Wex Inc - WEX STOCK NEWS

WEX Inc. (NYSE: WEX) has announced that its Chair and CEO, Melissa Smith, will present at the 42nd Annual William Blair Growth Stock Conference on June 8, 2022, at approximately 12:00 PM CT. A live webcast of the presentation will be available on WEX's Investor Relations website, with a replay accessible for 90 days afterward. WEX is a global commerce platform focused on simplifying business operations through personalized solutions and rich data capabilities.

WEX (NYSE: WEX) has announced a new partnership with AutoZone (NYSE: AZO) that enables eligible WEX customers to buy automotive parts for Class 1–5 vehicles at national account pricing through the WEX EDGE savings network. This collaboration aims to reduce costs for businesses reliant on vehicle operation. The WEX EDGE platform already offers savings on fuel, tires, and hotel accommodations, and this addition aims to provide further discounts on auto parts purchases.

WEX Inc. (NYSE: WEX), a global commerce platform, announced that its CEO, Melissa Smith, will present at the Barclays Emerging Payments and FinTech Forum on May 16, 2022, at around 8:40 AM ET. The presentation will be available live via webcast on the company's Investor Relations page, with a replay accessible for one year. WEX aims to simplify business operations through embedded solutions and rich data, helping companies navigate complexities and achieve their goals.

WEX reported a robust 26% year-over-year revenue growth reaching a record $518 million in Q1 2022. The GAAP net income per diluted share surged to $2.71, compared to a net loss of $0.06 in Q1 2021. Adjusted net income rose 61% to $2.88 per diluted share. Total purchase volume soared 66% to $28 billion. Citing strong performance, WEX raised its full-year guidance for 2022, with revenue expected between $2.155 billion and $2.195 billion.

WEX will host SPARK 2022 from May 16-18, 2022 at The Diplomat Beach Resort, Hollywood, Florida. This 15th annual conference aims to educate industry leaders on emerging trends in employee benefits. Keynote speakers include Ken Schmidt and Tiffani Bova, with breakout sessions covering topics like financial wellness and the Great Resignation. WEX's benefits platform aims to simplify healthcare expenses in the US and Canada. Registration details can be found online.

WEX has launched Flume, a digital wallet aimed at supporting 30 million small businesses in the U.S. currently underserved by digital payment solutions. Developed through WEX Ventures, Flume seeks to streamline payment processes for small and medium businesses, especially those with annual revenues below $15 million. By eliminating the manual accounts payable and receivable processes, Flume enhances productivity and accelerates payment, addressing painful delays typical in industries like construction. The rollout will begin with existing WEX fuel card users and expand to specific trade sectors in the coming months.

WEX has appointed Jagtar Narula as the new Chief Financial Officer (CFO), effective May 25, 2022. Narula brings extensive experience from 3D Systems and Blackbaud, among others, highlighting a strong track record in financial leadership, acquisition integration, and strategic growth. His appointment aims to bolster WEX's financial discipline and innovation in technology, as noted by CEO Melissa Smith. Interim CFO Jennifer Kimball will return to her role as Chief Accounting Officer, supporting Narula's transition.

TravelCenters of America (Nasdaq: TA) has announced the launch of TA Fleet Universal, a new fleet card payment program in collaboration with WEX (NYSE: WEX). The card, usable at all 275 TA locations and 16,000 truck stops, offers discounts on fuel and products, enhancing convenience for drivers. CEO Jon Pertchik emphasized the program's role in improving guest experiences. With the integration of WEX's global platform, the initiative is aimed at providing competitive purchasing options to professional drivers across the nation.