Core Viewpoint - WEX Inc. reported disappointing third-quarter 2024 results, with earnings and revenues falling short of Zacks Consensus Estimates, leading to a decline in stock price and lowered guidance for future quarters [1][2]. Financial Performance - For Q4 2024, WEX revised its revenue guidance down to $630-$640 million from the previous $688-$698 million, with the midpoint of $635 million slightly above the Zacks Consensus Estimate of $633.8 million [2]. - The adjusted diluted earnings per share (EPS) guidance was lowered to $3.51-$3.61 from $4.42-$4.52, which is below the consensus estimate of $3.66 per share [3]. - For the full year 2024, revenue guidance was also reduced to $2.62-$2.63 billion from $2.68-$2.72 billion, again below the Zacks Consensus Estimate of $2.64 billion [3]. Quarterly Results - WEX's adjusted diluted EPS for the quarter was reported at $4.4, missing the Zacks Consensus Estimate by 1.6%, but showing a year-over-year increase of 7.4% [4]. - Revenues for the quarter were $665.5 million, which missed the consensus estimate by 3.3%, but increased by 2.2% compared to the same quarter last year [4]. Segment Performance - The Mobility segment's revenues grew by 2% year-over-year to $357.2 million, exceeding estimates, driven by investments in digital marketing [6]. - The Corporate Payments segment reported revenues of $126.9 million, down 6.1% from the previous year and missing estimates [6]. - The Benefits segment saw a 9.3% year-over-year revenue increase to $181.5 million, although it also fell short of projections [7]. Operating Results - Adjusted operating income rose 12.3% to $196.4 million year-over-year, but missed estimates significantly [8]. - The adjusted operating income margin improved to 47.6%, which was above projections [8]. Balance Sheet and Cash Flow - At the end of Q3 2024, WEX had cash and cash equivalents of $682.6 million, a significant increase from $7 million in the previous quarter [9]. - Long-term debt decreased to $3 billion from $3.1 billion [9]. - The company reported a cash utilization of $7 million from operating activities and an adjusted free cash flow utilization of $161.1 million [9]. Stock Performance - WEX's stock has declined by 18.1% over the past six months, contrasting with a 14.4% rise in its industry and a 15.4% increase in the Zacks S&P 500 Composite [5].

Gas prices unexpectedly came down, and that's hurting revenue.Shares of financial technology (fintech) company Wex (WEX -14.98%) plunged on Thursday after reporting financial results for the third quarter of 2024 that fell well below management's prior guidance. As of 3:10 p.m. ET, Wex stock was down 14%.Lower fuel prices hit WexWex is an enterprise fintech company specializing in fuel cards, corporate travel, and benefits-management software. In Q3, the company generated revenue of $665 million, which was ...

WEX Inc. (NYSE:WEX) Q3 2024 Earnings Conference Call October 24, 2024 10:00 AM ET Company Participants Steve Elder – Senior Vice President-Investor Relations Melissa Smith – Chief Executive Officer and President Jagtar Narula – Chief Financial Officer Conference Call Participants David Koning – Baird Nik Cremo – UBS Andrew Bauch – Wells Fargo Dan Dolev – Mizuho Mihir Bhatia – Bank of America Sanjay Sakhrani – KBW Nate Svensson – Deutsche Bank Ramsey El-Assal – Barclays Andrew Jeffrey – William Blair Operato ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value WEX New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fro ...

The contemporary operating landscape is increasingly defined by both resilience and vulnerability.These two themes were central to WEX Inc.’s third-quarter 2024 earnings call on Thursday (Oct. 24). The company, which provides payment processing, fleet management and benefits solutions, told investors it continues to navigate a complex macroeconomic environment that affected its performance in key segments.However, executives remain committed to WEX’s long-term growth strategy, driven by investments in artif ...

Wex (WEX) reported $665.5 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.2%. EPS of $4.35 for the same period compares to $4.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $688.5 million, representing a surprise of -3.34%. The company delivered an EPS surprise of -1.58%, with the consensus EPS estimate being $4.42.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

llex TM Q3 2024 Earnings October 24, 2024 00000000000000 .. . . Forward-Looking Statements 2 These materials include forward-looking statements including, but not limited to, statements about management's plans, goals, expectations, and guidance and assumptions with respect to future financial performance of the Company. Any statements in this presentation that are not statements of historical facts are forward-looking statements. When used in this presentation, the words "anticipate," "believe," "continue, ...

Wex (WEX) came out with quarterly earnings of $4.35 per share, missing the Zacks Consensus Estimate of $4.42 per share. This compares to earnings of $4.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.58%. A quarter ago, it was expected that this provider of fuel payment processing for fleet vehicles would post earnings of $3.80 per share when it actually produced earnings of $3.91, delivering a surprise of 2.89%.Over the ...

Exhibit 99.1 WEX Inc. Reports Third Quarter 2024 Financial Results Q3 revenue increased 2% year-over-year to a third quarter record $665 million, driven by 9% growth in the Benefits segment and continued progression in Mobility segment growth rate Q3 GAAP net income was $2.52 per diluted share; Q3 adjusted net income was $4.35 per diluted share Q3 GAAP operating income margin of 29.5% and adjusted operating income margin of 44.0% $370 million spent on share repurchases in Q3, including a $300 million accele ...

The upcoming report from Wex (WEX) is expected to reveal quarterly earnings of $4.43 per share, indicating an increase of 9.4% compared to the year-ago period. Analysts forecast revenues of $690.17 million, representing an increase of 6% year over year.Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...