Corpay said revenue for Q1 2024 rose 4% to $935.3 million, and net income attributable to Corpay rose 7% to $229.8 million. The comparison period, Q1 2023, included $31 million of revenue from its divested Russia business.

1. 01

   Corpay said revenue for Q1 2024 rose 4% to $935.3 million, and net income attributable to Corpay rose 7% to $229.8 million. The comparison period, Q1 2023, included $31 million of revenue from its divested Russia business.

2. 02

   The company said its Corporate Payments revenue for Q1 2024 rose 17% to $265.4 million, while Lodging Payments revenue fell 9% to $111.3 million. It said the Lodging segment was soft during the quarter, but the workforce business showed initial signs of stability in April.

3. 03

   Corpay said operating cash flow for Q1 2024 was $350,184 thousand (Q1 2023 $877,665 thousand). Over the same period, it used $288,833 thousand for share repurchases and $56,325 thousand for acquisitions, net of cash acquired.

4. 04

   Corpay set its full-year revenue outlook at $3,960 million to $4,040 million and its adjusted net income per diluted share outlook at $18.80 to $19.20. The company said its outlook reflects unfavorable foreign exchange rates and higher interest rates, which significantly worsened in April.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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