WEX, Inc. engages in the provision of payment processing and information management solutions. It operates through the following segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides payment and transaction processing services for the needs of commercial and government fleets. The Travel and Corporate Solutions segment focuses on the payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment, and transaction monitoring needs. The Health and Employee Benefit Solutions segment involves healthcare payment products and SaaS consumer directed platforms, as well as payroll related benefits to customers. The company was founded by Parker Poole III and William Richardson in 1983 and is headquartered in Portland, ME.

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WEX reports record revenue in 2022, eyes growth opportunities

WEX delivered strong financial performance in 2022, with record revenue and volume growth across all segments.
The company's strategic focus on market share, innovation, and cost reductions positions it well for future growth.
Challenges include credit losses, economic slowdown impacts, and the need to navigate changing market dynamics.
Opportunities lie in health care segment growth, cross-selling initiatives, M&A strategies, and product innovation for sustained success.

WEX beats Q1 expectations, eyes growth in Benefits and Payments

WEX delivered strong financial performance in Q1 2023, exceeding revenue and earnings guidance, with positive growth across key segments.
Challenges include margin pressures, credit losses, and potential slowdown in travel-related revenue, but opportunities lie in continued segment growth and strategic investments.
With raised guidance for the year, WEX aims to capitalize on opportunities in Benefits, Corporate Payments, and Mobility Solutions to drive future growth and expansion.

WEX reports record Q2 revenue, raises full-year guidance

WEX delivered strong Q2 results with record revenue and raised full-year guidance, showcasing resilience and growth potential.
Strategic acquisitions, market share initiatives, and focus on innovation position WEX for future success and market outperformance.
Challenges in certain segments like corporate payments and mobility require targeted strategies for sustained growth and profitability.
Opportunities in acquisitions, EV market, network incentives, and international expansion offer avenues for revenue diversification and market leadership.

WEX reports record Q3 earnings, eyes EV market growth

WEX delivered strong financial performance in Q3, exceeding revenue and net income targets
Strategic acquisitions, focus on EV market, and integrated offerings position WEX for future growth
Challenges include healthcare costs, competition, and regulatory landscape, requiring proactive strategies
Opportunities lie in EV market growth, embedded payments, and expansion in European travel volumes

WEX reports record revenue and strong earnings growth in Q4

WEX delivered robust financial performance in Q4 2023, driven by record revenue and strong net income growth, supported by strategic initiatives and acquisitions.
The company's focus on energy transition, cost-saving measures, and digital sales channels positions it well for future growth and market leadership.
While facing challenges like weather impacts and political ad spending, WEX's opportunities lie in venture investments, segment growth strategies, and revenue optimization.
Overall, WEX's financial health, strategic direction, and market positioning indicate a positive outlook for sustained growth and value creation.

WEX reports record revenue in Q1 2024, raises guidance

WEX delivered strong financial performance in Q1 2024, with record revenue and increased net income per share, driven by strategic partnerships and segment growth.
While facing short-term challenges in migration processes and delinking of revenue and EPS, WEX remains optimistic about long-term prospects and operational improvements.
The company's focus on innovation, revenue diversification, and operational efficiency positions WEX for continued growth and market leadership in the payment solutions industry.

WEX achieves record revenue and profitability growth in Q2 2024

WEX delivered strong financial performance with record revenue and profitability growth in Q2 2024.
The company's strategic focus on innovation, cost savings, and segment diversification bodes well for future growth.
While challenges and competition persist, WEX's proactive approach and market positioning offer opportunities for sustained success.

WEX reports Q3 revenue growth, faces Mobility segment challenges

WEX Inc. reported mixed results with revenue growth, profitability increase, and segment-specific challenges in Q3 2024.
Effective cost management strategies and strong performance in the Benefits segment were key highlights of the earnings call.
Challenges in the Mobility and Corporate Payments segments impacted overall results, leading to revised guidance for the full year.
Opportunities in digital marketing, EV solutions, and continued cost savings present avenues for future growth and performance enhancement.

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WEX, Inc. engages in the provision of payment processing and information management solutions. It offers fuel cards and fleets, employee benefits, and business payments products. It operates through the following segments: Mobility, Corporate Payments, and Benefits. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services. The Corporate Payments segment focuses on the complex payment environment of global business to business payments. The Benefits Segment provides SaaS software with embedded payment solutions and plan administration services for consumer directed health benefits. The company was founded by Parker Poole III and William Richardson in 1983 and is headquartered in Portland, ME.

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions (the “Company”), today announced that it is providing certain prospective lenders information for purposes of considering a potential refinancing of its credit facility, including among other things extending the maturity date of the tranche A term loans and revolving credit facility to 2026 and the tranche B term loans to 2028. There can be no assurance that the Company will be able to com

WEX Inc. Announces Plans for Potential Debt Refinancing

PORTLAND, Maine--(BUSINESS WIRE)--WEX has been awarded a multi-year contract renewal with Sourcewell, an agency that serves the education, nonprofit and government sectors.

WEX Continues to Bring Value to Sourcewell Members

Ford Motor Company

WEX has made a deal with Ford Smart Mobility LLC through which the latter firm will be able to refer its business fleet clients to WEX. Ford Smart Mobility LLC is a part of the Ford Motor Co., which is among the biggest business vehicle makers globally, according to a Monday (March 8) announcement.

Ford Smart Mobility Will Refer Business Fleet Clients To WEX

PORTLAND, Maine--(BUSINESS WIRE)--WEX today announced it has reached an agreement to deliver WEX fuel cards to Ford Commercial Solutions fleet customers.

WEX Teams up With Ford for New Commercial Fleet Referral Arrangement

WEX's (WEX) fourth-quarter 2020 revenues are hurt by lower average fuel prices and foreign exchange rates.

WEX Misses Earnings Estimates in Q4, Stock Declines 9.4%

PORTLAND, Maine--(BUSINESS WIRE)--WEX announced today its agreement with OMV, expanding its presence within Europe.

WEX Expands Presence in Europe with OMV Win

FARGO, N.D.--(BUSINESS WIRE)--WEX, a leading fintech service provider, further solidified its leadership position in 2020 in terms of growth and services across its Health division

WEX's Health Division Strengthens Position as Industry Leader

WEX Inc. (WEX) CEO Melissa Smith on Q4 2020 Results - Earnings Call Transcript

Truck fleet payments and fuel card provider WEX Inc. (NYSE: WEX) reported adjusted earnings per share of $1.45 Wednesday, 2 cents light of the consensus estimate and $1.16 lower year-over-year. The headline number was a loss of $5.30 per share, which included more than $200 million in one-off acquisition-related expenses and a goodwill impairment charge.

Fuel card provider WEX sees ‘slow and steady' recovery in 2021

Wex (WEX) delivered earnings and revenue surprises of -0.68% and 3.23%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

Wex (WEX) Q4 Earnings Miss Estimates

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months and year ended December 31, 2020. Fourth Quarter and Full Year 2020 Financial Results Total revenue for the fourth quarter of 2020 decreased 9% to $399.0 million from $440.0 million for the fourth quarter of 2019. The $41.1 million decrease in the quarter includes a $16.8 million negative impact from lower average fuel prices and foreign

WEX Inc. Reports Fourth Quarter and Full Year 2020 Financial Results

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE:WEX), a leading financial technology service provider, today announced it will present at the following upcoming investor conferences: On Thursday, February 25, Chief Financial Officer, Roberto Simon, will present at the 2021 Virtual KBW Fintech Payments Conference at approximately 12:10 PM EST (9:10 AM PST). A webcast of the presentation will be available live on the Investor Relations section of the Company's website, www.wexinc.com, or through

WEX Inc. to Present at Upcoming Investor Conferences

Wex (WEX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Wex (WEX) Expected to Beat Earnings Estimates: Should You Buy?

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE:WEX), a leading financial technology service provider, today announced the signing of an agreement to acquire certain health savings account (“HSA”) assets of HealthcareBank, the custodian bank for customers of WEX's Health division. We believe this acquisition will allow the Company to better capture the economics from these HSA assets. “This asset purchase expands WEX's role in the attractive consumer-directed healthcare ecosystem and aligns wi

WEX Signs Definitive Agreement to Acquire Certain HSA Assets of HealthcareBank

PORTLAND, Maine--(BUSINESS WIRE)--WEX (NYSE:WEX), a leading financial technology service provider, announced today that it will redeem its outstanding $400 million 4.75% Senior Secured Notes due February 1st, 2023 (the “Notes”) on March 15, 2021. The Company has already sent notice to The Bank of New York Mellon Trust Company, N.A., the trustee for the Notes, of its intent to redeem the Notes. The redemption price of the Notes is $400 million plus accrued and unpaid interest through the propose

WEX Announces Redemption of Notes

WEX Bank has inked a multi-year deal with NASPO ValuePoint, the purchasing division of the National Association of State Procurement Officials (NASPO), for its fleet card offering. NASPO is a nonprofit group focused on “advancing public procurement,” while WEX Bank is a wholly-owned subsidiary of WEX, according to a Monday (Feb. 8) announcement.

WEX Bank Strikes Deal With NASPO ValuePoint For Fleet Card Program

PORTLAND, Maine--(BUSINESS WIRE)--WEX Bank, a wholly owned subsidiary of WEX, has signed a multi-year contract with NASPO ValuePoint for its fleet card program.

New Contract Between WEX Bank and NASPO ValuePoint Offers Savings To States and Other Eligible Users

PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE: WEX), a leading financial technology service provider, today announced it will report fourth quarter and full year 2020 financial results before the market opens on Wednesday, February 24, 2021. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Roberto Simon, Chief Financial Officer, will host a conference call that morning at 9:00 A.M. EST to discuss the Company's results. The conference call will be webcast live online and may be

WEX Inc. to Release Fourth Quarter and Full Year 2020 Financial Results on February 24, 2021

Jay Dearborn, president of corporate payments for WEX, discusses how 2020 triggered the transformation of the payments industry that had been slowly building up over time. Now that we've reached what he terms the "digital tipping point," he shares three key trends to consider when thinking through the payments opportunities that will emerge in 2021.

WEX: Accelerating Change In B2B Payments

In an effort to simplify B2B payments for Australia, FinTech service provider WEX is teaming with digital business management technology company MYOB. The tie-up provides WEX clients with access to MYOB's business payment technology for vendor payments through WEX virtual credit cards, according to an announcement.

WEX Teams With MYOB For Supplier Payments In Australia

The latest deal is expected to help WEX strengthen its business-to-business payments venture in Australia.

WEX Poised to Benefit From MYOB Collaboration: Here's How

MELBOURNE, Australia--(BUSINESS WIRE)--WEX today announced its collaboration with online business management platform MYOB to deliver B2B payments for Australian businesses.

WEX works with MYOB to increase ease of B2B payments for Australia

It's not often that a mid-cap company finds a way to save $1 billion.

Why WEX Stock Rose 17% in December

PORTLAND, Maine--(BUSINESS WIRE)--WEX has signed a multi-year extension of services with LUKOIL North America LLC.

One of WEX's Longest-Standing Clients Signs Extension

WEX Inc. said on Tuesday (Dec. 15) said it has wrapped up its previously announced deal to buy eNett, which is a B2B payment solution provider, and Optal, a firm that focuses on optimizing B2B transactions. WEX paid an overall roughly $577.5 million in consideration from cash on hand, according to an announcement.

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