Wex Inc Stock Price, News & Analysis

WEX reported mixed Q1 2025 financial results with revenue declining 2% year-over-year to $637 million, impacted by fuel prices and foreign exchange rates. Despite the revenue drop, GAAP net income increased to $71.5 million ($1.81 per diluted share), while adjusted net income reached $138.4 million ($3.51 per diluted share).

Key performance metrics showed varied results: total volume decreased 5% to $54.1 billion, mobility payment transactions dropped 2% to 134.5 million, while Benefits' SaaS accounts grew 6% to 21.5 million. The company made significant shareholder returns, spending $790 million on share repurchases, reducing share count by 13.1%.

Looking ahead, WEX updated its 2025 guidance, projecting full-year revenue between $2.57-2.63 billion and adjusted net income of $14.72-15.32 per diluted share. Q2 2025 revenue is expected at $640-660 million, with adjusted net income of $3.60-3.80 per diluted share.

WEX (NYSE: WEX) has launched WEX EV Depot, a new feature enabling secure charging payments at private chargers using the WEX Fleet Card. This addition makes WEX the first fleet management business in North America to offer comprehensive EV charging payments across depot, public, and at-home locations.

The solution includes an integrated reporting system, RFID tag-based payments, and an EV Depot Mapping tool for locating preferred charging stations. The platform works with WEX's existing network of nearly 150,000 public charging stations and integrates with DriverDash mobile payment app for touch-free activation.

According to a Frost & Sullivan report commissioned by WEX, 80% of mixed-energy fleet operators plan to have at least 25% EVs in their fleets by 2030. WEX EV Depot is available to WEX En Route customers for an additional subscription fee and integrates with Sawatch Labs insights for optimal depot charging deployment.

WEX (NYSE: WEX) has announced a 10-year extension of its partnership with Enterprise Fleet Management, continuing a relationship that began in 1993. The agreement ensures WEX will continue providing fuel cards to Enterprise Fleet Management customers to help monitor and control fuel-related expenses.

Enterprise Fleet Management, an affiliate of Enterprise Mobility, operates across more than 60 locations and manages over 900,000 vehicles for companies, government agencies, and organizations throughout the United States and Canada. The partnership highlights WEX's role in powering a significant portion of Enterprise Mobility's operations, including car rental, truck rental, and fleet management services.

WEX Inc. (NYSE: WEX) has announced it will release its first quarter 2025 financial results on Wednesday, April 30, 2025, after market close. The company will make available both the press release and supplemental materials packet, including a summary and discussion of Q1 performance, through their investor relations website.

A conference call is scheduled for Thursday, May 1, 2025, at 10:00 AM ET, hosted by Chair, CEO, and President Melissa Smith along with CFO Jagtar Narula. Investors can access the call via webcast through WEX's website or by dialing in. A replay will be available until May 8, 2025.

WEX Inc (NYSE: WEX) has completed its modified 'Dutch auction' tender offer, successfully purchasing 4,870,130 shares at $154.00 per share. The tender offer, which expired on March 25, 2025, resulted in a total purchase of approximately $750 million worth of shares, representing about 12.5% of WEX's outstanding shares.

The final count showed that 4,891,736 shares were validly tendered, leading to a proration factor of approximately 99.55% due to oversubscription. The company accepted all valid 'odd lot' tenders in full, while conditional tenders that didn't meet conditions were automatically withdrawn. The depositary, Equiniti Trust Company, , will process payments for accepted shares and return unaccepted tendered shares.

WEX (NYSE: WEX) announces its premier health and benefits industry event, WEX SPARK Health & Benefits 2025, taking place in San Diego from March 31 to April 3. The event returns with a dedicated healthcare agenda for the first time in three years, bringing together business decision makers and industry leaders.

The conference will focus on key areas including:

• AI-driven insights for smarter benefits decisions and healthcare spending
• Simplifying FSA, HRA, and HSA reimbursement processes
• Enhanced fraud detection and compliance
• Policy implications for health and benefits markets

The event features the new WEX Innovation Experience, allowing professionals to interact with Product and Technology teams, and includes the WEX Community Awards recognizing partner achievements. Major sponsors include Mastercard, Visa, and FSA Store/HSA Store.

WEX Inc. (NYSE: WEX) has announced preliminary results of its modified 'Dutch auction' tender offer that expired on March 25, 2025. Based on preliminary counts, approximately 4,877,214 shares were validly tendered at or below the purchase price of $154.00 per share, including 1,547,927 shares tendered through guaranteed delivery.

The company expects to accept 4,870,130 shares for payment, representing about 12.5% of outstanding shares as of February 24, 2025. The total aggregate cost will be approximately $750 million, excluding fees and expenses. The preliminary proration factor is approximately 99.85%, with odd lots being accepted in full. Final numbers and payments will be announced after the guaranteed delivery period expires.

WEX (NYSE: WEX) has announced a multi-year extension of its partnership with Circle K, building upon their 15-year collaboration. The agreement focuses on expanding business fuel card programs and developing customized fleet management software.

Circle K has joined as an accepting merchant of 10-4 by WEX, a free mobile app providing fuel discounts to independent truckers and small trucking companies. The app is accepted at over 60% of Circle K's 475 locations offering high-flow diesel services. Additionally, Circle K participates in WEX EDGE, a premium diesel fuel discount network with over 4,000 locations nationwide.

The partnership spans multiple WEX business lines, including North America Mobility, Over-the-Road, and Professional Services. WEX currently processes approximately $231 billion in total volume and serves about 600,000 commercial fleet customers globally, managing roughly 19.8 million commercial vehicles as of 2024.

WEX (NYSE: WEX) and Reclaim Health have announced a strategic integration combining their healthcare financial management capabilities. The partnership integrates Reclaim's AI-powered claims-driven platform with WEX's benefits administration technology through BeneFITwise Premier feature.

The integration aims to help employees make informed benefit decisions and achieve cost savings while assisting employers in managing healthcare expenses. Key features include:

• Enhanced claims analysis and insights
• Proactive cost-saving recommendations
• Streamlined benefits selection and administration
• Personalized benefit support year-round

The collaboration focuses on addressing healthcare system navigation challenges through AI-powered data analytics and WEX's benefit administration expertise.