---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000629"
form_type: "8-K"
ticker: "WEX"
cik: "0001309108"
company_name: "WEX Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:29:34.275638+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# WEX Q1 revenue record $612M (+18% YoY), adj EPS $3.31 (+15%), raises full-year guidance

## Summary
- GAAP net income $68.0M ($1.56 diluted), down 42% YoY; adjusted net income $145.8M ($3.31 diluted), up 15%.
- Total volume $52.3B (+17%); Corporate Payments purchase volume jumped 58% to $18.6B.
- Full-year 2023 revenue guidance raised to $2.45-2.49B; adjusted EPS guidance raised to $13.85-14.25.
- Q2 2023 revenue guidance $613-623M, adjusted EPS $3.45-3.55.
- Repurchased ~525,000 shares for ~$93M in Q1; adjusted free cash flow negative $61.4M seasonally.

## SEC filing metadata
- accession: 0001157523-23-000629
- form_type: 8-K
- ticker: WEX
- cik: 0001309108
- company_name: WEX Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1309108/000115752323000629/0001157523-23-000629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1309108/000115752323000629/a53387559.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000629
- JSON: https://secwatch.observer/filing/0001157523-23-000629.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000629.txt

## Key facts
- Earnings Releases
  WEX Inc. reported the three months ended March 31, 2023 results: revenue $612.0 million, net income $68.0 million, EPS $1.56 per diluted share. Guidance raised.
  - Period: the three months ended March 31, 2023
  - Revenue: $612.0 million
  - Net income: $68.0 million
  - EPS: $1.56 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: WEX Inc. Reports First Quarter 2023 Financial Results 1Q revenue increased 18% year-over-year to a first quarter record $612 million 1Q GAAP net income was $1.56 per diluted share, down 42% year-over-year; 1Q adjusted net income attributable to shareholders increased 15% year-over-year to $3.31 per diluted share 1Q GAAP operating income margin of 25.2% and adjusted operating income margin of 37.6% Total volume increased 17% year-over-year to $52.3 billion Raises full-year 2023 financial guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1309108/000115752323000629/0001157523-23-000629-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.