WEX Q3 revenue $665M (+2%), GAAP EPS $2.52, adj. EPS $4.35; lowers FY outlook

WEX Inc.

2024-Q3 EPS reported $5.89 revenue$1,991,600,000

Revenue $665.5M, +2% YoY; GAAP net income $102.9M ($2.52/diluted) vs $18.4M ($0.42) prior year.
Adjusted net income $177.5M ($4.35/diluted), +7% per diluted share from $176.8M ($4.05) prior year.
Mobility segment challenged by macro trends; total volume $62.3B (+1%); Corporate Payments volume down 16% to $23.4B.
Q4 guidance: revenue $630-640M, adjusted EPS $3.51-3.61; full year revenue cut to $2.62-2.63B.
Spent $370M on share repurchases in Q3; Board increased buyback authorization by $1B.

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