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WEX Inc. (NYSE: WEX) is a global leader in corporate payment solutions designed to enhance business efficiency, security, and cost control. Founded in 1983 with a focus on fleet card payments, WEX has since diversified its offerings to encompass a wide array of corporate payment solutions, serving millions of cardholders across various sectors, including travel, healthcare, and employee benefits.
The company operates in three main segments: Mobility, Benefits, and Corporate Payments. The Mobility segment, which generates the highest revenue, offers fleet vehicle payment solutions, transaction processing, and information management services for both commercial and government fleets. The Corporate Payments segment provides business-to-business payment processing and transaction monitoring services. The Benefits segment focuses on healthcare payment products and a consumer-directed software platform.
WEX has a significant presence across North and South America, Europe, Australia, New Zealand, and Asia, employing over 2,000 associates. The company is committed to delivering exceptional payment security and control, ensuring that businesses of all sizes can operate efficiently and profitably.
Recent achievements highlight WEX's commitment to innovation and industry leadership. The company has filed a federal lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement. This legal action underscores WEX's dedication to protecting its brand and intellectual property rights.
For more detailed information and the latest updates, visit WEX Inc.
WEX reported a strong financial performance for Q4 and the full year of 2021. Total revenue rose 25% year-over-year to $497.5 million, driven by higher fuel prices. The GAAP net loss narrowed to $11.8 million from $234.2 million a year earlier. Adjusted net income soared 78% to $116.8 million, or $2.58 per diluted share. For 2021, total revenue increased 19% to $1.85 billion, with adjusted earnings per share climbing 51% to $9.14. Looking forward, WEX targets Q1 2022 revenue of $495-$505 million and full-year revenue of $2.05-$2.09 billion.
WEX (NYSE: WEX), a prominent financial technology service provider, has announced a virtual Investor Day scheduled for Wednesday, March 23, 2022, starting at 9:00 a.m. ET and concluding around 11:30 a.m. ET. CEO Melissa Smith and the executive leadership team will present key insights. The event will be accessible via webcast through the WEX Investor Relations website, with a replay available post-event. WEX serves various sectors including fleet, corporate payments, and travel, employing around 5,600 people globally.
WEX (NYSE: WEX), a prominent financial technology service provider, will announce its fourth quarter and full year 2021 financial results on February 10, 2022, before the market opens. CEO Melissa Smith and Interim CFO Jennifer Kimball will lead a conference call at 10:00 A.M. EDT to discuss the results. The call will be accessible via the investor relations section of the WEX website and through phone. A replay will be available starting approximately two hours after the call until March 10, 2022.
WEX (NYSE: WEX) and Bestpass have launched WEX Fleet Tolls powered by Bestpass, enhancing toll management for over-the-road customers. This service enables users to pay tolls using their existing WEX card, streamlining the payment process by aggregating toll fees into a single statement. This innovation is expected to free up capital for fleet investments and simplify management by eliminating the need for multiple toll accounts across the U.S. The collaboration strengthens WEX's suite of payment solutions for commercial fleets.
WEX announces the appointment of
WEX announced the appointment of
UMB Healthcare Services, a prominent national HSA provider, has launched a comprehensive suite of tax-advantaged benefit accounts to enhance its offerings. This includes flexible spending accounts, health reimbursement arrangements, and commuter benefit accounts, all powered by WEX. The initiative aims to streamline benefit administration for employers while providing employees with advanced financial wellness tools and secure member portals for claims and reimbursements. UMB currently manages over 1.4 million HSAs with assets exceeding $3 billion.
WEX Inc. (NYSE:WEX), a leader in financial technology services, announced that CEO Melissa Smith will present at the Citi 2021 Financial Technology Virtual Conference on November 16, 2021, at 11:15 AM EST. The presentation can be accessed via a live webcast on the company's Investor Relations website. An audio replay will be available for 90 days post-event. WEX provides diverse payment solutions across sectors like fleet and corporate payments, employing around 5,400 people globally.
WEX announced a reorganization of its Executive Leadership Team, effective
WEX reported Q3 2021 financial results showing significant growth, with total revenue up 26% year-over-year to $482.8 million. This growth was driven by a recovery in customer spending amid COVID-19 impacts and new customer acquisitions. Total purchase volume reached an all-time high of $26 billion, increasing 93%. Net income improved to $48.3 million from a loss of $65.8 million a year prior, translating to $1.07 per diluted share. WEX also provided optimistic guidance for Q4 and the full year 2021, estimating revenue between $468 million and $483 million.
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