Corpay (CPAY) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter declined marginally from the immediately preceding period, but remained above the level reported for the same quarter one year earlier. The sequential decrease continued a pattern of modest slippage after two prior quarters of growth.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter declined marginally from the immediately preceding period, but remained above the level reported for the same quarter one year earlier. The sequential decrease continued a pattern of modest slippage after two prior quarters of growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$935.3M
Revenue reported for this quarter.
Quarter-over-quarter
-0.2%
Change from the immediately preceding quarter.
Year-over-year
+3.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $948.2M | +10.1% |
| Sep 30, 2023 | $970.9M | +8.7% |
| Dec 31, 2023 | $937.3M | +6.1% |
| Mar 31, 2024 | $935.3M | +3.8% |
Revenue performance
Revenue has softened in the most recent two quarters, following a period of sequential gains. The current quarter’s figure is slightly below the prior quarter and well below the peak reached two quarters ago.
Quarterly comparison
Compared with the prior quarter, revenue was lower by a fractional amount. Year-over-year, revenue showed an increase, reflecting a longer-term upward trend despite the recent quarterly dip.
What to watch
The filing context notes that fuel price volatility directly affects a portion of revenue, which could influence future performance.