Loading...
•
Mar 31
WEX Q1 2025 Earnings Report
WEX reported financial results for the first quarter ended March 31, 2025.
Key Takeaways
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.
Total revenue for Q1 2025 decreased 2% year-over-year to $636.6 million.
Q1 GAAP net income was $71.5 million, or $1.81 per diluted share.
Q1 adjusted net income was $138.4 million, or $3.51 per diluted share.
The company spent $790.0 million on share repurchases in Q1 2025.
WEX
WEX
WEX Revenue by Segment
Revenue by Segment
Mobility Revenue
CapyFin.comCorporate Payments Revenue
CapyFin.comBenefits Revenue
CapyFin.comPayment Processing Revenue
CapyFin.comAccount Servicing Revenue
CapyFin.comFinance Fee Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
For Q2 2025, WEX expects revenue in the range of $640 million to $660 million and adjusted net income between $3.60 and $3.80 per diluted share. For the full year 2025, revenue is expected to be between $2.57 billion and $2.63 billion, with adjusted net income between $14.72 and $15.32 per diluted share.
Positive Outlook
- Guidance updated to account for macro-related impacts.
- Focus on controllable factors in guidance.
- Small but manageable incremental headwinds since original outlook.
- Guidance based on assumed average U.S. retail fuel price of $3.18/gallon for Q2 and $3.10/gallon for full year.
- Guidance assumes a 25.0% adjusted net income effective tax rate.
Challenges Ahead
- Guidance accounts for macro-related impacts of fuel prices, FX, and interest rates.
- Guidance includes impacts from the recently completed tender offer.
- Guidance does not include the impact of a potential further slowdown in the economy.
- The business environment is dynamic.
- Uncertainty regarding foreign currency exchange rates, unrealized gains and losses on financial instruments, and acquisition and divestiture related items make reconciliation to GAAP difficult.