ATLANTA (AP) — ATLANTA (AP) — Corpay, Inc. (CPAY) on Thursday reported first-quarter net income of $350.1 million.
On a per-share basis, the Atlanta-based company said it had net income of $5.07. Earnings, adjusted for one-time gains and costs, came to $5.80 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $5.50 per share.
The provider of fuel card and payment products for businesses posted revenue of $1.26 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.21 billion.
For the current quarter ending in June, Corpay expects its per-share earnings to range from $6.45 to $6.65.
The company said it expects revenue in the range of $1.3 billion for the fiscal second quarter.
Corpay expects full-year earnings in the range of $26.30 to $27.10 per share, with revenue ranging from $5.25 billion to $5.33 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPAY at https://www.zacks.com/ap/CPAY