10-Q · May 8, 2026
Corpay, Inc. reported strong Q1 2026 results, with revenues rising to $1.261 billion, a 25.4% increase year-over-year, and a notable EPS of $5.07, up 43.9% from the prior year. The company achieved these results through…
Earnings analysis · 10-Q
CPAY earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Corpay delivered a strong Q2 2026, with revenue of $1.338 billion and diluted EPS of $7.00, beating consensus by approximately 3.1% and 7.9%, respectively. Revenue and EPS also increased approximately 6.2% and 38%…
Read full summary
Corpay delivered a strong Q2 2026, with revenue of $1.338 billion and diluted EPS of $7.00, beating consensus by approximately 3.1% and 7.9%, respectively. Revenue and EPS also increased approximately 6.2% and 38% sequentially, and 21.6% and 76% year over year. The principal filing-specific overhang is the $100 million FTC charge and the possibility of additional costs if the proposed consent order is not approved or its terms change; no quantitative forward guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $7.0
What stood out
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Revenue accelerated and beat consensus
Second-quarter revenue was $1.338 billion, up from $1.26 billion in Q1 2026 and $1.10 billion in Q2 2025, representing approximately 6.2% sequential and 21.6% year-over-year growth. Revenue exceeded the $1.298345640 billion consensus estimate by approximately 3.1%.
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EPS substantially exceeded estimates
Reported diluted EPS was $7.00 versus $5.07 in Q1 2026 and $3.98 in Q2 2025, increases of approximately 38% sequentially and 76% year over year. EPS exceeded the $6.49 consensus estimate by approximately 7.9%.
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FTC matter moves toward resolution
Management recorded a $100 million charge related to the proposed FTC consent order, which is intended to resolve the FTC investigation, federal litigation, administrative action and remaining related issues, subject to approvals.
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Significant buyback capacity remains
The board increased the repurchase program by $1.0 billion to $11.1 billion on April 23, 2026. Since inception, Corpay had repurchased 39,058,875 shares for $9.7 billion and had $1.4 billion of authorization remaining as of June 30, 2026.
What to watch
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FTC settlement could require additional costs
The proposed FTC consent order remains subject to FTC Commissioner and District Court approval. Corpay has recorded a $100 million charge, but stated that failure to approve the order or changes to its terms could result in additional redress and/or penalties.
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Ongoing buybacks consume capital
Corpay repurchased 1,014,528 shares during Q2 2026 at an average price of $316.80, while $1.4 billion remained available under the program as of June 30, 2026. Continued repurchases could reduce liquidity available for other corporate purposes.
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No formal risk-factor update
The filing states that there were no material changes to the risk factors disclosed in the December 31, 2025 Form 10-K. However, ordinary-course legal proceedings remain capable of materially affecting results, with the filing noting that resolution could adversely affect results or financial condition for a particular period.
Management's outlook
The 10-Q does not provide quantitative revenue or EPS guidance; no explicit outlook range was disclosed.
Earlier filings 4
10-K · February 27, 2026
Corpay positions itself as a global, multi-product corporate payments platform with scale in cross-border, card, AP automation and vehicle/lodging payments. Revenue and margins expanded through 2025 (Q4 revenue $1.25B;…
10-Q · November 10, 2025
Corpay reported Q3 revenue of $1,172,480,000, up from $1,029,197,000 in Q3 2024, driving operating income of $523,120,000 (about 44.6% of revenue). Diluted EPS was $3.91 for the quarter. Operating cash flow for the nine…
10-Q · August 9, 2024
Corpay reported Q2 net revenue of $975.71 million and diluted EPS of $3.52. Gross margin expanded to 78.6% and operating margin to 44.4%, supported by operating income of $433.34 million, while the six‑month free cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.