WEX Earnings Reports

WEX delivered a strong third quarter in 2025, with total revenue increasing by 3.9% to $691.8 million, driven by robust performance in the Benefits and Corporate Payments segments. GAAP diluted EPS was $2.30, while adjusted diluted EPS reached $4.59, surpassing guidance. The company also raised its full-year 2025 revenue and adjusted net income guidance, reflecting confidence in continued growth and operational efficiency.

WEX delivered robust financial results in Q2 2025, with total revenue of $659.6 million and adjusted net income of $136.2 million, or $3.95 per diluted share, exceeding expectations. Despite a 2% decrease in total revenue year-over-year, largely due to unfavorable fuel prices, the company demonstrated strong operational momentum, particularly in its Benefits segment which saw a 9% revenue increase and 6% growth in SaaS accounts. Corporate Payments' purchase volume decreased significantly, while Mobility's payment processing transactions also saw a slight decline. The company's focus on cost management and investments in sales and marketing contributed to the positive adjusted EPS.

WEX reported a 2% decrease in total revenue to $636.6 million in the first quarter of 2025 compared to the prior year, primarily due to unfavorable impacts from fuel prices and foreign exchange rates. GAAP net income increased to $71.5 million, while adjusted net income decreased to $138.4 million. The company repurchased $790 million of its common stock.

WEX Inc. reported a 4% decrease in Q4 revenue year-over-year to $637 million, primarily due to unfavorable impacts from fuel prices and foreign exchange rates. Full year revenue, however, increased by 3% to $2.63 billion. GAAP net income per diluted share for Q4 was $1.60, while adjusted net income per diluted share was $3.57, down 7% from the prior year.

WEX Inc. reported a 2% year-over-year increase in revenue, reaching a record $665 million for the third quarter of 2024. GAAP net income increased to $102.9 million, or $2.52 per diluted share, while adjusted net income was $177.5 million, or $4.35 per diluted share. The company spent $370 million on share repurchases during the quarter.

WEX reported a strong second quarter in 2024, with revenue reaching a record $673.5 million, an 8% increase year-over-year. Adjusted net income was $3.91 per diluted share, exceeding the high end of the guidance range. The company repurchased approximately $100 million of shares during the quarter and plans to enter into a $300 million accelerated share repurchase agreement.

WEX Inc. reported a 7% year-over-year increase in revenue to $652.7 million for Q1 2024, driven by strong growth in the Benefits and Corporate Payments segments. GAAP net income was $65.8 million, or $1.55 per diluted share, while adjusted net income was $146.7 million, or $3.46 per diluted share. The company raised its full-year 2024 financial guidance.

WEX Inc. reported a 7% increase in revenue for Q4 2023, reaching a record $663 million. This growth was propelled by strong performances in the Benefits and Corporate Payments segments, with adjusted net income at $3.82 per diluted share.

WEX Inc. reported a 6% year-over-year increase in revenue, reaching a record $651 million in Q3 2023. The growth was driven by a 34% increase in the Benefits segment and a 19% increase in the Corporate Payments segment. GAAP net income was $0.42 per diluted share, while adjusted net income was $4.05 per diluted share. The company also raised its full-year 2023 financial guidance.

WEX reported a strong Q2 2023 with record revenue of $621.3 million, a 4% increase year-over-year. Growth was driven by the Benefits and Corporate Payments segments. GAAP net income was $95.3 million, or $2.20 per diluted share, while adjusted net income was $159.3 million, or $3.63 per diluted share. The company raised its full-year guidance for both revenue and adjusted earnings per share.

WEX Inc. reported an 18% year-over-year increase in revenue, reaching a record $612 million for Q1 2023. GAAP net income was $1.56 per diluted share, while adjusted net income attributable to shareholders increased by 15% year-over-year to $3.31 per diluted share. The company is raising its full-year 2023 financial guidance.

WEX Inc. reported a 24% increase in total revenue for Q4 2022, reaching $618.6 million compared to $497.5 million in Q4 2021. Net income attributable to shareholders was $88.7 million, or $2.02 per diluted share, compared to a net loss of $11.8 million, or $0.26 per diluted share, in the same period last year. Adjusted net income was $152.8 million, or $3.44 per diluted share, up 33% from $116.8 million, or $2.58 per diluted share, in the same period last year.

WEX Inc. reported record third-quarter revenue of $616.1 million, a 28% increase year-over-year. Adjusted net income increased by 43% to $3.51 per diluted share. However, the company experienced a GAAP net loss of $1.00 per diluted share. The company is raising full-year 2022 financial guidance.

WEX Inc. reported a strong second quarter in 2022, with record revenue of $598.2 million, a 30% increase year-over-year. Adjusted net income per share increased by 61% to $3.71. The company also raised its full-year 2022 financial guidance.

WEX Inc. reported a strong first quarter in 2022, with total revenue increasing by 26% year-over-year to $517.5 million. GAAP net income per share increased to $2.71, and adjusted net income per share increased by 61% to $2.88. The company also raised its full-year 2022 financial guidance.

WEX Inc. reported strong fourth-quarter results, with total revenue increasing by 25% to $497.5 million compared to the same period last year. The company's adjusted net income was $116.8 million, or $2.58 per diluted share, a significant increase from the previous year. The results exceeded expectations, driven by growth in each of the company's segments.

WEX Inc. reported a 26% increase in total revenue for Q3 2021, reaching $482.8 million, compared to $382.1 million in Q3 2020. Net income attributable to shareholders was $48.3 million, or $1.07 per diluted share, a significant increase from the net loss of $65.8 million, or $(1.49) per diluted share, in the same period last year. Adjusted net income was $111.1 million, or $2.45 per diluted share, up 54% per diluted share from $70.9 million, or $1.59 per diluted share, in the third quarter of 2020.

WEX Inc. reported a 32% increase in total revenue to $459.5 million for the second quarter of 2021. The company's adjusted net income was $104.9 million, or $2.31 per diluted share. The results reflect strong execution, positive trends, and strong demand for WEX's platform and services.

WEX Inc. reported a 5% decrease in total revenue to $410.8 million for Q1 2021, compared to $431.7 million in Q1 2020. The GAAP net loss attributable to shareholders decreased to $2.6 million, or $(0.06) per diluted share, while adjusted net income was $81.3 million, or $1.79 per diluted share.

WEX Inc. reported a 9% decrease in total revenue for Q4 2020, totaling $399.0 million compared to $440.0 million in Q4 2019. The company experienced a net loss of $(234.2) million, or $(5.30) per diluted share, compared to a net income of $54.4 million, or $1.24 per diluted share, for the same period a year ago. Adjusted net income was $64.8 million, or $1.45 per diluted share, a 45% decrease from the previous year.

WEX Inc. reported a 17% decrease in total revenue to $382.1 million for Q3 2020 compared to $460.0 million in Q3 2019. Net loss attributable to shareholders was $65.8 million, or $1.49 per diluted share, compared to net income of $14.6 million, or $0.33 per diluted share, for the same period last year. Adjusted net income was $70.9 million, or $1.59 per diluted share, down 39% per diluted share year-over-year.

WEX Inc. reported a 21% decrease in total revenue to $347.1 million compared to Q2 2019, impacted by COVID-19. Net income attributable to shareholders increased to $72.7 million, or $1.66 per diluted share, while adjusted net income was $53.0 million, or $1.21 per diluted share.

WEX Inc. reported a 13% increase in total revenue for Q1 2020, reaching $431.7 million. However, the company experienced a net loss attributable to shareholders of $16.3 million, or $(0.37) per diluted share. Despite the net loss, adjusted net income attributable to shareholders was $79.7 million, or $1.81 per diluted share.

WEX Inc. reported a 15% increase in total revenue for Q4 2019, reaching $440.0 million. Net income attributable to shareholders increased to $54.4 million, or $1.24 per diluted share. Adjusted net income was $114.7 million, or $2.61 per diluted share, a 24% increase from the previous year.