Corpay, Inc. (CPAY) SEC Filings & Earnings Calls

Legal settlement costs

“Legal settlements and litigation costs $100.9M in Q2 2026 vs $0.3M YoY.”

Integration and deal costs

“Integration and deal related costs $38.1M in Q2 2026 vs $14.5M YoY.”

Foreign exchange volatility

“Other comprehensive loss from derivative instruments $48.4M net of tax in H1 2026 vs gain $144.4M in H1 2025.”

FTC settlement charge of $100M impacts GAAP net income; regulatory risk remains

“recorded a $100 million charge for a preliminary settlement with the FTC's Bureau of Consumer Protection for a previously disclosed matter, that is subject to their customary approval process” · word for word

Fuel price and FX assumptions underpin guidance; sensitivity to macro variables

“Guidance assumptions include fuel prices, FX rates, and interest expense based on forward curves”

Increased leverage from additional debt of $2.05B Term Loan B-6, though partially offset by repayment of Term Loan B-5

“increases the Term Loan B-6 by $2.05 billion for a total Term Loan B-6 of $2.95 billion. The Company repaid its Term Loan B-5 in full using $1.0 billion of the Term Loan A and Revolver proceeds and $2.05 billion of the Term Loan B-6 proceeds.” · word for word

FTC Litigation Uncertainty

“On January 6, 2026, the Eleventh Circuit affirmed the judgment against the Company... The Company continues to believe that the FTC’s claims are without merit and these matters are not and will not be material to the Company's financial performance.” · word for word

Foreign Exchange Exposure

“The aggregate equivalent U.S. dollar notional amount of foreign exchange derivative customer contracts held by the Company was $148.2 billion and $123.9 billion as of March 31, 2026 and December 31, 2025, respectively.” · word for word

Fuel price sensitivity and macroeconomic uncertainty.

“Guidance assumes U.S. fuel prices of $4.17/gallon based on EIA outlook; fuel price spreads flat with 2025 average.”

Stock price volatility

“While we have seen volatility in our stock price over the last 12 months” · word for word

Say-on-Pay low approval

“Our say-on-pay proposal at our 2025 annual meeting received approximately 54% approval.” · word for word

Goodwill impairment risk

“the Company recognized a goodwill impairment loss of $90 million within goodwill impairment in the Consolidated Statements of Income during the year ended December 31, 2024.” · word for word

Macroeconomic sensitivity

“the impact of macroeconomic conditions, including any recession or economic downturn that has occurred or may occur in the future, and whether expected trends, including fluctuations in retail fuel prices and fuel price spreads, fuel transaction patterns, electric vehicle adoption, retail lodging prices, foreign exchange rates and interest rates develop as a” · word for word

Regulatory and compliance risk

“the regulation, supervision and examination of our business by foreign and domestic governmental authorities, as well as litigation and regulatory actions, including the lawsuit filed by the Federal Trade Commission (FTC)” · word for word

Float revenue compression due to lower interest rates

“Corporate payments segment organic revenue growth inclusive of a 200 basis point headwind from float revenue compression due to lower interest rates.”

Execution risk on sale of PayByPhone

“Definitive agreement to sell PayByPhone subject to closing conditions.”

FTC litigation risk

“The FTC filed a lawsuit in the Northern District of Georgia against the Company and Ron Clarke. See FTC v. FleetCor and Ronald F. Clarke, No. 19-cv-05727 (N.D. Ga.). The complaint alleges the Company and Clarke violated the FTC Act’s prohibitions on unfair and deceptive acts and practices.” · word for word

Fuel price spread sensitivity

“Revenues reflect the positive impact of movements in foreign exchange rates of approximately $13 million, partially offset by the negative impact of fuel price spreads of approximately $7 million and approximately $3 million negative impact from fuel prices.” · word for word

Integration risk from Alpha acquisition

“The Company used the Term Loan B and revolving credit facility proceeds to fund the Alpha acquisition.” · word for word

Increased leverage from acquisition financing; integration risk of Alpha Group.

“Proceeds will initially be used to fund the Alpha acquisition; new Term Loan B of $900 million.” · word for word