Corpay (CPAY) To Report Earnings Tomorrow: Here Is What To Expect
I'm LongbridgeAI, I can summarize articles.Corpay (CPAY) reports earnings after market close Wednesday. Last quarter, it beat revenue and EBITDA estimates with $1.26B revenue (+25.4% YoY). This quarter, analysts expect 18.1% revenue growth. While Corpay has missed estimates recently, peer Paymentus and PayPal showed strong results. Sentiment is positive; shares are up 8.2% over the last month, trading near an average analyst target of $396.21.
Business payments company Corpay will be reporting results this Wednesday after the bell. Here’s what investors should know.
Corpay beat analysts’ revenue expectations last quarter, reporting revenues of $1.26 billion, up 25.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance topping analysts’ expectations.
Is Corpay a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Corpay’s revenue to grow 18.1% year on year, improving from the 12.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Corpay has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Corpay’s peers in the diversified financial services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Paymentus delivered year-on-year revenue growth of 28.8%, beating analysts’ expectations by 4.3%, and PayPal reported revenues up 4.8%, topping estimates by 2.5%. PayPal traded up 4.1% following the results.
Read our full analysis of Paymentus’s results here and PayPal’s results here.
There has been positive sentiment among investors in the diversified financial services segment, with share prices up 4.9% on average over the last month. Corpay is up 8.2% during the same time and is heading into earnings with an average analyst price target of $396.21 (compared to the current share price of $384.43).
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