CORPAY - CPAY STOCK NEWS

Corpay (NYSE: CPAY) has launched Multi-Currency Accounts, enabling businesses to manage local and foreign currencies through a single access point. The solution addresses common challenges in international transactions by providing dedicated accounts for different currencies under the business's name.

The service completed a pilot phase and is launching with 12 major traded currencies. Key benefits include simplified currency exchanges, increased payor confidence through local currency accounts, streamlined accounting with unique account identifiers, and 24/7 online access for global communication and multi-currency management.

The development process incorporated customer feedback and industry research to create a solution that helps businesses overcome challenges like complex foreign bank account management, language barriers, and unpredictable rates and fees.

Corpay (NYSE: CPAY) reported strong Q4 2024 results with record revenues of $1,034.4 million, up 10% from Q4 2023. The company achieved 12% organic revenue growth and 21% adjusted EPS growth in Q4, exceeding mid-term targets. Corporate Payments segment grew 20% for the full year.

For full-year 2024, revenues increased 6% to $3,974.6 million, with net income rising 2% to $1,003.7 million. The company deployed over $2.5 billion in capital, including two Corporate Payments acquisitions and $1.3 billion in stock repurchases.

Looking ahead to 2025, Corpay projects revenue growth of 10-12%, with total revenues expected between $4,350-4,450 million. The company forecasts adjusted net income per diluted share between $20.75-21.25 and approximately $1.5 billion in free cash flow.

Corpay (NYSE: CPAY) has announced the signing of definitive documents to acquire Gringo, a leading Brazilian vehicle registration and compliance payment company. Gringo operates as a super app for car drivers in Brazil, facilitating instant payments for vehicle taxes, registration, and fines through its digital platform and national network.

The acquisition marks Corpay's second deal in the 'car debts' category. Gringo currently serves 2.5 million monthly active users and is experiencing over 30% annual revenue growth. The car debts addressable segment is approximately three times larger than tolls and less penetrated, offering significant growth potential.

The deal is expected to increase Brazil's overall organic revenue growth rate by three percentage points this year. Corpay plans to integrate its full suite of vehicle payment products, including tolls, fuel, parking, and insurance, with Gringo's platform. The transaction is pending regulatory approval and anticipated to close near the end of Q1 2025.

GasBuddy has launched its new Pay with GasBuddy+™ card, offering drivers up to 33 cents per gallon savings on fuel purchases. The card, powered by Corpay (NYSE: CPAY), extends beyond fuel discounts to provide savings at convenience stores nationwide where Mastercard is accepted.

Key benefits include: 3¢/gal on every fill-up, 5¢/gal at select stations, up to 30¢/gal with activated Deal Alerts, and 3¢/gal savings for every $25 spent on non-fuel purchases inside convenience stores. Premium cardholders can save up to 50¢/gal with activated Deal Alerts.

With Americans spending $2,000 to $4,000 annually on fuel, the card's savings potential could result in hundreds of dollars in annual savings. The card is available for free signup with no credit check required.

Guidewire (NYSE: GWRE) has appointed Jeff Sloan to its Board of Directors, effective January 21, 2025. Sloan, who served as CEO of Global Payments Inc. (NYSE: GPN) through June 2023, brings significant executive leadership experience in financial services and technology industries.

During his tenure at Global Payments, Sloan led the company's rise to the Fortune 500 as a leading technology-enabled, software-driven payments business. Prior to serving as CEO, he was Global Payment's president from 2010 to 2013 and a partner at Goldman Sachs. He currently serves on the board of directors of Corpay (NYSE: CPAY), a global leader in corporate payments.

The appointment comes as Guidewire Cloud Platform establishes itself as the trusted platform for P&C insurers globally, positioning the company for continued growth and innovation.

Jack Henry (JKHY) highlights its successful partnership with Corpay for international wire transfers since September 2023. The collaboration integrates Corpay's Cross-Border Solutions with Jack Henry's platform through jXchange™, ensuring secure data exchange and maintaining data integrity.

Peapack Private Bank & Trust reports successful onboarding of over 200 clients to Corpay's platform, praising their communication and service quality. Corpay is developing a new user interface and digital wallet capabilities to enhance services for Jack Henry Wires customers.

The partnership combines core banking technology with cross-border payment processing to streamline operations and improve global payment experiences. Corpay will also serve as the provider for international wire transfers via the Jack Henry Wires™ platform, which offers next-generation capabilities for creating, sending, and receiving wire transfers for community and regional financial institutions.

Corpay (NYSE: CPAY) has scheduled its fourth quarter and full year 2024 financial results announcement for February 5, 2025. The company will release its financial results after market close, followed by a conference call at 5:00 pm ET.

The call will be hosted by CEO Ron Clarke, CFO Tom Panther, and IR Jim Eglseder. Investors can access the call through a live webcast on the company's investor relations website or by phone using the dial-in numbers (877)-423-9813 or (201)-689-8573 with Conference ID 13751017.

A replay will be available for one week until February 12, 2025, accessible via (844)-512-2921 or (412)-317-6671 for international callers, using replay conference ID 13751017.

TA Connections, a Corpay (NYSE: CPAY) company, has announced a strategic collaboration with Uber for Business (NYSE: UBER). This collaboration introduces a new integration within TA Disruption Hub, a flight disruption management solution. The integration allows airlines to assist disrupted passengers by scheduling Uber rides, in addition to flight rebooking, meal vouchers, and accommodations. The aim is to improve customer experience during flight disruptions by providing a seamless rider experience, enabling passengers to view trip details and driver location.

This integration is designed to reduce the workload on airline customer service teams and provide greater visibility and cost control for airlines. Mike Appleton, President of TA Connections, emphasized the potential for improved passenger experience, more efficient disruption management, and reduced customer service costs. Josh Butler, Global GM of Uber for Business, highlighted the aim to ease stress for passengers and customer service teams.

TA Connections plans future integrations and services to continue improving airline operations and passenger experience.

Corpay Cross-Border has been named the official and exclusive Global Foreign Exchange (FX) Partner of UFC, the world's premier mixed martial arts organization. As part of this partnership, Corpay will serve as the Presenting Partner of select UFC Fight Nights in Asia, Australia, Europe, and the Middle East.

The partnership includes branded entitlements featuring Corpay's integration into the UFC Fight Deck LED display around the Octagon and branding at the UFC Prep Point. Corpay will also maintain visibility at UFC fight week activities, including press conferences and weigh-ins. The partnership will debut at UFC FIGHT NIGHT Riyadh in Saudi Arabia on February 1st at The Venue, Riyadh.