Corpay's stock plummeted 9.95% in after-hours trading on Wednesday, with investors selling off shares following the payment technology company's disappointing outlook for fiscal 2025.
For the fourth quarter of 2024, Corpay reported adjusted earnings per share of $5.36, which was in line with analyst estimates. Revenue came in at $1.03 billion, narrowly missing the $1.05 billion consensus forecast. While earnings grew over 20% year-over-year, revenue was up a more modest 10.31%.
However, it was the guidance for the upcoming 2025 fiscal year that appeared to spook the market. Corpay projected full-year EPS of $20.75 to $21.25 on revenue between $4.35 billion and $4.45 billion. This fell short of analyst expectations for EPS of $21.95 on $4.45 billion in revenue, fanning concerns over slowing growth prospects.
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