Q2 2026 Corpay, Inc. Earnings Call Transcript
Key Points
- Revenue of $1.34 billion, up 21% year-over-year, exceeded expectations by $45 million.
- Cash EPS of $7.00, up 36%, set an all-time company earnings record.
- Corporate Payments segment delivered 16% organic growth, with strong performance in cross-border and payables.
- Sales bookings grew 30% year-over-year, with retention steady at 93%.
- Raised full-year 2026 revenue guidance to $5.31 billion and cash EPS to $27.35, reflecting 17% and 28% growth, respectively.
- Organic revenue growth in the Vehicle Payments segment was only 8%, below the company's overall 10% target.
- The U.S. vehicle business remains a slower growth area, with sales investment reallocated to higher-return corporate payments.
- The Epyx divestiture is expected to reduce 2026 revenue by approximately $40 million.
- A $100 million settlement charge related to the FTC matter negatively impacted operating costs.
- Float revenue compression from lower interest rates created a 180 basis point drag on Corporate Payments organic growth.
Hello, everyone, and welcome to today's Corpay's second-quarter 2026 earnings conference call. (Operator Instructions) Please note, this call is being recorded. We are standing by if you should need any assistance. And it's now my pleasure to turn the meeting over to Jim Eglseder. Please go ahead.
Good afternoon, and thank you for joining us today for our earnings call to discuss the second quarter 2026 results. With me today are Ron Clarke, our Chairman and CEO; and Peter Walker, our CFO. Our earnings release and supplemental materials for the quarter are available on the Investor Relations section of Corpay.com. Please refer to these materials for an explanation of the non-GAAP financial measures discussed on this call along with the reconciliation of those measures to the most applicable GAAP measures. Our remarks today will include forward-looking statements about expected operating and financial results, strategic initiatives, acquisitions and divestitures, among other matters.
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