8-KEarnings & ResultsOther EventsExhibits & Filings

CORPAY, INC. 8-K Report, Financial Results (Nov 1, 2017)

Filed November 1, 2017For Securities:CPAY

Summary

Corpay, Inc. (formerly FleetCor Technologies, Inc.) announced its financial results for the three and nine months ended September 30, 2017, via a press release on November 1, 2017. While the filing itself doesn't contain the detailed financial numbers, it refers to an attached press release (Exhibit 99.1) for these specifics. Investors should refer to this press release for performance metrics, revenue, earnings, and other operational details for the period. In addition to the financial results, the Company also announced a significant increase to its share repurchase program. The Board of Directors authorized an additional $350 million to the existing program, bringing the total potential repurchase amount to approximately $510 million of common stock, available until February 1, 2019. This signals management's confidence in the company's value and its commitment to returning capital to shareholders.

Key Highlights

  • 1Corpay, Inc. (CPAY) filed an 8-K on November 1, 2017, reporting financial results for the third quarter and the first nine months of 2017.
  • 2The financial results were detailed in a press release filed as Exhibit 99.1 to the 8-K.
  • 3The Company announced a $350 million increase to its share repurchase program.
  • 4Following the increase, the total authorized share repurchase amount is approximately $510 million.
  • 5The expanded share repurchase program is authorized to continue until February 1, 2019.
  • 6This filing indicates management's intent to enhance shareholder value through stock buybacks.

Frequently Asked Questions

The detailed financial results are available in the press release furnished by Corpay, Inc. on November 1, 2017, which is included as Exhibit 99.1 to this 8-K filing.

With the recent $350 million increase and accounting for previous repurchases totaling $590 million, the Company may repurchase up to approximately $510 million of its common stock.

The authorization for the share repurchase program, including the newly added amount, extends until February 1, 2019.

No, the information in Item 2.02, including Exhibit 99.1, is being furnished and not filed with the SEC. Therefore, it will not be automatically incorporated into any future registration statements unless specifically identified.