WEX Q3 2020 Earnings Report
Key Takeaways
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.
Demonstrated ability to adapt to the rapidly-changing operating environment.
Experienced steady recovery of spend volumes across all segments throughout the quarter.
Corporate payments customers and U.S. health business experienced year-over-year top-line growth.
Focused on positioning WEX for sustained long-term growth through strategic investments and technology advancements.
WEX
WEX
WEX Revenue by Segment
Forward Guidance
The Company expects revenue to level off in the fourth quarter, and to ramp up investments in select high-growth areas of our business to position WEX advantageously for future opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income