Welcome to our dedicated page for Corpay news (Ticker: FLT), a resource for investors and traders seeking the latest updates and insights on Corpay stock.
Corpay, Inc. (FLT) delivers specialized payment solutions for global fleet management and commercial transactions. This page serves as the definitive source for verified corporate news, offering stakeholders timely insights into the company’s strategic direction.
Access official press releases, financial disclosures, and operational updates to stay informed about Corpay’s fuel card innovations, partnership announcements, and market expansions. Our curated collection ensures transparency for investors analyzing commercial payment trends or fleet management developments.
Key content includes quarterly earnings reports, acquisition details, and product launch announcements. Bookmark this page for direct access to primary sources that clarify Corpay’s position in the competitive financial technology landscape.
Cambridge Global Payments, a FLEETCOR company (NYSE: FLT), has been named the endorsed provider of foreign currency exchange and international payment solutions by the Western Equipment Dealers Association (WEDA), North America's largest equipment dealer association. This partnership grants access to over 2,000 WEDA members to Cambridge's innovative solutions, helping them mitigate foreign exchange risks and manage global payments efficiently. Mark Frey, President of Cambridge, emphasizes the value of their services in enhancing members' business growth.
FLEETCOR Technologies, Inc. (NYSE: FLT) has finalized the acquisition of Associated Foreign Exchange (AFEX), enhancing its corporate payments portfolio. This strategic move strengthens FLEETCOR's position in the global payments market and is expected to accelerate revenue growth in corporate payments. The company anticipates the acquisition will positively impact its 2021 adjusted EPS, raising guidance to a range of $12.32 - $12.88. With AFEX, FLEETCOR aims to unify its corporate payments businesses, maximizing marketing returns and cross-selling opportunities.
Stored Value Solutions (SVS) has extended its partnership with NEXCOM to enhance the NEXt Level Rewards Loyalty Program, launched on April 1, 2021, coinciding with NEXCOM's 75th anniversary. Customers earn rewards each time they shop, starting with a $10 reward upon signing up. Monthly rewards will be issued based on shopping frequency, and customers can access rewards via email and mobile wallets. SVS manages over 700 million card products, processing 1.5 billion transactions annually. This partnership aims to improve customer engagement with secure digital solutions.
FLEETCOR Technologies (NYSE:FLT) will participate in three virtual investor conferences in May and June 2021. The schedule includes:
- May 19, 2021 - Barclays Emerging Payments and Fintech Forum at 10:00 AM ET.
- May 26, 2021 - JP Morgan 49th Annual Global Technology, Media and Communications Conference at 11:10 AM ET.
- June 1, 2021 - William Blair 41st Annual Growth Stock Conference at 5:00 PM ET.
Investors can access the presentations via the company’s investor relations website.
FLEETCOR Technologies (NYSE: FLT) has renewed its long-term card acceptance agreement with Pilot Flying J, enhancing services for Comdata and Fuelman Network customers. This partnership, which spans nearly four decades, allows FLEETCOR to offer diverse fuel solutions to commercial fleets across North America. FLEETCOR's Chairman and CEO, Ron Clarke, expressed optimism for future collaboration, indicating a strong foundation for years of mutual benefit.
FLEETCOR Technologies (NYSE: FLT) announced a joint venture in Brazil with CAIXA, the largest bank in the country. This 20-year agreement, in partnership with VR Benefícios, will provide CAIXA's customers with a wide range of electronic payment solutions, including fuel cards and food vouchers. CAIXA's extensive network encompasses 99% of Brazilian municipalities, with 146 million clients. The joint venture aims to enhance payment flexibility and security for millions of Brazilians. Regulatory approval is required from multiple bodies before the agreement can proceed.
BetterInvesting Magazine named Fleetcor Technologies (NYSE: FLT) as the "Stock to Study" and Carnival Corp. (NYSE: CCL) as the "Undervalued Stock" for July 2021. The announcement reflects the expectation that stimulus payouts will affect investment decisions as Americans adapt to a post-pandemic economy. BetterInvesting emphasizes the importance of informed investment choices and encourages potential investors to utilize their online tools for analysis. For further insights, details will be available in the August 2021 issue of the magazine.
FLEETCOR Technologies reported its Q1 2021 results, with a revenue decline of 8% year-over-year, totaling $608.6 million. Despite this, net income increased by 25% to $184.2 million, and EPS rose 29% to $2.15, primarily due to improved credit performance. New sales grew by 7%, while adjusted net income decreased by 8% to $242.1 million. The company maintained its full-year revenue guidance of $2.6 to $2.7 billion and raised its adjusted EPS guidance to $12.42.
FLEETCOR Technologies (NYSE: FLT) has refinanced its securitization and Term B credit facilities, enhancing its liquidity position. On March 29, 2021, it secured a new three-year agreement with lower interest rates. A new seven-year $1.15 billion Term Loan B facility was closed on April 30, 2021, maintaining the interest rate. This upsizing provides approximately $2 billion in liquidity post-AFEX acquisition, enabling further acquisitions and share buybacks. CFO Charles Freund emphasized the strategic value of these refinancings for growth opportunities.
FLEETCOR Technologies, Inc. (NYSE: FLT) has scheduled a conference call for May 5, 2021, at 5:30 pm ET to discuss its first-quarter financial results. The call will feature CEO Ron Clarke, CFO Charles Freund, and Jim Eglseder from investor relations. A press release detailing the financial results will be released after market close on the same day. Investors can access the call via the company’s investor relations website or through a provided phone number. A replay will be available shortly after the call.
