WEX reports record Q3 revenue of $651M, raises FY 2023 guidance, and agrees to acquire Payzer

WEX Inc.

2023-Q3 EPS reported $4.18 revenue$1,884,700,000

Q3 revenue $651.4M (+6% YoY); GAAP EPS $0.42; adjusted EPS $4.05 (+15% YoY).
Benefits segment revenue grew 34% YoY; Corporate Payments +19% YoY; Mobility volume $61.9B (+7.6% YoY).
Full-year 2023 guidance raised: revenue now $2.53-2.54B, adjusted EPS $14.64-14.74 (prior $2.50-2.52B, $14.15-14.35).
Signed definitive agreement to acquire Payzer, a cloud-based field service management software provider; no deal value disclosed.
Q3 adjusted operating margin 41.8% vs 39.1% a year ago; GAAP operating margin 26.8% vs 3.5%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WEX Inc. reported the three months ended September 30, 2023 results: revenue $651.4 million, net income $18.4 million, EPS $0.42 per diluted share. Guidance raised.

Period: the three months ended September 30, 2023
Revenue: $651.4 million
Net income: $18.4 million
EPS: $0.42 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Total revenue for the third quarter of 2023 increased 6% to $651.4 million from $616.1 million for the third quarter of 2022.

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Source: SEC EDGAR

accession 0001157523-23-001553

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