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 a global provider of corporate payment solutions specializing in fleet management, B2B transactions, and benefits administration. This news hub offers investors and professionals timely updates on strategic developments, financial performance, and operational milestones.
Access comprehensive coverage of earnings reports, partnership announcements, and technology innovations across WEX's core segments. Our curated collection ensures you stay informed about payment security advancements, fleet card program expansions, and healthcare payment solutions without promotional bias.
Key updates include corporate acquisitions, regulatory filings, leadership changes, and product launches. Bookmark this page for direct access to primary source materials and analysis-free reporting on WEX's global payment infrastructure developments.
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.
FAQ
What is the current stock price of Wex (WEX)?
What is the market cap of Wex (WEX)?
