Welcome to our dedicated page for Wex news (Ticker: WEX), a resource for investors and traders seeking the latest updates and insights on Wex stock.
WEX Inc. (NYSE: WEX) is described as a global commerce platform that simplifies the business of running a business, with specialized expertise in benefits, mobility, and corporate payments. The WEX news feed on Stock Titan highlights company announcements, financial updates, board and leadership changes, and partnership developments that shape how the business operates.
Readers can find coverage of WEX’s earnings releases and segment performance, where the company reports results for its Mobility, Benefits, and Corporate Payments segments. These updates include commentary from management on strategic priorities such as amplifying the core business, expanding reach, and accelerating innovation, as well as discussions of factors like fuel prices, foreign exchange, and macroeconomic conditions that influence results.
The news stream also features governance and leadership items, including WEX’s multi-year board refreshment plan, director appointments, and planned director retirements. Announcements about roles such as the Vice Chair and Lead Independent Director, along with executive appointments like the Chief People Officer, provide insight into how WEX structures oversight and human capital leadership.
In addition, WEX regularly reports on collaborations and integrations that demonstrate how its platform is used in practice. Examples in recent releases include integration of the Tesla Supercharger network into the EV Driver by WEX app, a collaboration with NCR Voyix to enable WEX fleet card transactions at cloud-native point-of-sale systems, and a relationship with Trucker Path to extend fuel discounts from the 10-4 by WEX app to truck drivers.
Investors and observers can use this news page to follow WEX’s financial disclosures, strategic partnerships, technology-related initiatives in mobility and payments, and board-level decisions, all of which are based on the company’s own public statements and regulatory filings.
WEX has appointed Jay Dearborn as its new Chief Strategy Officer, a role aimed at enhancing operational planning and M&A activities. This strategic move is part of WEX's commitment to streamline operations and accelerate growth, as discussed during their March Investor Day. Dearborn has extensive experience, having previously led WEX's Corporate Payments business since 2017 and worked at McKinsey & Company. His new responsibilities will include managing strategic initiatives and external communications.
WEX plans to acquire the Exxon Mobil Business Card program, consolidating it into WEX's commercial card offerings. This acquisition will enhance customer experience by offering streamlined expense management, benefits, and savings. The Exxon Mobil BusinessPro program allows small businesses to access fuel discounts of up to 6 cents per gallon and earn rewards through the Exxon Mobil Rewards+ program. Completion of the acquisition is subject to closing conditions.
WEX reported a record second-quarter revenue of $598 million, up 30% year-over-year, driven by a 77% increase in total purchase volume to $37 billion. The company achieved a GAAP net income of $0.76 per diluted share, compared to a loss last year, while adjusted net income surged 61% to $3.71 per share. Operating margins improved, with GAAP at 28.6% and adjusted at 42.3%. WEX raised its full-year revenue guidance to $2.250 billion to $2.280 billion, reflecting strong operational momentum and planned investments in technology and product innovation.
WEX (NYSE: WEX) has released its second annual ESG report, showcasing its commitment to environmental, social, and governance initiatives across 17 countries. The report focuses on four pillars: People and Culture, Environmental Innovation, Environmental Stewardship, and Social Impact. Key highlights include the establishment of diversity goals for leadership roles and the development of an extensive EV charging network. WEX also emphasizes mental health support for employees and has made significant reductions in data center energy usage, achieving a 58% decrease since 2019.
WEX Inc. (NYSE: WEX) will report its second quarter 2022 financial results before the market opens on
WEX Inc. (NYSE: WEX) has announced that its Chair and CEO, Melissa Smith, will present at the 42nd Annual William Blair Growth Stock Conference on June 8, 2022, at approximately 12:00 PM CT. A live webcast of the presentation will be available on WEX's Investor Relations website, with a replay accessible for 90 days afterward. WEX is a global commerce platform focused on simplifying business operations through personalized solutions and rich data capabilities.
WEX (NYSE: WEX) has announced a new partnership with AutoZone (NYSE: AZO) that enables eligible WEX customers to buy automotive parts for Class 1–5 vehicles at national account pricing through the WEX EDGE savings network. This collaboration aims to reduce costs for businesses reliant on vehicle operation. The WEX EDGE platform already offers savings on fuel, tires, and hotel accommodations, and this addition aims to provide further discounts on auto parts purchases.
WEX Inc. (NYSE: WEX), a global commerce platform, announced that its CEO, Melissa Smith, will present at the Barclays Emerging Payments and FinTech Forum on May 16, 2022, at around 8:40 AM ET. The presentation will be available live via webcast on the company's Investor Relations page, with a replay accessible for one year. WEX aims to simplify business operations through embedded solutions and rich data, helping companies navigate complexities and achieve their goals.
WEX reported a robust 26% year-over-year revenue growth reaching a record $518 million in Q1 2022. The GAAP net income per diluted share surged to $2.71, compared to a net loss of $0.06 in Q1 2021. Adjusted net income rose 61% to $2.88 per diluted share. Total purchase volume soared 66% to $28 billion. Citing strong performance, WEX raised its full-year guidance for 2022, with revenue expected between $2.155 billion and $2.195 billion.
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