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Jun 30, 2021
WEX Q2 2021 Earnings Report
WEX Inc. reported robust revenue and earnings growth in the second quarter of 2021, driven by volume recovery, higher fuel prices, and strong operating income margins.
Key Takeaways
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.
Total revenue increased 32% to $459.5 million.
Adjusted net income was $104.9 million, or $2.31 per diluted share.
Travel and Corporate Solutions' purchase volume grew 176% to $8.7 billion.
Health and Employee Benefit Solutions' average number of Software-as-a-Service (SaaS) accounts in the U.S. grew 13% to 16.4 million.
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 the third quarter of 2021, WEX anticipates revenue between $465 million and $480 million, with adjusted net income ranging from $98 million to $107 million, or $2.15 to $2.35 per diluted share. The company projects full-year 2021 revenue between $1.805 billion and $1.835 billion, and adjusted net income between $377 million and $395 million, or $8.30 to $8.70 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income