secwatch.observer — SEC 8-K summary
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Issuer:     WEX Inc. (WEX)
CIK:        0001309108
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001309108-24-000198
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1309108/000130910824000198/0001309108-24-000198-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1309108/000130910824000198/wex-20241024.htm
  HTML page:      https://secwatch.observer/filing/0001309108-24-000198

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