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Corpay Earnings: What To Look For From CPAY

CPAY Cover Image

Business payments company Corpay (NYSE: CPAY) will be announcing earnings results this Wednesday after market hours. Here’s what to expect.

Corpay beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $1.17 billion, up 13.9% year on year. It was a satisfactory quarter for the company, with but .

Is Corpay a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Corpay’s revenue to grow 19.8% year on year to $1.24 billion, improving from the 10.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $5.94 per share.

Corpay Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Corpay has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Corpay’s peers in the financial services segment, only Capital Southwest has reported results so far. It beat analysts’ revenue estimates by 5.3%, delivering year-on-year sales growth of 18.2%.

Read our full analysis of Capital Southwest’s earnings results here.

Investors in the financial services segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Corpay is down 1.2% during the same time and is heading into earnings with an average analyst price target of $361.23 (compared to the current share price of $305.03).

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