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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 0.02%, on average.
The Zacks Consensus Estimate for revenues is pegged at $971.7 million, implying 2.5% growth from the year-ago quarter’s actual. The top line is likely to have been driven by the rise in corporate payments.
We expect revenues of $508.1 million from vehicle payments, suggesting a marginal decline from the year-ago quarter’s actual. It is likely to have been caused by the impacts in volumes in specific industry sectors, driven by the U.K.’s soft economy.
Our estimate for corporate payments is pegged at $265.4 million, increasing 7.9% on a year-over-year basis. The company’s direct business showed a strong underlying performance, with solid growth across spend volume transactions and customers, which is anticipated to have led to this segment’s growth. Also, higher revenues per transaction rates are anticipated to have contributed to this growth.
We estimate lodging revenues of $131 million, suggesting a 4.1% dip from the year-ago quarter’s actual. Softness in the smaller field services companies, which have been deploying fewer workers due to uncertainty in the macro-environment, is likely to have affected lodging revenues.
The consensus estimate for the bottom line is pegged at $4.5 per share, indicating a 7.6% rise on a year-over-year basis.The bottom line is expected to have benefited from margin expansion, driven by lower bad debt expenses and disciplined expense management.
What Our Model Says
Our proven model predicts an earnings beat for CPAY 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. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
CPAY has an Earnings ESP of +0.06 and a Zacks Rank #3.
Other Stocks That Warrant a Look
Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Affirm (AFRM - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $599.5 billion, indicating 34.5% growth from the year-ago quarter’s actual. The consensus mark for loss per share is pegged at 45 cents, whereas it reported 69 cents at the end of the year-ago quarter. The company has an average negative surprise of 22.9%.
AFRM currently has an Earnings ESP of +38.57% and a Zacks Rank of 2. The company is scheduled to post its second-quarter results on Aug 28.
Clear Channel Outdoor (CCO - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $563.8 million, indicating an 11.5% decline from the year-ago quarter’s actual. The consensus mark for loss per share is pegged at 4 cents, whereas it recorded a loss of 8 cents in the year-ago quarter. The company has an average negative surprise of 15.7%.
CCO currently has an Earnings ESP of +25.00% and a Zacks Rank of 2. The company is scheduled to declare its second-quarter results on Aug 7.
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Corpay (CPAY) Set to Report Q2 Earnings: What's in Store?
Corpay (CPAY - Free Report) is scheduled to release its second-quarter 2024 results on Aug 7, 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 0.02%, on average.
Corpay, Inc. Price and EPS Surprise
Corpay, Inc. price-eps-surprise | Corpay, Inc. Quote
Q2 Expectations
The Zacks Consensus Estimate for revenues is pegged at $971.7 million, implying 2.5% growth from the year-ago quarter’s actual. The top line is likely to have been driven by the rise in corporate payments.
We expect revenues of $508.1 million from vehicle payments, suggesting a marginal decline from the year-ago quarter’s actual. It is likely to have been caused by the impacts in volumes in specific industry sectors, driven by the U.K.’s soft economy.
Our estimate for corporate payments is pegged at $265.4 million, increasing 7.9% on a year-over-year basis. The company’s direct business showed a strong underlying performance, with solid growth across spend volume transactions and customers, which is anticipated to have led to this segment’s growth. Also, higher revenues per transaction rates are anticipated to have contributed to this growth.
We estimate lodging revenues of $131 million, suggesting a 4.1% dip from the year-ago quarter’s actual. Softness in the smaller field services companies, which have been deploying fewer workers due to uncertainty in the macro-environment, is likely to have affected lodging revenues.
The consensus estimate for the bottom line is pegged at $4.5 per share, indicating a 7.6% rise on a year-over-year basis.The bottom line is expected to have benefited from margin expansion, driven by lower bad debt expenses and disciplined expense management.
What Our Model Says
Our proven model predicts an earnings beat for CPAY 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. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
CPAY has an Earnings ESP of +0.06 and a Zacks Rank #3.
Other Stocks That Warrant a Look
Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Affirm (AFRM - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $599.5 billion, indicating 34.5% growth from the year-ago quarter’s actual. The consensus mark for loss per share is pegged at 45 cents, whereas it reported 69 cents at the end of the year-ago quarter. The company has an average negative surprise of 22.9%.
AFRM currently has an Earnings ESP of +38.57% and a Zacks Rank of 2. The company is scheduled to post its second-quarter results on Aug 28.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Clear Channel Outdoor (CCO - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $563.8 million, indicating an 11.5% decline from the year-ago quarter’s actual. The consensus mark for loss per share is pegged at 4 cents, whereas it recorded a loss of 8 cents in the year-ago quarter. The company has an average negative surprise of 15.7%.
CCO currently has an Earnings ESP of +25.00% and a Zacks Rank of 2. The company is scheduled to declare its second-quarter results on Aug 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.