Corpay raises its 2026 outlook as third-quarter profit beats forecasts and sales do not

The payments company guides to fourth-quarter revenue of about $1.37bn and adjusted earnings of $7.65 a share at the midpoint.

Corpay raised its 2026 outlook to revenue of $5.35bn and adjusted net income per diluted share of $28.00 at the midpoint, up from prior expectations. The move follows a third quarter in which profit beat forecasts and sales did not.

Earnings per share were $7.54, $0.19 better than expected. Revenue of $1.38bn fell short of the $1.39bn expected, so the beat rests on profit. Ron Clarke, chairman and chief executive, called the results "excellent", with revenue growth of 18% and adjusted net income per diluted share growth of 32%, both ahead of the company's expectations.

The fourth-quarter guidance points the same way. Corpay expects revenue of about $1.37bn, a touch below the third quarter, and adjusted net income per diluted share of $7.65 at the midpoint, above the $7.54 just reported. That looks like earnings carrying the outlook rather than sales growth. The higher full-year midpoint also resets the base for estimate revisions.

Corpay has also returned capital to shareholders, repurchasing 5.25 million shares for $1.85bn so far in 2026, including 1.9 million shares for $747m in the third quarter.