Corpay quarterly profit rises on resilient consumer spending

Corpay

05/11/2025 22:08

Nov 5 (Reuters) - Business payments firm Corpay CPAY.N reported a rise in third-quarter profit on Wednesday, as resilient consumer spending helped its corporate and vehicle payment divisions, and forecast full-year revenue above estimates.

Consumer spending has remained strong in the July to September quarter, even though trade policy fears and inflationary pressures weighed on discretionary spending, helping payment-facing firms such as card companies and Corpay.

Atlanta, Georgia-based Corpay provides payment and spend management solutions aimed at helping businesses and consumers better manage their transactions.

The company's corporate payments division, which automates and manages vendor payments, reported quarterly net revenue of $409.7 million, up 27% from last year.

"Total company organic growth improved 500 bps year over year, almost doubling, to 11% in the third quarter, led by improvement in our Vehicle Payments segment and specifically our U.S. Vehicle Payments business," Chief Financial Officer Peter Walker said in a statement.

Net revenue at vehicle payments rose 9% from last year in the third quarter.

Adjusted net income attributable to Corpay came in at $405.2 million, or $5.7 per share, for the three months ended September 30, compared with $354.5 million, or $5 per share, in the year-ago quarter.

The company expects net revenue in the range of $4.505 billion to $4.525 billion, above the Street's expectation of $4.453 billion, according to estimates compiled by LSEG.

 (Reporting by Pritam Biswas in Bengaluru; Editing by Alan Barona)

 ((Pritam.Biswas@thomsonreuters.com))