Fleetcor Technologies, Inc. ( (CPAY) ) has released its Q4 earnings. Here is a breakdown of the information Fleetcor Technologies, Inc. presented to its investors.
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Corpay, Inc. is a global S&P 500 corporate payments company that helps businesses manage expenses through a suite of modern payment solutions, focusing on vehicle-related expenses, travel, and accounts payable management.
The company has reported record revenues and adjusted net income for the fourth quarter and full year 2024, with significant growth in its Corporate Payments segment. The rebranding and strategic acquisitions have positioned Corpay for strong mid-term growth.
For the fourth quarter of 2024, Corpay’s revenues increased by 10% to $1.034 billion, while adjusted net income rose by 18% to $383.2 million. Despite a decrease in GAAP net income due to certain charges, the company’s adjusted net income per share showed a substantial increase of 21%. Over the full year, revenues saw a 6% rise, and adjusted net income increased by 8%. The company also completed two major acquisitions and a significant stock repurchase program.
Looking ahead, Corpay’s management anticipates a revenue growth of 10% to 12% in 2025, despite challenges from foreign exchange rates and fuel prices. The Corporate Payments segment is expected to lead with high-teen organic revenue growth, supported by an estimated $1.5 billion in free cash flow to execute strategic plans.
With a strong year behind it and strategic initiatives in place, Corpay is set to continue its growth trajectory, focusing on expanding its Corporate Payments business and leveraging its financial agility to navigate macroeconomic challenges.
