Wex Inc Stock Price, News & Analysis

WEX reported a record revenue of $612 million for 1Q 2023, up 18% year-over-year, although GAAP net income fell 42% to $1.56 per diluted share. Adjusted net income attributable to shareholders rose 15% to $3.31. The operating income margin improved to 25.2% GAAP and 37.6% adjusted. Total transaction volume increased 17% to $52.3 billion, with significant growth in Corporate Payments (up 58% to $18.6 billion). WEX repurchased approximately 525,000 shares for $93 million. The company raised its full-year revenue guidance to between $2.45 billion and $2.49 billion. Expected net income for 2Q 2023 is between $3.45 and $3.55 per diluted share.

WEX has announced that it will release its first quarter 2023 financial results before the market opens on April 27, 2023. CEO Melissa Smith and CFO Jagtar Narula will host a conference call at 10:00 AM ET to discuss these results. The call will be available via webcast on WEX's investor relations website, and participants can join by phone at +1-888-510-2008 or +1-646-960-0306, using the passcode 2237921. A replay of the webcast will be accessible approximately two hours after the event and will be available until May 27, 2023.

WEX is a global commerce platform that simplifies business operations, aiming to help companies manage complexity and reach their potential.

WEX (NYSE: WEX) is set to host WEX SPARK 2023, a major conference for over 1,000 business leaders in San Diego from April 17-19. The event will focus on emerging technologies and industry trends aimed at simplifying payments, fleet management, and benefits administration. CEO Melissa D. Smith highlighted the pressing challenges faced by businesses, including staffing and supply chain issues. Keynote sessions will feature insights from WEX executives on strategies to boost growth. Attendees can expect breakout sessions on product capabilities, and training sessions on the WEX benefits platform. This event is crucial for professionals across various sectors, providing opportunities for networking and collaboration. Additional details can be found at www.wexspark.com.

WEX Inc. (NYSE: WEX), a global commerce platform, announced the participation of Chief Financial Officer Jagtar Narula at the Wolfe FinTech Forum on March 14, 2023, at around 4:00 PM ET. The presentation will be accessible via a live webcast on the Company's Investor Relations website. For those who can't attend live, an audio replay will also be available.

WEX specializes in simplifying business operations with personalized solutions and a strong ecosystem. For further information, visit www.wexinc.com.

WEX Inc. (NYSE: WEX), a global commerce platform, announced that its Chair and CEO, Melissa Smith, will present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 3:25 PM ET. The presentation will be available via a live webcast on the Company’s Investor Relations website and will also feature an audio replay for those unable to attend live. WEX provides embedded solutions aimed at simplifying business operations and enhancing customer experiences globally.

WEX Inc. (NYSE: WEX), a global commerce platform, announced that Chief Strategy Officer Jay Dearborn will present at the 7th Annual Evercore ISI Payments & Fintech Innovators Forum on Thursday, March 2, 2023, at approximately 12:30 PM ET. The presentation will be available via a live webcast on the Investor Relations section of WEX's website. An audio replay will also be accessible for those unable to attend the live session. WEX focuses on simplifying business operations through embedded solutions that leverage data and expertise in various sectors, including benefits and mobility.

WEX Inc. (NYSE: WEX) announced that its Chair and CEO, Melissa Smith, will be presenting at the KBW Fintech Payments Conference on March 1, 2023, at 8:00 AM ET. The presentation will be available for live streaming on the Investor Relations section of WEX's website. Additionally, an audio replay will be accessible for those unable to attend the live event. WEX is known for its global commerce platform that simplifies business operations through a comprehensive ecosystem aimed at enhancing customer experiences. More details can be found on WEX's website.