolio.
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Estimate
Beat
Miss
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Analyst 52W Price Targets
$399.75Current
$285Low
$405.57Average
$536High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 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 current price $399.75. 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 | +34.1% | Sep 2, 2026 |
| RBC Capital | Analyst unavailable | $438 | $407.88 | +9.6% | Aug 31, 2026 |
| Wolfe Research | Analyst unavailable | $530 | $413.92 | +32.6% | Aug 25, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $480 | $397.2 | +20.1% | Aug 10, 2026 |
| Morgan Stanley | Analyst unavailable | $455 | $397.55 | +13.8% | Aug 7, 2026 |
| Robert W. Baird | David Koning | $475 | $394.15 | +18.8% | Aug 6, 2026 |
| UBS | Analyst unavailable | $415 | $390.5 | +3.8% | Aug 6, 2026 |
| RBC Capital | Analyst unavailable | $423 | $394.53 | +5.8% | Aug 6, 2026 |
| Wolfe Research | Darrin Peller | $475 | $394.53 | +18.8% | Aug 6, 2026 |
| Raymond James | Madison Suhr | $442 | $394.53 | +10.6% | Aug 6, 2026 |
| Morgan Stanley | Michael Infante | $415 | $379.71 | +3.8% | Jul 28, 2026 |
| Wolfe Research | Analyst unavailable | $450 | $359.82 | +12.6% | Jun 3, 2026 |
| Loop Capital Markets | Analyst unavailable | $406 | $348.5 | +1.6% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $400 | $343.99 | +0.1% | May 10, 2026 |
| Oppenheimer | Analyst unavailable | $388 | $338.65 | -2.9% | May 8, 2026 |
| Raymond James | John Davis | $361 | $324.33 | -9.7% | Mar 5, 2026 |
| UBS | Analyst unavailable | $380 | $354.96 | -4.9% | Feb 10, 2026 |
| Mizuho Securities | Dan Dolev | $340 | $335 | -14.9% | Feb 6, 2026 |
| RBC Capital | Analyst unavailable | $363 | $331.01 | -9.2% | Feb 5, 2026 |
| Oppenheimer | Analyst unavailable | $378 | $331.13 | -5.4% | Feb 5, 2026 |
| Morgan Stanley | Michael Infante | $390 | $300.28 | -2.4% | Feb 5, 2026 |
| Cantor Fitzgerald | Ramsey El-Assal | $385 | $324 | -3.7% | Jan 26, 2026 |
| Morgan Stanley | Analyst unavailable | $379 | $320.52 | -5.2% | Jan 26, 2026 |
| Oppenheimer | Rayna Kumar | $380 | $297.39 | -4.9% | Dec 5, 2025 |
| Williams Trading | Trevor Williams | $300 | $260.35 | -25.0% | Nov 3, 2025 |
| Morgan Stanley | James Faucette | $356 | $301.7 | -10.9% | Aug 10, 2025 |
| Raymond James | John Davis | $392 | $304.5 | -1.9% | Aug 7, 2025 |
| Robert W. Baird | David Koning | $440 | $350.59 | +10.1% | Jun 10, 2025 |
| BMO Capital | Rufus Hone | $400 | $366.01 | +0.1% | Nov 8, 2024 |
| Mizuho Securities | Dan Dolev | $265 | $335.47 | -33.7% | Oct 29, 2024 |
| Morgan Stanley | James Faucette | $325 | $338.92 | -18.7% | Oct 29, 2024 |
| Williams Trading | Trevor Williams | $375 | $306.88 | -6.2% | Sep 18, 2024 |
| Williams Trading | Trevor Williams | $350 | $297.52 | -12.4% | Jul 18, 2024 |
| Barclays | Ramsey El-Assal | $330 | $267.15 | -17.4% | Jun 22, 2024 |
| Wells Fargo | Andrew Bauch | $285 | $257.92 | -28.7% | Jun 5, 2024 |
| Barclays | Ramsey El-Assal | $350 | $283.44 | -12.4% | May 13, 2024 |
| BMO Capital | Rufus Hone | $350 | $290.74 | -12.4% | May 9, 2024 |
| RBC Capital | Daniel Perlin | $310 | $304.5 | -22.5% | May 9, 2024 |
| Barclays | Ramsey El-Assal | $355 | $296.29 | -11.2% | Apr 16, 2024 |
| Williams Trading | Trevor Williams | $355 | $305.72 | -11.2% | Apr 12, 2024 |
Track every rating change on CPAY the moment it posts. Free to start.
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 |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the CPAY recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T15:10:42.515289+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T15:10:42.512357+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 2026-10-05. For educational purposes only; not investment advice.