WEX Q1 2020 Earnings Report
Key Takeaways
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.
Total revenue increased by 13% to $431.7 million, driven by growth in Corporate Payments and U.S. Health businesses.
Net loss attributable to shareholders was $16.3 million, or $(0.37) per diluted share.
Adjusted net income attributable to shareholders increased to $79.7 million, or $1.81 per diluted share.
The company withdrew its full fiscal year 2020 financial guidance due to the uncertainty surrounding the COVID-19 pandemic.
WEX
WEX
WEX Revenue by Segment
Forward Guidance
Due to the continued evolution of the COVID-19 pandemic and the uncertainty surrounding its impact on the global economy, the Company believes it is prudent to withdraw all previously-issued full fiscal year 2020 financial guidance and refrain from issuing any additional quarterly guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income