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Corpay, Inc., a FLEETCOR Technologies company (NYSE: FLT), is a leading global provider of business payment solutions dedicated to helping companies of all sizes better manage, track, and pay their expenses. Corpay offers a comprehensive suite of online payment solutions, including Bill Payment, AP Automation, Cross-Border Payments, Currency Risk Management, and Commercial Card Programs. As the #1 B2B commercial Mastercard® issuer in North America, Corpay processes over a billion transactions each year, ensuring businesses gain complete control and visibility of all transactions while simultaneously reducing costs and maximizing efficiency.
With its recent partnership with Reveel, Corpay has expanded its capabilities by integrating advanced parcel spend management tools into its payment automation platform. This collaboration empowers businesses to streamline their financial operations, optimize costs, and make informed decisions with real-time data. The joint solution also offers cash rebates on most AP transactions, providing additional revenue opportunities for businesses.
Headquartered in Irvine, California, Corpay serves over 500,000 commercial accounts with millions of cardholders across the United States, Canada, Mexico, Europe, Africa, and Asia. The company has experienced significant growth, driven by its core principles of determination, outstanding value, industry-leading products, and a commitment to quality. Over the last decade, Corpay has grown more than 40%, maintaining its position as the world’s largest provider of commercial fleet card programs.
Corpay’s financial technology solutions are designed to consolidate card programs, manage expenses on-the-go, and automate payment workflows. This ensures businesses can mitigate the risk of payment fraud, manage their payment remittance information securely, and achieve compliance with a robust security infrastructure. Corpay’s innovative products and strategic partnerships continue to revolutionize the financial management landscape, providing businesses with the tools they need to succeed in a competitive market.
FLEETCOR Technologies reported strong financial results for Q3 2021, achieving record profits with a 25% increase in adjusted EPS and a 29% rise in revenue, totaling $755.5 million. Organic revenue growth reached 17%, bolstered by a 22% increase in corporate payments. The company raised its full-year EPS guidance to $13.05, driven by robust sales momentum and successful integrations from the ALE acquisition. Adjusted net income also saw a significant increase of 22%, amounting to $294.4 million. Outlook remains positive with projected revenue growth of 17% and adjusted EPS growth of 18% for FY 2021.
Comdata, a FLEETCOR company, has partnered with RoadSync to enhance payment efficiency in the logistics sector. This collaboration will integrate Comdata's Fleet Payment Solutions with RoadSync Checkout, facilitating faster transactions for truckers and carriers amid ongoing supply chain challenges. The partnership addresses manual payment processing inefficiencies, allowing for quicker, secure payments, improving cash flow and profitability for users. Comdata's extensive network will now provide enhanced payment capabilities, benefiting over 30,000 businesses in managing more than $55 billion in annual spending.
FLEETCOR Technologies, Inc. (NYSE: FLT) announced a conference call to discuss its third quarter financial results on Wednesday, November 3, 2021, at 5:00 PM ET. The call will be hosted by CEO Ron Clarke, CFO Charles Freund, and investor relations representative Jim Eglseder. A press release with the financial results will be available after market close on the same day. The call can be accessed via webcast or by phone, with replay options available until November 10, 2021.
FLEETCOR Technologies (NYSE: FLT) has announced its participation in two upcoming virtual investor conferences. The first is a fireside chat at Deutsche Bank’s 2021 Technology Conference on September 10, 2021, starting at 9:20 AM ET. The second event is at the JP Morgan All Stars Conference on September 22, 2021, beginning at 9:00 AM ET. Interested investors can access the events via the company's investor relations website.
Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has partnered with AMI Strategies to enhance international bill pay capabilities for AMI clients. The collaboration enables clients to access up-to-date currency conversion rates in USD and offers options to confirm or lock in exchange rates for 45-60 days via forward contracts. This partnership allows AMI’s customers to manage expenses in over 145 currencies with delivery to 200+ countries, using the temNOW™ platform, thereby improving control over international billing and spend insights.
FLEETCOR Technologies, Inc. (NYSE: FLT) reported strong financial results for Q2 2021, with total revenues increasing by 27% to $667.4 million and net income rising by 24% to $196.2 million. Adjusted EPS grew by 38% to $3.15. The company raised its financial guidance for the year, expecting revenues between $2,740 million and $2,790 million and adjusted net income per diluted share between $12.80 and $13.00. Enhanced results are attributed to organic growth, higher fuel prices, and favorable foreign exchange rates, alongside a robust share repurchase program.
FLEETCOR Technologies (NYSE: FLT) announced its definitive agreement to acquire ALE Solutions, a leader in lodging solutions for the insurance industry. This acquisition, expected to close in Q3 2021 pending regulatory approval, will enhance FLEETCOR's lodging capabilities by adding approximately 5 million room nights annually and tens of thousands of long-term housing rentals. With ALE's specialized expertise and established insurer relationships, FLEETCOR aims to expand its footprint in the insurance vertical, reinforcing its position in the lodging market.
FLEETCOR Technologies (NYSE: FLT) will host a conference call on August 4, 2021, at 5:00 PM ET to discuss its second quarter financial results. The call will feature CEO Ron Clarke, CFO Charles Freund, and Investor Relations Jim Eglseder. A press release with financial results will be issued after market close on the same day. Interested parties can access the call via webcast or by phone. A replay will be available shortly after the call, lasting until August 11, 2021. FLEETCOR is a leading global business payments company serving various industries worldwide.
Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has partnered with Steamchain Corp. to enhance payment solutions for the global shipping and logistics sectors. This collaboration aims to reduce currency conversion costs, mitigate currency fluctuation risks, and streamline document flow. With Steamchain's innovative platform and Cambridge's extensive global payment services, they plan to offer businesses a fast and efficient way to manage international payments. This partnership is expected to benefit companies engaged in cross-border commerce.
Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has partnered with Sage to integrate its online trading and payments platform with Sage Intacct. This collaboration allows Sage clients to make mass payments in over 145 currencies to 200 countries, enhancing accounts payable efficiency by streamlining payment processes. Corinne MacMillan highlighted that this integration aims to improve cross-border payment delivery and reduce operational costs. This partnership signifies Cambridge's commitment to simplifying financial operations for businesses.
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