05:14 PM EDT, 05/08/2024 (MT Newswires) -- Corpay ( CPAY ) reported Q1 adjusted earnings late Wednesday of $4.10 a diluted share, up from $3.80 a year earlier.

Analysts surveyed by Capital IQ expected $4.09.

Revenue in the quarter ended March 31 rose to $935.3 million from $901.3 million a year earlier.

Analysts surveyed by Capital IQ expected $938 million.

The company expects Q2 adjusted EPS of $4.45 to $4.55 on revenue of $960 million to $980 million. Analysts surveyed by Capital IQ expect adjusted EPS of $4.77 and revenue of $1.02 billion.

Corpay ( CPAY ) cut guidance for 2024 to adjusted EPS of $18.80 to $19.20 on revenue of $3.96 billion to $4.04 billion versus EPS of $19.20 to $19.60 on revenue of $4.04 billion to $4.12 billion. Analysts surveyed by Capital IQ expect EPS of $19.39 and revenue of $4.08 billion.

Separately, Corpay ( CPAY ) agreed to acquire Paymerang from Aldrich Capital Partners for an undisclosed amount. The deal is expected to close in Q2.