Corpay Expands Its Global Reach with GPS Capital Markets Acquisition: Details – Corpay (NYSE:CPAY) – Journal Important Web

Corpay, Inc. CPAY unconcealed a expressed commendation to take GPS Capital Markets, LLC for an covert amount.

Headquartered in Salt Lake City, Utah, GPS Capital Markets offers cross-border and deposit direction solutions to upper-middle mart companies in the U.S.

Founded in 2002, GPS has individual offices throughout the U.S., as substantially as in Australia, Canada, the dweller Union and the United Kingdom. 

Post care closure, Corpay module impact cross-border payments for roughly 23,000 customers in more than 145 currencies crossways sextet continents.

Ron Clarke, chair and honcho chief officer, Corpay said, “GPS is our ordinal maximal care ever…GPS presents momentous income and cost synergies and module be accretive to our 2025 change EPS. This acquisition puts us substantially on our artefact to ordering our Corporate Payments playing to nearly $2 1000000000 by 2026.”

Brandon Parke, President and CEO of GPS Capital Markets, stated, “With Corpay’s resources and our team’s expertise, we are poised to wage modify greater continuance and intend transformative outcomes in the business markets. The compounded capabilities of our digit companies module significantly goodness our clients and our employees.”

The dealings is expected to near in primeval 2025, person to restrictive support and usual approaching conditions.

Outlook: Corpay expects its ordinal lodge 2024 results to correct the midpoint of the financial counselling primeval provided.

During the prototypal lodge results release, the consort expressed that it projects ordinal lodge revenues of $960 million-$980 meg (vs. consensus of $973.7 million) and keyed EPS of $4.45-$4.55 (vs. street analyse of $4.51).

As of March 31, 2024, Corpay’s change and equivalents stood at $3.2 billion.

The consort module inform its second-quarter results in primeval August.

Investors crapper acquire danger to CPAY via Amplify ETF Trust Amplify Mobile Payments ETF IPAY and T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF TMSL.

Price Action: CPAY shares winking higher by 0.14% at $252.45 on Tuesday.

Disclaimer: This noesis was part produced with the support of AI tools and was reviewed and publicised by Benzinga editors.

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