earnings
confidence high
sentiment neutral
materiality 0.75
WEX Q1 revenue down 2% to $637M; GAAP EPS rises to $1.81, adj EPS $3.51; guides FY rev $2.57-2.63B
WEX Inc.
2025-Q1 EPS reported
$1.81
revenue$636,600,000
- Revenue $636.6M (-2% YoY) driven by lower fuel prices and FX; GAAP net income $71.5M, $1.81 diluted EPS (vs $1.55).
- Adjusted net income $138.4M, $3.51 diluted EPS (+1% YoY); adjusted operating margin 36.7% (down from 38.5%).
- Corporate Payments purchase volume dropped 28% to $17.3B; Benefits SaaS accounts grew 6% to 21.5M; HSA assets up 9.5%.
- Repurchased $790M of stock in Q1 (~5.1M shares), reducing share count 13.1% through tender offer.
- Q2 guidance: rev $640-660M, adj EPS $3.60-3.80; FY guide updated to rev $2.57-2.63B, adj EPS $14.72-15.32.