Key Highlights

  • Revenue rose 18% to USD 1,381.9 million in the third quarter from USD 1,172.5 million, with organic Revenue growth of 11%, ahead of what management had expected for the period.
  • GAAP Net Income per diluted share rose 45% to USD 5.66, while adjusted net income per diluted share rose 32% to USD 7.54 from USD 5.70.
  • Adjusted EBITDA increased 17% to USD 793.8 million from USD 676.7 million, while Corporate Payments revenue rose 41% to USD 571.3 million, an increase of about USD 165.4 million (calculated) from USD 405.9 million.
  • Corpay repurchased 1.9 million shares for USD 747 million in the quarter, bringing the year-to-date total to 5.25 million shares for USD 1.85 billion.

Revenue Up 18% and Adjusted EPS Up 32% in Q3

Corpay (NYSE:CPAY) reported third quarter 2026 results on November 4, 2026. Revenue of USD 1,381.9 million rose 18% from USD 1,172.5 million, and the company described organic growth as 11%, the same rate it has posted in five of the last six quarters. GAAP net income rose 36% to USD 378.4 million, or USD 5.66 per diluted share against USD 3.91. On an adjusted basis, net income rose 24% to USD 500.7 million, or USD 7.54 a share against USD 5.70. Adjusted EBITDA of USD 793.8 million compared with USD 676.7 million a year earlier. The chief executive said revenue growth and adjusted Earnings growth were both ahead of the company's own expectations.

Corporate Payments Carries the Quarter

Corpay is a global payments company that handles fleet, corporate and lodging payments. Corporate Payments revenue rose 41% to USD 571.3 million, with 18% organic growth that the finance chief attributed to spend management and cross-border activity, at an EBITDA Margin of 57.4%. Vehicle Payments revenue was USD 580 million, up from USD 538 million, and Lodging Payments was USD 131.1 million, up 3%. Acquisitions such as Alpha, acquired in the fourth quarter of 2025, contribute to reported growth, so organic figures are the cleaner read. The company also sold its PayByPhone parking Business in March 2026, and its maintenance business is classified as held for sale.

Raised Guidance, Buybacks and Fuel Price Assumptions

Corpay (NYSE:CPAY) raised its 2026 outlook to revenue of USD 5.340 billion to USD 5.360 billion, GAAP EPS of USD 20.03 to USD 20.23 and adjusted EPS of USD 27.90 to USD 28.10, which implies 31% growth at the midpoint. For the fourth quarter it expects revenue of about USD 1.37 billion and adjusted EPS of USD 7.65 at the midpoint. Assumptions include fuel at USD 4.90 per gallon, a 24% to 26% adjusted tax rate and interest expense of USD 435 million to USD 455 million. Fuel prices, foreign exchange rates and interest rates all feed into the outlook, and any move in them could shift results.

Where Things Stand

Management says yes at the full-year level, but the answer depends on inputs outside its control. Corpay (NYSE:CPAY) guides to 31% adjusted EPS growth at the midpoint and about USD 7.65 for the fourth quarter. Growth came from 18% revenue expansion, a high-margin Corporate Payments segment and share repurchases. Watch fuel prices, currency moves, the use of maintenance business sale proceeds to cut debt, and further buybacks as the year closes.