Revenue: As of FY2026 Q2, the actual value is USD 1.339 B, beating the estimate of USD 1.3 B.

EPS: As of FY2026 Q2, the actual value is USD 3.7, missing the estimate of USD 4.9419.

EBIT: As of FY2026 Q2, the actual value is USD 466 M.

Second Quarter 2026 Financial Highlights

Overall Performance

Corpay, Inc. reported 21% revenue growth and 36% adjusted EPS growth for the second quarter of 2026. Organic revenue grew by 10% for the fifth consecutive quarter.

GAAP Results

• Revenues, net: Increased 21% to $1,338.8 million in the second quarter of 2026, up from $1,102.0 million in the second quarter of 2025. For the six months ended June 30, 2026, revenues, net were $2,599.8 million, a 23% increase from $2,107.7 million in the prior year period.
• Net income attributable to Corpay: Decreased 13% to $248.3 million in the second quarter of 2026, compared to $284.2 million in the second quarter of 2025. For the six months ended June 30, 2026, net income attributable to Corpay was $598.4 million, a 13% increase from $527.4 million in the prior year period.
• Operating Income: For the three months ended June 30, 2026, operating income was $472.3 million, a -1% change from $479.4 million in the prior year period. For the six months ended June 30, 2026, operating income was $1,108.4 million, a 22% increase from $906.5 million in the prior year period.
• Expenses (Q2 2026 vs Q2 2025):
  • Processing: $275.2 million (15% increase).
  • Selling: $150.6 million (30% increase).
  • General and administrative: $223.7 million (26% increase).
  • Depreciation and amortization: $118.3 million (29% increase).
  • Other operating, net: $99.9 million (not meaningful change).
• Other Expenses (Q2 2026 vs Q2 2025):
  • Interest expense, net: $114.7 million (18% increase).
  • Loss on extinguishment of debt: $6.6 million (not applicable in 2025).
• FTC Settlement: A $100 million charge was recorded for a preliminary settlement with the FTC’s Bureau of Consumer Protection.

Non-GAAP Results

• Organic revenue growth: 10% in the second quarter of 2026.
• Adjusted EBITDA: Increased 24% to $767.2 million in the second quarter of 2026, compared to $620.6 million in the second quarter of 2025. For the six months ended June 30, 2026, Adjusted EBITDA was $1,455.8 million, up from $1,176.0 million in the prior year period.
• Adjusted EBITDA margin: 57.3% in the second quarter of 2026, compared to 56.3% in the second quarter of 2025.
• Adjusted net income attributable to Corpay: Increased 27% to $464.4 million in the second quarter of 2026, compared with $366.4 million in the second quarter of 2025. For the six months ended June 30, 2026, adjusted net income attributable to Corpay was $861.6 million, up from $689.3 million in the prior year period.

Operational Metrics by Segment (Q2 2026 vs Q2 2025)

• Corporate Payments:
  • Revenues, net: $548.7 million (42% increase).
  • Organic revenue growth: 16%.
  • Spend volume: $94,635 million (70% increase).
  • Revenues, net per spend $: 0.58% ( -17% decrease).
  • Operating income: $199.6 million (27% increase).
• Vehicle Payments:
  • Revenues, net: $580.2 million (13% increase).
  • Transactions: 147.6 million ( -29% decrease).
  • Parking transactions: -67.8 million ( -100% decrease) due to the sale of PayByPhone in March 2026.
  • Revenues, net per transaction: $3.93 (59% increase).
  • Operating income: $190.1 million ( -21% decrease).
• Lodging Payments:
  • Revenues, net: $123.2 million (3% increase).
  • Room nights: 7.5 million ( -13% decrease).
  • Revenues, net per room night: $16.34 (18% increase).
  • Operating income: $49.5 million (no meaningful change).
• Other:
  • Revenues, net: $86.7 million (5% increase).
  • Transactions: 450.4 million (7% increase).
  • Revenues, net per transaction: $0.19 ( -2% decrease).
  • Operating income: $33.1 million (5% increase).

Balance Sheet and Cash Flow (Six Months Ended June 30, 2026 vs 2025)

• Cash and cash equivalents: $3,163.5 million as of June 30, 2026, compared to $2,408.1 million as of December 31, 2025.
• Restricted cash: $7,004.8 million as of June 30, 2026, compared to $6,583.8 million as of December 31, 2025.
• Total assets: $28,224.2 million as of June 30, 2026, compared to $26,408.1 million as of December 31, 2025.
• Net cash provided by operating activities: $1,413.5 million, up from $1,066.1 million in the prior year period.
• Net cash provided by investing activities: $321.5 million, compared to net cash used of -$222.6 million in the prior year period, including proceeds from disposition, net of cash, of $421.7 million.
• Net cash used in financing activities: -$419.7 million, compared to net cash provided of $78.4 million in the prior year period, including repurchases of common stock totaling -$1,112.5 million.
• Debt: The company strengthened its balance sheet by refinancing debt facilities and increased its revolving credit facility to $3.7 billion.
• Leverage ratio: 2.55x at quarter-end.
• Share Repurchases: Corpay repurchased 1 million shares for $321 million during the quarter.

Outlook and Guidance

Corpay, Inc. raised its full-year 2026 outlook due to strong second-quarter performance, favorable macro conditions, and continued confidence in business strength. For fiscal year 2026, total revenues are expected to be between $5.290 billion and $5.330 billion, with adjusted net income per diluted share projected between $27.15 and $27.55, representing 28% growth at the midpoint year over year. For the third quarter of 2026, revenue is anticipated to be approximately $1.355 billion at the midpoint, growing 16% year over year, and adjusted net income per diluted share is expected to be $7.15 at the midpoint, growing 26% year over year.