Corpay quarterly profit rises on corporate payments strength

Corpay

07/05/2026 22:24

May 7 (Reuters) - Business payments firm Corpay CPAY.N reported a jump in first-quarter adjusted profit on Thursday, driven by growth in its corporate and vehicle payments segments.

Corpay's corporate payments business, which automates and manages vendor payments, saw quarterly revenue grow 46% from a year earlier to $503.9 million.

The vehicle payments segment saw quarterly net revenue jump 19% from a year earlier to $563.9 million, while total revenue surged 25% to $1.26 billion.

The segment benefited from higher fuel prices during the period, which lifted transaction values and fee income.

On an adjusted basis, Corpay reported a quarterly profit of $397.2 million, or $5.80 per share, compared to $322.9 million, or $4.51 per share, a year earlier.

“We are raising our full-year outlook as a result of our first-quarter over-performance, the expected higher rest-of-year fuel prices and our first-quarter fundamental trends running ahead of our expectations,” said Peter Walker, the company's finance chief.

Annual revenue is now expected between $5.25 billion and $5.33 billion, compared with its prior forecast of $5.22 billion and $5.32 billion.

(Reporting by Pragyan Kalita and Arasu Kannagi Basil in Bengaluru; Editing by Jonathan Ananda)

((Pragyan.Kalita@thomsonreuters.com;))