WEX Q2 2022 Earnings Report
Key Takeaways
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.
Revenue increased 30% year-over-year to a record $598 million.
GAAP net income per share increased to $0.76 per diluted share.
Adjusted net income per share increased 61% year-over-year to $3.71 per diluted share.
Total purchase volume increased 77% year-over-year to $37 billion.
WEX
WEX
WEX Revenue by Segment
Forward Guidance
For Q3 2022, WEX expects revenue between $580 million and $590 million, and adjusted net income between $152 million and $156 million, or $3.35 to $3.45 per diluted share. For the full year 2022, the company now expects revenue between $2.250 billion and $2.280 billion and adjusted net income between $592 million and $603 million, or $13.05 to $13.30 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income