Wex, Inc. (WEX) Tops Q3 EPS by 29c, raises guidance

Wex, Inc. (NYSE: WEX) reported Q3 EPS of $4.05, $0.29 better than the analyst estimate of $3.76. Revenue for the quarter came in at $651 million versus the consensus estimate of $638.85 million.

Financial Guidance:

The Company provides revenue guidance on a GAAP basis and earnings guidance on a non-GAAP basis, due to the uncertainty and the indeterminate amount of certain elements that are included in reported GAAP earnings.

For the fourth quarter of 2023, the Company expects revenue in the range of $650 million to $660 million and adjusted net income attributable to shareholders in the range of $3.65 to $3.75 per diluted share versus the consensus of $3.77.
For the full year 2023, the Company now expects revenue in the range of $2.53 billion to $2.54 billion, up from the prior guidance range of $2.50 billion to $2.52 billion. Adjusted net income attributable to shareholders is now expected to be in the range of $14.64 to $14.74 per diluted share versus the consensus of $14.44., an increase from the prior guidance range of $14.15 to $14.35 per diluted share.

Fourth quarter and full year 2023 guidance is based on assumed average U.S. retail fuel prices of $3.80 and $3.83 per gallon, respectively. The fuel prices referenced above are based on the applicable NYMEX futures price from the week of October 16, 2023. Our guidance assumes approximately 44.4 million fully diluted shares outstanding for the full year.

For earnings history and earnings-related data on Wex, Inc. (WEX) click here.

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