Corpay

Corpay, Inc. (Corpay) is a business payments company based in Atlanta, Georgia. It describes itself as the Global Spend Management Company. It has four reporting lines. Corporate Payments (corporate and virtual cards, accounts payable automation, and cross-border payments) earned $571.3 million of the $1,381.9 million of revenue in Q3 2026.

Vehicle Payments (fuel cards, tolls and parking) earned $579.8 million. Lodging Payments earned $131.1 million, and Other earned $99.7 million. Ron Clarke is Chairman and Chief Executive Officer, and Peter Walker is Chief Financial Officer. The shares trade on NYSE in US dollars.

Corpay files 10-K and 10-Q reports. It had 63,971,827 shares outstanding at October 30, 2026.

The price of Corpay depends on whether double-digit organic growth continues while debt and costs stay in check. In Q3 2026, revenue rose 18% to $1,381.9 million, organic revenue rose 11%, and adjusted net income per diluted share rose 32% to $7.54. Net income per diluted share under US GAAP was $5.66. The guidance for adjusted earnings per share of $27.90 to $28.10 in 2026 leaves out stock-based compensation of $134 million and amortization of $340 million before tax.

Corpay has bought 5.25 million shares for $1.85 billion in 2026, and diluted shares fell to 66.4 million in Q3. Debt was $11,233 million at September 30, 2026, after the purchase of Alpha in October 2025. In November 2026, Corpay sold its Maintenance business for about $800 million, and plans to use the proceeds to repay debt. For the price to hold or rise, three things must be true.

Organic growth must stay near 11%. Fuel prices and spreads must not fall. Debt must fall after the sale. The Q4 2026 report in February 2027 is the next test.

If these hold, the gap can close over the next two years. If cross-border or fuel profits fall, or if rates rise, the gap can last longer.

AI estimate, checked by Kevin. How it is made

1. Feb 3, 2027 · est.Pending

   Q4 2026 results and 2027 guidanceOrganic growth stays near 11% and 2027 guidance for adjusted earnings per share is above the 2026 guidance, and this passes; slower growth or a lower guide fails.
2. May 2027 · est.Pending

   Q1 2027 results: debt after the Maintenance saleTotal debt falls after the sale proceeds and free cash flow, and this passes; a flat debt level fails.

Every passed and failed checkpoint across all picks

• November 4, 2026Corpay reported Q3 2026 results. Revenue rose 18% to $1,381.9 million, and net income was $378.4 million, or $5.66 per diluted share. Adjusted net income per diluted share was $7.54. Corporate Payments grew 18% on an organic basis.
• November 4, 2026Corpay raised its 2026 guidance. It now expects revenue of $5.340 billion to $5.360 billion, and adjusted net income per diluted share of $27.90 to $28.10. For Q4 2026, it expects revenue of about $1.37 billion and adjusted net income per diluted share of about $7.65.
• November 2, 2026Corpay completed the sale of its Maintenance business for about 600 million pounds, about $800 million. It expects a pre-tax gain of $460 million to $515 million.

Last earnings

November 4, 2026 (8-K on sec.gov)

Next earnings

Expected about February 3, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 5, 2026 · cpay-20260930
• 8-KEarnings release and Investor disclosureFiled November 4, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 10, 2026 · cpay-20260630
• 8-KEarnings release and Investor disclosureFiled August 5, 2026 · Press release and exhibits
• 8-KChange of directors or officersFiled July 24, 2026 · flt-20260722
• 8-KNew material agreement and Investor disclosureFiled May 22, 2026 · flt-20260521
• 8-KInvestor disclosureFiled May 12, 2026 · flt-20260512
• 8-KShareholder vote resultsFiled May 12, 2026 · flt-20260507
• 10-QQuarterly report for the period ended Mar 31, 2026Filed May 8, 2026 · cpay-20260331
• 8-KEarnings release and Investor disclosureFiled May 7, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 1175454)

• Debt is large. Total debt was $11,233 million at September 30, 2026, of which $5,161 million is current. This includes a securitization facility of $2,300 million. A rise in rates raises interest cost. Corpay expects interest expense of $435 million to $455 million in 2026.
• Fuel prices and spreads drive Vehicle Payments. The guidance assumes a fuel price of $4.90 per gallon and flat spreads for the rest of 2026.
• Adjusted earnings leave out costs. The 2026 guidance adds back stock-based compensation of $134 million and amortization of $340 million, and the GAAP earnings per share guidance is $20.03 to $20.23.
• Cross-border payments and foreign exchange can change results. Brazil earned 16% and the United Kingdom earned 15% of revenue in Q3 2026.
• Corpay holds about 35% of the equity of the AvidXchange partnership with TPG, for which it paid about $578 million. The agreement gives Corpay a right to buy the rest after 33 months.

At September 30, 2026, Corpay had cash of $3,073 million and total debt of $11,233 million, of which $5,161 million is current. Term Loan A was $3,271 million, Term Loan B was $2,906 million, revolving credit was $2,755 million and the securitization facility was $2,300 million. Read more

Corpay does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.