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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 record revenue of $612 million for 1Q 2023, up 18% year-over-year, although GAAP net income fell 42% to $1.56 per diluted share. Adjusted net income attributable to shareholders rose 15% to $3.31. The operating income margin improved to 25.2% GAAP and 37.6% adjusted. Total transaction volume increased 17% to $52.3 billion, with significant growth in Corporate Payments (up 58% to $18.6 billion). WEX repurchased approximately 525,000 shares for $93 million. The company raised its full-year revenue guidance to between $2.45 billion and $2.49 billion. Expected net income for 2Q 2023 is between $3.45 and $3.55 per diluted share.
WEX has announced that it will release its first quarter 2023 financial results before the market opens on April 27, 2023. CEO Melissa Smith and CFO Jagtar Narula will host a conference call at 10:00 AM ET to discuss these results. The call will be available via webcast on WEX's investor relations website, and participants can join by phone at +1-888-510-2008 or +1-646-960-0306, using the passcode 2237921. A replay of the webcast will be accessible approximately two hours after the event and will be available until May 27, 2023.
WEX is a global commerce platform that simplifies business operations, aiming to help companies manage complexity and reach their potential.
WEX (NYSE: WEX) is set to host WEX SPARK 2023, a major conference for over 1,000 business leaders in
WEX Inc. (NYSE: WEX), a global commerce platform, announced the participation of Chief Financial Officer Jagtar Narula at the Wolfe FinTech Forum on March 14, 2023, at around 4:00 PM ET. The presentation will be accessible via a live webcast on the Company's Investor Relations website. For those who can't attend live, an audio replay will also be available.
WEX specializes in simplifying business operations with personalized solutions and a strong ecosystem. For further information, visit www.wexinc.com.
WEX Inc. (NYSE: WEX), a global commerce platform, announced that its Chair and CEO, Melissa Smith, will present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 3:25 PM ET. The presentation will be available via a live webcast on the Company’s Investor Relations website and will also feature an audio replay for those unable to attend live. WEX provides embedded solutions aimed at simplifying business operations and enhancing customer experiences globally.
WEX Inc. (NYSE: WEX), a global commerce platform, announced that Chief Strategy Officer Jay Dearborn will present at the 7th Annual Evercore ISI Payments & Fintech Innovators Forum on Thursday, March 2, 2023, at approximately 12:30 PM ET. The presentation will be available via a live webcast on the Investor Relations section of WEX's website. An audio replay will also be accessible for those unable to attend the live session. WEX focuses on simplifying business operations through embedded solutions that leverage data and expertise in various sectors, including benefits and mobility.
WEX Inc. (NYSE: WEX) announced that its Chair and CEO, Melissa Smith, will be presenting at the KBW Fintech Payments Conference on March 1, 2023, at 8:00 AM ET. The presentation will be available for live streaming on the Investor Relations section of WEX's website. Additionally, an audio replay will be accessible for those unable to attend the live event. WEX is known for its global commerce platform that simplifies business operations through a comprehensive ecosystem aimed at enhancing customer experiences. More details can be found on WEX's website.
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