WEX Announces Entry Into a $300 Million Accelerated Share Repurchase Agreement
“Entering into this ASR reflects our confidence and belief in WEX’s intrinsic value and long-term growth potential, underpinned by our strong revenue and earnings growth profile and our expectations for our future cash generation,” said Melissa Smith, WEX’s Chair, Chief Executive Officer, and President. “We remain committed to our capital allocation strategy, which allows us to invest in our future growth while simultaneously driving additional value to our shareholders through opportunistic share repurchases.”
Under the ASR, WEX will make an initial payment of
About WEX
WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.
Forward-Looking Statements
This press release contains forward-looking statements including, but not limited to, statements about management’s plans, goals and expectations with respect to the accelerated share repurchase transaction. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “positions,” “confidence,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including a change in the Company's ability to effectuate or realize the benefits of the accelerated share repurchase transaction as currently planned; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 23, 2024 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.
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News media:
WEX
Julie Lydon, 415-816-9397
Julie.Lydon@wexinc.com
Investor:
WEX
Steve Elder, 207-523-7769
Steve.Elder@wexinc.com
Source: WEX