Corpay — Feb 5, 2025 release

“Additionally, we expect to generate approximately $1.5 billion in free cash flow in 2025 that provides us meaningful fire power to execute our capital allocation plans.” For fiscal year 2025, Corpay, Inc.'s updated financial guidance 1 is as follows: • Total revenues between $4,350 million and $4,450 million; • Net income between $1,174 million and $1,224 million; • Net income per diluted share between $16.50 and $17.00; • Adjusted net income between $1,482 million and $1,532 million; and • Adjusted net income per diluted share between $20.75 and $21.25. Corpay’s guidance assumptions for the full year are as follows: • Weighted average U.S. fuel prices equal to $3.24 per gallon; • Fuel price spreads flat with the 2024 average; • Foreign exchange rates equal to the January 2025 forward consensus; • Interest expense between $350 million and $380 million; • Approximately 72 million fully diluted shares outstanding; • An effective tax rate of approximately 25.5% to 26.5%; and • No impact related to material acquisitions not closed. First Quarter of 2025 Outlook: “First quarter organic revenue growth is expected to be 8% to 10% and adjusted EPS is expected to grow 9% to 11%. O ur earnings growth outlook for the first quarter is adversely impacted approximately 7% compared to the prior year due to unfavorable movements in foreign exchange rates, fuel prices and tax rate. Revenue growth is expected to build over the remaining quarters as we execute our business plans and lap the higher foreign currency exchange rates from the first half of last y