Key Highlights

  • Second-quarter revenue was $1,338.8 million, up 21%, with organic growth of 10%.
  • Adjusted EPS was $7.00, up 36%.
  • A $100 million preliminary FTC settlement charge remains subject to approval.
  • Full-year adjusted EPS guidance was raised to $27.15–$27.55.

Corpay, Inc. (NYSE:CPAY) combines strong growth in cash earnings with the cost of a proposed settlement with the U.S. Federal Trade Commission. The payments company is a member of the S&P 500, so developments in its earnings power and legal exposure are relevant to index-linked investors. It has a market capitalisation of about $26.1 billion, and its next earnings date is estimated for November 4, 2026.

Latest Company Context

Corpay reported second-quarter 2026 results on August 5. Revenue was $1,338.8 million, up 21%, with organic growth of 10% and Corporate Payments organic growth of 16%. GAAP net income attributable to Corpay was $248.3 million, down 13%, and diluted EPS was $3.70, down 7%; these include a $100 million preliminary FTC settlement charge that the release says remains subject to customary approval. Adjusted net income rose 27% to $464.4 million, adjusted EPS was $7.00 (up 36%) and adjusted EBITDA rose 24% to $767.2 million.

The company repurchased 1 million shares for $321 million in the quarter and sold its PayByPhone business in March 2026, recording a $122.5 million gain in the first half.

Key Business and Index Drivers

Management raised full-year 2026 guidance to revenue of $5.290 billion to $5.330 billion, adjusted net income of $1.790 billion to $1.830 billion and adjusted EPS of $27.15 to $27.55, with GAAP EPS of $19.50 to $19.90. Third-quarter guidance is for revenue of about $1.355 billion and adjusted EPS of $7.05 to $7.25.

The gap between GAAP and adjusted EPS is notable: adjusted figures exclude items such as amortisation and the settlement charge. Drivers include cross-border payments, fuel-card volumes, corporate payments growth and the contribution of acquisitions such as Alpha, which the release says was acquired in Q4 2025. Product developments, including AI agent tools for spend control, could also matter. S&P 500 membership places Corpay among the larger U.S. companies tracked by passive funds, though its weight is modest.

What Investors Should Watch

Investors may watch whether third-quarter results land near the guided $7.05 to $7.25 adjusted EPS, and whether organic growth stays around 10%. Final approval and terms of the FTC settlement, and any operational changes it requires, could be relevant. Capital allocation, including the buyback pace and potential acquisitions, may also draw attention. Currency movements and fuel prices could influence reported results.

Strong Adjusted Growth Alongside a One-Off Regulatory Cost

Corpay posted strong adjusted growth alongside a one-off regulatory cost. The FTC settlement still awaits approval, and third-quarter guidance of $7.05 to $7.25 in adjusted EPS is the next benchmark.