Corpay CPAY is scheduled to release its first-quarter 2024 results on May 8, after market close.
The company surpassed the Zacks Consensus Estimate in two of the four trailing quarters, missed in one and met in another instance. It delivered an earnings surprise of 0.64%, on average.
Corpay, Inc. Price and EPS Surprise
Corpay, Inc. price-eps-surprise | Corpay, Inc. Quote
Q1 Expectations
The Zacks Consensus Estimate for the top line is pegged at $936.3 million, indicating a 3.9% increase from the year-ago quarter’s actual. Revenues are likely to have benefited from growth across the corporate and vehicle payments segments.
The corporate payments segment is likely to have benefitted from increased sales of the full suite of high-quality payment solutions to customers who seek to modernize their AP operations. Strengthening across Brazil and international fuel markets is likely to have benefitted the vehicle payments segment’s growth, aided by company’s EV strategy in the U.K. The lodging business is likely to have declined due to the unexpected lack of travel during holidays and a decrease in the overall insurance business.
The consensus estimate for the bottom line is pegged at $4.1 per share, suggesting a 7.4% year-over-year rise. The bottom line is expected to have benefited from the decline in credit losses and increased margins across the Vehicle and Corporate Payments segments.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for VRSK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Corpay has an Earnings ESP of -0.25% and a Zacks Rank of 4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Snapshot
The Interpublic Group of Companies, Inc. IPG reported mixed first-quarter 2024 results.
IPG’s adjusted earnings (excluding 7 cents from non-recurring items) of 36 cents per share met the Zacks Consensus Estimate but decreased 5.3% on a year-over-year basis. Revenues before billable expenses (net revenues) of $2.2 billion surpassed the consensus estimate marginally but decreased 13.4% year over year. Total revenues of $2.5 billion declined 1% and met our estimate.
Republic Services, Inc. RSG reported mixed first-quarter 2024 results.
RSG’s earnings per share (excluding 1 cent from non-recurring items) of $1.5 beat the Zacks Consensus Estimate by 5.8% and increased 16.9% from the year-ago quarter. Revenues of $3.9 billion missed the consensus mark by a slight margin but increased 7.8% year over year.
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Interpublic Group of Companies, Inc. (The) (IPG) : Free Stock Analysis Report
Republic Services, Inc. (RSG) : Free Stock Analysis Report
Corpay, Inc. (CPAY) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
