80% of Global Commercial Fleet Leaders Surveyed Set Goal for 25% EVs by 2030, Latest Frost & Sullivan Insights Reveal LONDON, Sept. 18, 2024 /PRNewswire/ -- Conducted by Frost & Sullivan and commissioned by WEX (NYSE: WEX), a new report provides key insights for organisations managing mixed-energy fleets across Europe, North America, and Asia-Pacific. The study underscores the rapid progress in fleet electrification. While EV adoption rates vary by business and fleet type, most fleet managers expect a signi ...

WEX Inc. (WEX) stock has had an impressive run over the past three months. Shares of the company have gained 11.1% compared with the 6.1% growth of the industry it belongs to and the marginal rise of the Zacks S&P 500 composite. The company's revenues for 2024 are expected to improve 6% year over year, and for 2025, it is anticipated to increase 6.4% year over year. Earnings are anticipated to increase 9.2% in 2024 and 12.9% in 2025. The company has an expected long-term (three to five years) earnings per s ...

WEX celebrates World EV Day by welcoming Blink Charging and another brand to its expanding EV Network in the US. These new additions bring WEX's total network to approximately 130,000 public chargers nationwide. Bowie, Maryland, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK), a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, announces its collaboration with WEX to enhance the integration of EV charging into mixed ener ...

WEX Inc. (WEX) reported mixed second-quarter 2024 results, wherein earnings beat the Zacks Consensus Estimates, while revenues missed the same. The stock declined 1.7% since the release of results on Jul 25 on weak 2024 earnings and revenue guidance. WEX expects adjusted diluted earnings per share of $15.98-$16.38 compared with the $16.10-$16.60 provided in the preceding quarter. The mid-point ($16.18) of the same is higher than the consensus estimate for earnings of $16.16 per share. The company expects re ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-32426 WEX Inc. (Exact name of registrant as specified in its charter) Delaware 01-0526993 (State or other juri ...

Core Insights - The company is focusing on commercial electric vehicle (EV) solutions and artificial intelligence (AI) applications to enhance customer value and improve its business model [1][5] - WEX reported a record-high revenue of $673.5 million for the second quarter, reflecting an 8% year-over-year increase [4] - Revenue growth was observed across all three segments: mobility increased by 5.7%, corporate payments by 10.0%, and benefits by 12.9% [2] Technology and Innovation - Enhanced AI tools have contributed to efficiency gains, particularly in managing credit losses and identifying abnormal behaviors that may indicate potential loss events [1] - The company is expanding its commercial EV solutions, currently offering public and home charging solutions, with plans to introduce captive charging solutions in 2024 [6] - The tech-forward approach aims to transform customer experiences, particularly in customer service operations and risk functions, supporting profitability in both the short and long term [7] Market Position and Strategy - WEX aims to solidify its market leadership by providing innovative solutions that meet customer needs in a mixed fleet environment [3][4] - The company believes that most customers will operate in a mixed fleet world, leveraging strengths in both fuel and EV solutions to enhance operational efficiency [4] - WEX is committed to its growth strategy, focusing on operational efficiency targets that drive commercial reinvestment and margin expansion [7]

Wex (WEX) reported $673.5 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.4%. EPS of $3.91 for the same period compares to $3.63 a year ago. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Here is how Wex performed in the just repo ...

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $4.45 on $704.19 million in revenues for the coming quarter and $16.23 on $2.74 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial Transaction Services is currently in t ...

Exhibit 99.1 WEX Inc. Reports Second Quarter 2024 Financial Results Q2 revenue increased 8% year-over-year to a second quarter record $673 million, driven by 13% growth in the Benefits segment and acceleration in Mobility segment growth rate Q2 GAAP net income was $1.83 per diluted share; Q2 adjusted net income was $3.91 per diluted share Q2 GAAP operating income margin of 25.0% and adjusted operating income margin of 40.7% Share repurchases of approximately $100 million during Q2, an additional $70 million ...

Q1 2024 Earnings April 25, 2024 Forward-Looking Statements 2 These materials include forward-looking statements including, but not limited to, statements about management's plans, goals, expectations, and guidance and assumptions with respect to future financial performance of the Company. Any statements in this presentation that are not statements of historical facts are forward-looking statements. When used in this presentation, the words "anticipate," "believe," "continue," "could," "estimate," "expect," ...