WEX Q3 2022 Earnings Report
Key Takeaways
WEX Inc. reported record third-quarter revenue of $616.1 million, a 28% increase year-over-year. Adjusted net income increased by 43% to $3.51 per diluted share. However, the company experienced a GAAP net loss of $1.00 per diluted share. The company is raising full-year 2022 financial guidance.
Total revenue increased 28% year-over-year to a record $616 million.
GAAP net loss was $1.00 per diluted share.
Adjusted net income increased 43% year-over-year to $3.51 per diluted share.
Total volume increased 41% year-over-year to $57.5 billion.
WEX
WEX
WEX Revenue by Segment
Forward Guidance
For the fourth quarter of 2022, the Company expects revenue in the range of $570 million to $580 million and adjusted net income in the range of $3.15 to $3.25 per diluted share. For the full year 2022, the Company now expects revenue in the range of $2.302 billion to $2.312 billion. Adjusted net income is now expected to be in the range of $13.24 to $13.34 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income