8-K
filed July 27, 2023, 7:59 PM ET
ticker WEX
CIK 0001309108
earnings
confidence high
sentiment positive
materiality 0.80
WEX Q2 revenue up 4% to record $621M; raises full-year guidance
WEX Inc.
2023-Q2 EPS reported
$3.76
revenue$1,233,300,000
- GAAP EPS $2.20 vs $0.76 YoY; adjusted EPS $3.63 vs $3.71, down 2%.
- Mobility payment transactions down 1%; Benefits SaaS accounts up 11%; Corporate Payments volume up 34%.
- Full-year 2023 revenue guidance raised to $2.50-2.52B; adjusted EPS raised to $14.15-14.35.
- Q3 2023 revenue expected $629-639M; adjusted EPS $3.65-3.75.
- Cash flow from operations $99.5M YTD; adjusted free cash flow $130.9M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WEX Inc. reported the full year 2023 results: revenue $2.50 billion to $2.52 billion, EPS $14.15 to $14.35 per diluted share. Guidance raised.
- Period
- the full year 2023
- Revenue
- $2.50 billion to $2.52 billion
- EPS
- $14.15 to $14.35 per diluted share
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
For the full year 2023, the Company now expects revenue in the range of $2.50 billion to $2.52 billion, up from the prior guidance range of $2.45 billion to $2.49 billion. Adjusted net income attributable to shareholders is now expected to be in the range of $14.15 to $14.35 per diluted share, an increase from the prior guidance range of $13.85 to $14.25 per diluted share.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
WEX Inc. reported the three months ended June 30, 2023 results: revenue $621.3 million, net income $95.3 million, EPS $2.20 per diluted share.
- Period
- the three months ended June 30, 2023
- Revenue
- $621.3 million
- Net income
- $95.3 million
- EPS
- $2.20 per diluted share
- Result
- reported results
Exact text from the filing
Total revenue for the second quarter of 2023 increased 4% to $621.3 million from $598.2 million for the second quarter of 2022. The revenue increase in the quarter includes a $53.0 million unfavorable impact from fuel prices and spreads and a $0.3 million favorable impact from foreign exchange rates. Net income attributable to shareholders on a GAAP basis increased by $61.2 million to a net income of $95.3 million, or $2.20 per diluted share, for the second quarter of 2023, up 191% compared with net income of $34.1 million, or $0.76 per diluted share, for the second quarter of 2022.
View on SEC.gov
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