Corpay said consolidated revenues for the 3 months ended September 30, 2025 were $1,172.5 million, an increase of 13.9%. The company cited organic growth of 11% and contributions from acquisitions completed in 2024 and 2025 of 3%, and said the increase was partially offset by approximately $9 million from the disposition of its merchant solutions business in December 2024.

1. 01

   Corpay said consolidated revenues for the 3 months ended September 30, 2025 were $1,172.5 million, an increase of 13.9%. The company cited organic growth of 11% and contributions from acquisitions completed in 2024 and 2025 of 3%, and said the increase was partially offset by approximately $9 million from the disposition of its merchant solutions business in December 2024.

2. 02

   Corpay said Corporate Payments revenues for the 3 months increased to $409.7 million, up 27.3%, Vehicle Payments revenues increased to $553.2 million, up 9.2%, and Lodging Payments revenues decreased to $127.0 million, down 5.2%. Lodging Payments operating income decreased to $57.1 million, down 12.8%.

3. 03

   Corpay said the provision for income taxes for the 3 months was $143.3 million with an effective tax rate of 34.0%, compared to $82.0 million and 22.9% in the prior period. The company cited discrete taxes from legal entity and tax restructuring actions and the adoption of Pillar Two legislation as factors, and said net income attributable to Corpay was $277.9 million.

4. 04

   Corpay said net cash provided by operating activities for the 9 months in 2025 was $687.2 million, a decrease from $1,291.9 million in the prior period, primarily due to changes in working capital. As of September 30, 2025, total liquidity was approximately $3.4 billion, including approximately $1.4 billion of available borrowing capacity under its Credit Facility and unrestricted cash of $2.0 billion.

Key figures

Quarter ended September 30, 2025

Revenue

$1.2B

Operating income

$523M

Net income

$278M

EPS

$3.91

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.