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., 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.
TA Connections, a FLEETCOR company, has partnered with easyJet to enhance its distressed passenger re-ticketing service. This new smart ticketing technology allows easyJet to quickly re-book passengers affected by travel disruptions through an automated system, providing visibility into available flights across multiple channels including GDS and NDC. Mike Appleton, president of TA Connections, stated that this technology reduces the impact of travel disruptions, improves operational efficiency, and enhances customer loyalty. The initiative complements TA Connections' existing offerings, ensuring a streamlined and effective travel management experience.
FLEETCOR Technologies, Inc. (FLT) reported strong financial results for Q4 and the full year 2022, achieving all-time record revenues. Revenues surged by 21% to $3.43 billion for the year, while Q4 revenues grew by 10% to $883.6 million. Net income for 2022 rose 14% to $954.3 million, with diluted earnings per share increasing 24% to $12.42. The company projects 2023 organic revenue growth of 9% to 11% and total revenues between $3.8 billion and $3.85 billion. Factors influencing guidance include higher interest expenses and seasonal revenue fluctuations in Q1. FLEETCOR also implemented interest rate swaps to manage debt risks.
FLEETCOR Technologies (NYSE: FLT) has acquired Mina, a cloud-based electric vehicle (EV) charging software platform, enhancing its market position in the UK. This acquisition allows FLEETCOR to offer the only at-home charging solution that simplifies reimbursement processes for commercial fleets transitioning to EVs. Mina's software integrates with UK EV charging hardware and energy providers, streamlining the charging payment process. The deal follows a successful partnership and provides a comprehensive 3-in-1 solution that combines at-home, on-the-road, and internal combustion engine refueling options for clients.
FLEETCOR Technologies (NYSE: FLT) has appointed Annabelle Bexiga to its Board of Directors, while Mark Johnson has retired after 19 years of service. Bexiga, who has held significant leadership roles in technology at firms like AIG and JP Morgan, is expected to enhance the company’s technology transformation efforts. Lead independent director Steven Stull expressed enthusiasm about Bexiga's immediate contributions. CEO Ron Clarke noted the impact of Johnson's long-term tenure, highlighting his valuable advisory role.
These changes are effective immediately and signal FLEETCOR's commitment to advancing its technological capabilities.
FLEETCOR Technologies (NYSE: FLT) will host a conference call on February 8, 2023, at 5:00 pm ET, to discuss its fourth quarter and fiscal year financial results. Ron Clarke (CEO), Alissa Vickery (interim CFO), and Jim Eglseder (Investor Relations) will lead the call. The corresponding press release with financial results will be issued after market close on the same day. Investors can access the live webcast on the company's investor relations website or dial in via phone. A replay will be available after the call until February 15, 2023.
FLEETCOR is a global business payments company, operating in over 100 countries.
FLEETCOR Technologies, Inc. (NYSE: FLT) has completed the acquisition of Global Reach Group, a UK-based cross-border payments provider. This move enhances FLEETCOR's scale in cross-border payments, strengthening its position as a leading non-bank B2B provider. The acquisition is expected to be immediately accretive in 2023, supporting the company's growth in this segment. FLEETCOR currently processes payments in over 145 currencies for around 27,000 customers globally, and this acquisition aims to expand its footprint in key markets including the UK, EU, and Canada.
Guidewire (NYSE: GWRE) and ALE Solutions, a Fleetcor (NYSE: FLT) company, have announced ALE's integration as a Solution partner in the Guidewire PartnerConnect program. This collaboration will allow efficient data transfer between ALE’s temporary housing services for displaced policyholders and Guidewire’s ClaimCenter users. The partnership aims to enhance the claims process for insurers and policyholders by saving time and improving service delivery. With over 175 solution partners, Guidewire's ecosystem supports innovative solutions for the P&C insurance industry.
Corpay, a brand under FLEETCOR (NYSE: FLT), has secured a partnership with World Table Tennis to provide Global FX Payments Solutions in 2023. This collaboration will offer Corpay's cross-border payments services to World Table Tennis, facilitating efficient transaction handling for over $6M in prize money and more than 3,000 transactions across 80 territories in 2022. The partnership aims to mitigate foreign exchange risks and streamline payment processes for athletes and partners, supporting World Table Tennis's growth and enhancing their financial operations.
Corpay, a FLEETCOR brand, has partnered with the World Baseball Softball Confederation (WBSC) to serve as its official Global FX Payments Provider. This collaboration aims to provide WBSC and its global members with access to advanced foreign exchange and payment solutions, aiding in mitigating currency risk. Corpay's platform will enable efficient management of international transactions for the WBSC's extensive corporate partners. The partnership emphasizes improving financial stability amid growing currency volatility.
FLEETCOR Technologies, Inc. (NYSE: FLT) will participate in two upcoming investor conferences. The first is on November 14, 2022, at Citi's 2022 FinTech Conference, starting at 11:15 AM ET. The second fireside chat will occur on November 30, 2022, at Credit Suisse's 26th Annual Technology Conference, beginning at 10:15 AM ET. Interested parties can access these discussions via the company's investor relations website. FLEETCOR specializes in innovative payment solutions for businesses globally.
FAQ
What is the market cap of Corpay (FLT)?
What services does Corpay offer?
How does Corpay help businesses manage expenses?
What recent partnership has Corpay entered into?
Where is Corpay headquartered?
What is Corpay's standing in the commercial card market?
How many commercial accounts does Corpay serve?
What are the core principles driving Corpay's success?
How has Corpay grown over the last decade?
What kind of payment solutions does Corpay specialize in?
How does Corpay ensure payment security and compliance?
