WEX Q2 revenue +30% to $598M, adjusted EPS $3.71 +61% YoY; raises FY2022 guidance

WEX Inc.

2022-Q2 EPS reported $3.47 revenue$1,115,772,000

Q2 revenue $598.2M (+30% YoY); GAAP net income $34.1M ($0.76/sh) vs net loss $33.9M (-$0.76/sh) in prior year.
Adjusted net income $169.4M ($3.71/diluted), up 61% YoY from $2.31; adjusted operating margin 42.3% vs 36.3%.
Total volume $56.6B (+60%); purchase volume $37B (+77%); Fleet transactions +10% to 143.2M; Travel/Corp purchase volume $17.1B (+96%).
Raised FY2022 guidance: revenue $2.250B-$2.280B (up from $2.155B-$2.195B); adjusted EPS $13.05-$13.30 (up from $12.40-$12.80).
Repurchased 520K shares for ~$81M in Q2.

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