WEX Inc. (WEX) Tops Q1 EPS by 2c; Guides Q2 Above Consensus

WEX Inc. (NYSE: WEX) reported Q1 EPS of $1.06, $0.02 better than the analyst estimate of $1.04. Revenue for the quarter came in at $182.1 million versus the consensus estimate of $174.05 million.

First Quarter 2014 Performance Metrics

• Average number of vehicles serviced worldwide was approximately 7.8 million, an increase of 4.1% from the first quarter of 2013.
• Total fuel transactions processed increased 5.7% from the first quarter of 2013 to 92.6 million. Payment processing transactions increased 6.7% to 73.3 million.
• Average expenditure per payment processing transaction decreased 2% from the first quarter of 2013 to $85.94.
• U.S. retail fuel price decreased 3% to $3.64 per gallon from $3.76 per gallon in the first quarter of 2013.
• Total corporate card purchase volume grew 39% to $3.7 billion, from $2.6 billion for the first quarter of 2013.

WEX Inc. sees Q2 2014 EPS of $1.20-$1.27, versus the consensus of $1.19. WEX Inc. sees Q2 2014 revenue of $190-197 million, versus the consensus of $189.5 million.

WEX Inc. sees FY2014 EPS of $4.75-$4.95, versus the consensus of $4.83. WEX Inc. sees FY2014 revenue of $767-787 million, versus the consensus of $764.33 million.

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

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