WEX Inc. provides financial technology services in North America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; premium fleet services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements. This segment markets its products directly and indirectly to commercial and government vehicle fleet customers with small, medium, and large fleets, as well as with over-the-road and long haul fleets; and indirectly through co-branded and private label relationships. The Travel and Corporate Solutions segment provides payment processing solutions for payment and transaction monitoring needs. Its products include virtual cards that are used for transactions where no card is presented and that require pre-authorization; and prepaid and gift card products that enables secure payment and financial management solutions with single card options, access to open or closed loop redemption, load limits, and with various expirations. This segment markets its products directly and indirectly to commercial and government organizations. The Health and Employee Benefit Solutions segment offers healthcare payment products and software-as-a-service consumer directed platforms for healthcare market, as well as payroll related and employee benefit products in Brazil. The company was formerly known as Wright Express Corporation and changed its name to WEX Inc. in October 2012. WEX Inc. was founded in 1983 and is headquartered in Portland, Maine.
IPO Year:
Exchange: NYSE
Website: wexinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/14/2025 | $260.00 → $190.00 | Buy → Neutral | Citigroup |
| 12/17/2024 | $207.00 → $200.00 | Overweight → Equal Weight | Barclays |
| 10/28/2024 | Outperform → Peer Perform | Wolfe Research | |
| 6/5/2024 | $200.00 | Equal Weight | Wells Fargo |
| 10/20/2023 | $210.00 | Neutral | UBS |
| 10/17/2023 | $240.00 | Peer Perform → Outperform | Wolfe Research |
| 7/7/2023 | $190.00 | Hold | Deutsche Bank |
| 6/2/2022 | $230.00 | Outperform | Evercore ISI |
| 4/5/2022 | $205.00 | Overweight | Wells Fargo |
| 2/16/2022 | $200.00 → $220.00 | Buy | Mizuho |
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Results will be released February 5; Conference call scheduled for February 6 WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report fourth quarter and full year 2024 financial results on Wednesday, February 5, 2025, after market close. The press release and WEX's newly-introduced supplemental materials packet—which includes a summary and discussion of our fourth quarter performance—will be available that same afternoon through the investor relations section of the WEX website, www.wexinc.com. On Thursday, February 6, 2025, at 10:00 AM ET, Melissa Smith, WEX's Chair, Chief Executive Officer, and President, and
Q3 revenue increased 2% year-over-year to a third quarter record $665 million, driven by 9% growth in the Benefits segment and continued progression in Mobility segment growth rate Q3 GAAP net income was $2.52 per diluted share; Q3 adjusted net income was $4.35 per diluted share Q3 GAAP operating income margin of 29.5% and adjusted operating income margin of 44.0% $370 million spent on share repurchases in Q3, including a $300 million accelerated share repurchase agreement WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2024. "We continued to deliver growth and str
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report third quarter 2024 financial results before the market opens on Thursday, October 24, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. A replay o
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 in July 2024, and expect to enter into a $300 million accelerated share repurchase agreement in the near future WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report second quarter 2024 financial results before the market opens on Thursday, July 25, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-596-4144 or +1-646-968-2525. The passcode number is 2902800. A replay o
Q1 revenue increased 7% year-over-year to a first quarter record $653 million, driven by 16% growth in the Benefits segment and 17% in the Corporate Payments segment Q1 GAAP net income was $1.55 per diluted share; Q1 adjusted net income was $3.46 per diluted share Q1 GAAP operating income margin of 25.2% and adjusted operating income margin of 38.5% Raises full-year 2024 financial guidance WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended March 31, 2024. "WEX delivered impressive financial results in the first quarter, including record first quarter revenue, marking a strong
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report first quarter 2024 financial results before the market opens on Thursday, April 25, 2024. From WEX, Melissa Smith, Chair, Chief Executive Officer, and President, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-596-4144 or +1-646-968-2525. The passcode number is 2902800.
Q4 revenue increased 7% year-over-year to a record $663 million, driven by 27% growth in the Benefits segment and 22% in the Corporate Payments segment Q4 GAAP net income was $1.98 per diluted share; Q4 adjusted net income was $3.82 per diluted share Q4 GAAP operating income margin of 23.9% and adjusted operating income margin of 39.6% WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months and year ended December 31, 2023. "WEX had another outstanding year as we continued to drive profitable growth, generate strong adjusted free cash flow, and demonstrate our resiliency," said Melissa Smi
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report fourth quarter and full year 2023 financial results before the market opens on Thursday, February 8, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1-888-510-2008 or +1-646-960-0306. The passcode number is 2237
Q3 revenue increased 6% year-over-year to a record $651 million, driven by 34% growth in the Benefits segment and 19% in the Corporate Payments segment Q3 GAAP net income was $0.42 per diluted share; Q3 adjusted net income was $4.05 per diluted share Q3 GAAP operating income margin of 26.8% and adjusted operating income margin of 41.8% Raises full-year 2023 financial guidance WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2023. "The third quarter marked another strong period of financial results for WEX along with meaningful progress against our strategic in
WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the expansion of its electric vehicle (EV) charging solution for Europe's commercial fleets. This milestone comes at a pivotal time as businesses face rising fuel costs and increasing regulatory pressures to reduce carbon emissions. Fleet managers across the continent will increasingly have access to WEX's comprehensive EV charging platform, which includes both ‘En Route' and ‘At-Home' solutions. This platform allows businesses to manage their EV fleets effectively, with reports tailored to simplify operations, provide real-time insights into charging activity, and streamline b
Results will be released February 5; Conference call scheduled for February 6 WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report fourth quarter and full year 2024 financial results on Wednesday, February 5, 2025, after market close. The press release and WEX's newly-introduced supplemental materials packet—which includes a summary and discussion of our fourth quarter performance—will be available that same afternoon through the investor relations section of the WEX website, www.wexinc.com. On Thursday, February 6, 2025, at 10:00 AM ET, Melissa Smith, WEX's Chair, Chief Executive Officer, and President, and
Florida construction company Dallas 1 estimates annual savings of over 60% per vehicle for fuel and maintenance costs thanks to WEX technology that facilitates at-home EV charging and reimbursement WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced a nationwide partnership with EV charger installation provider Qmerit to streamline the installation of EV chargers at the homes of commercial fleet drivers. Under the partnership, Qmerit will provide end-to-end home EV charging installation and integration services drawing on its national network of more than 23,000 electricians who are licensed, insured, and trained on EV chargin
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that its Chair and Chief Executive Officer, Melissa Smith, will present at the UBS Global Technology and AI Conference on Tuesday, December 3, 2024, at approximately 12:50 PM ET. A webcast of the presentation will be available live on the Investor Relations section of the Company's website, http://ir.wexinc.com, or through the link here. For those unable to listen to the live webcast, an audio replay will also be available on the Company's website for up to 180 days. About WEX WEX (NYSE:WEX) is the global commerce platform that simplifies the business of running a busi
WEX pilots GenAI benefits agent and AI-powered analytics to enhance employee decision making, mitigate the workload for overwhelmed HR teams during open enrollment season WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced a partnership with select employers to pilot two new artificial intelligence (AI) enhancements embedded within WEX's benefits administration platform, My Benefit Express. Timed with open enrollment season and as industry pundits explore how AI can be successfully built for and leveraged within employee benefits, WEX announced the pilot launch of its Benefit Assistant and BeneFITwise Premier capabilities, both
Digital shopping solution allows users to purchase grocery and over-the-counter products through a single integrated portal WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the release of the WEX Medicare Advantage marketplace, a new digital shopping solution embedded within the member experience of its Medicare Advantage supplemental benefits platform. This expands the brick-and-mortar merchant network that Medicare Advantage members already have access to with an enhanced online shopping experience that allows members to purchase eligible over-the-counter (OTC) products and grocery items within WEX's integrated member po
For over 30 years, WEX has provided fleet mobility payments and technology solutions to Holman WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced an expanded agreement with Holman, one of the largest integrated automotive service companies in North America, that extends the companies' longstanding partnership through 2030. The agreement renews a more than 30-year partnership between WEX and Holman in the U.S., which leverages WEX fleet mobility solutions as part of Holman's offerings to its customers. The agreement also expands the companies' existing commercial fleet payments partnership across Canada. Additionally, Holman lev
Q3 revenue increased 2% year-over-year to a third quarter record $665 million, driven by 9% growth in the Benefits segment and continued progression in Mobility segment growth rate Q3 GAAP net income was $2.52 per diluted share; Q3 adjusted net income was $4.35 per diluted share Q3 GAAP operating income margin of 29.5% and adjusted operating income margin of 44.0% $370 million spent on share repurchases in Q3, including a $300 million accelerated share repurchase agreement WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended September 30, 2024. "We continued to deliver growth and str
WEX Inc. (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced it will report third quarter 2024 financial results before the market opens on Thursday, October 24, 2024. From WEX, Melissa Smith, Chair and Chief Executive Officer, and Jagtar Narula, Chief Financial Officer, will host a conference call that morning at 10:00 AM ET to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of the WEX website, www.wexinc.com. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800. A replay o
The 10-4 by WEX mobile app will give independent truckers access to fuel discounts typically reserved for larger enterprises WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the general availability release of 10-4 by WEX, a free mobile app that provides independent truckers and small trucking companies in the U.S. with fuel discounts typically reserved for larger trucking enterprises. This increases WEX's total addressable market in its Mobility segment by expanding its diesel product offerings to sole proprietors and other independent businesses. This press release features multimedia. View the full release here: https://www
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8-K - WEX Inc. (0001309108) (Filer)
8-K - WEX Inc. (0001309108) (Filer)
8-K - WEX Inc. (0001309108) (Filer)
10-Q - WEX Inc. (0001309108) (Filer)
8-K - WEX Inc. (0001309108) (Filer)
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10-Q - WEX Inc. (0001309108) (Filer)
Citigroup downgraded WEX from Buy to Neutral and set a new price target of $190.00 from $260.00 previously
Barclays downgraded WEX from Overweight to Equal Weight and set a new price target of $200.00 from $207.00 previously
Wolfe Research downgraded WEX from Outperform to Peer Perform
Wells Fargo initiated coverage of WEX with a rating of Equal Weight and set a new price target of $200.00
UBS resumed coverage of WEX with a rating of Neutral and set a new price target of $210.00
Wolfe Research upgraded WEX from Peer Perform to Outperform and set a new price target of $240.00
Deutsche Bank initiated coverage of WEX with a rating of Hold and set a new price target of $190.00
Evercore ISI resumed coverage of WEX with a rating of Outperform and set a new price target of $230.00
Wells Fargo initiated coverage of WEX with a rating of Overweight and set a new price target of $205.00
Mizuho reiterated coverage of WEX with a rating of Buy and set a new price target of $220.00 from $200.00 previously
WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that Sachin Dhawan has been appointed Chief Technology Officer (CTO). In this position, Mr. Dhawan will lead WEX's global Technology Organization, including product and platform technology, architecture, cybersecurity, infrastructure and cloud engineering, technical operations, enterprise applications and Corporate IT, and technology-risk management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231212875342/en/(Photo: Business Wire) "Sachin is a career technologist with decades of global experience articulating and
Alegeus, the market leader in healthcare payment solutions, today announced the appointment of Melanie Hallenbeck as chief growth officer. With more than two decades of channel experience in the employee benefits and consumer-directed healthcare space, Hallenbeck most recently served as chief growth officer at Elevate, a fast-growing developer of employee benefits technology. Prior to Elevate, she served as chief growth and marketing officer at benefitexpress, which was acquired by Wex (NASDAQ:WEX), a leading global benefits company. Previously, she was senior vice president at WageWorks, leading the organization's health plan partner channel business. Earlier in her career, she held seni
Veteran WEX officer to take on additional strategic duties WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced the appointment of Jay Dearborn as Chief Strategy Officer, effective immediately. In this newly created role, Dearborn will drive both strategy and operational planning across the organization. He will also be responsible for end-to-end M&A activities, including deal origination, execution, and integration, as well as government affairs and external communications. "As we outlined at our Investor Day in March, WEX has a strong history of evolution, and today's announcement represents our commitment to further streamlini
Appointment effective May 25, 2022 WEX (NYSE:WEX), the global commerce platform that simplifies the business of running a business, today announced that Jagtar Narula has been appointed Chief Financial Officer (CFO), effective May 25, 2022. "Jagtar has proven strategic and financial experience leading innovative technology companies," said Melissa Smith, WEX's Chair and Chief Executive Officer. "His strong track record of successfully executing and integrating acquisitions, driving thoughtful growth through effective capital allocation, and building strong finance organizations in technology companies complements our existing leadership team and positions us well for continued profitable
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