Corpay said consolidated revenues for 2024 were $3,974.6 million, an increase of 5.8% compared to the prior year. The company cited organic growth of 8% as a primary driver, with acquisitions contributing 2%, while the dispositions of its Russia and merchant solutions businesses reduced revenues by approximately $81 million, or 2%.

1. 01

   Corpay said consolidated revenues for 2024 were $3,974.6 million, an increase of 5.8% compared to the prior year. The company cited organic growth of 8% as a primary driver, with acquisitions contributing 2%, while the dispositions of its Russia and merchant solutions businesses reduced revenues by approximately $81 million, or 2%.

2. 02

   Corpay completed the sale of its merchant solutions business within the Vehicle Payments segment in December 2024 and received total proceeds of $185.5 million. The company recorded a net gain on disposal of $121.3 million during 2024.

3. 03

   Corpay recorded a non-cash goodwill impairment loss of $90.0 million on the goodwill within its Payroll Card reporting unit, which is a component of its "Other" category, in 2024. The company said operating loss for the Other segment in 2024 was $11.5 million.

4. 04

   Corpay said net cash provided by operating activities for 2024 was $1,940.6 million, a decrease from $2,101.1 million in 2023, with changes in working capital cited as a primary driver. Net borrowings on the Credit Facility and Securitization Facility in the same year were $1,271.2 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$4.0B

Operating income

$1.8B

Net income

$1.0B

EPS

$13.97

Operating cash flow

$1.9B

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.