Welcome to our dedicated page for WEX news (Ticker: WEX), a resource for investors and traders seeking the latest updates and insights on WEX stock.
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 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
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.
WEX Inc. (NYSE: WEX) will report its first-quarter 2022 financial results before the market opens on April 28, 2022. CEO Melissa Smith and CFO Jennifer Kimball will host a conference call at 10:00 A.M. EDT to discuss the results. Interested parties can access the call via the WEX investor relations website or by phone at +1-888-510-2008. A replay will be available shortly after the call and can be accessed until May 28, 2022.
WEX is a global commerce platform that simplifies business operations for its clients.
Nexthink has appointed Roberto Simon as the new Chief Financial Officer, bringing over 15 years of global financial experience to the role. His previous experience includes serving as CFO at WEX and Revlon Inc., where he played a key role in managing growth. The company reports a remarkable 66% annual recurring revenue (ARR) growth in North America, highlighting strong customer demand for their Digital Employee Experience (DEX) solutions. Simon aims to drive further growth amidst the increasing emphasis on employee digital experiences during hybrid work.
WEX Inc. hosted its virtual Investor Day, where CEO Melissa Smith reaffirmed ambitious growth targets for the next five years. The company anticipates 8% to 12% organic revenue growth and 10% to 15% total revenue growth annually. Adjusted net income is projected to grow 15% to 20% per year. WEX emphasized its strong market position and commitment to increasing shareholder value through innovative products and expanding its market reach.
WEX Inc. (NYSE: WEX) has announced that its Chair and CEO, Melissa Smith, will present at the Wolfe Research FinTech Forum on March 9, 2022, at approximately 3:50 PM ET. This presentation will be accessible via a live webcast on the company’s Investor Relations website and through a dedicated Zoom link. For those unable to attend live, an audio replay will be available for 90 days. WEX focuses on simplifying business operations and offers embedded solutions to help companies maximize their potential.
WEX Inc. (NYSE: WEX) announced that its Chair and CEO, Melissa Smith, will present at the KBW Fintech Payments Conference on March 3, 2022, at approximately 1:55 PM ET. The event will be available via live webcast on the company's Investor Relations website, with a replay accessible for 90 days for those unable to attend live. WEX, a global commerce platform, aims to simplify business operations with personalized solutions, rich data, and expertise in benefits, mobility, and payment processing. For more information, visit www.wexinc.com.
FAQ
What is the current stock price of WEX (WEX)?
What is the market cap of WEX (WEX)?
What does WEX Inc. specialize in?
Which market segments does WEX Inc. operate in?
Who are WEX Inc.'s main customers?
Where does WEX Inc. have operations?
How many employees does WEX Inc. have?
What recent legal action has WEX Inc. taken?
What is the Mobility segment of WEX Inc.?
What services are offered under the Corporate Payments segment?
What does the Benefits segment of WEX Inc. involve?
Where can I find more information about WEX Inc.?
