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Dec 31, 2019
WEX Q4 2019 Earnings Report
WEX's Q4 2019 earnings increased with double-digit top-line growth and strong operating leverage.
Key Takeaways
WEX Inc. reported a 15% increase in total revenue for Q4 2019, reaching $440.0 million. Net income attributable to shareholders increased to $54.4 million, or $1.24 per diluted share. Adjusted net income was $114.7 million, or $2.61 per diluted share, a 24% increase from the previous year.
Total revenue increased by 15% to $440.0 million.
Net income attributable to shareholders increased to $54.4 million, or $1.24 per diluted share.
Adjusted net income was $114.7 million, or $2.61 per diluted share, up 24% from the previous year.
Average number of vehicles serviced increased by 19%.
Forward Guidance
For the first quarter of 2020, WEX expects revenue in the range of $445 million to $455 million and adjusted net income in the range of $95 million to $99 million, or $2.15 to $2.25 per diluted share. For the full year 2020, the Company expects revenue in the range of $1,860 million to $1,900 million and adjusted net income in the range of $447 million to $464 million, or $10.15 to $10.55 per diluted share.
Positive Outlook
- Revenue in the range of $445 million to $455 million for Q1 2020.
- Adjusted net income in the range of $95 million to $99 million for Q1 2020.
- Revenue in the range of $1,860 million to $1,900 million for FY 2020.
- Adjusted net income in the range of $447 million to $464 million for FY 2020.
- Guidance is based on an assumed average U.S. retail fuel price of $2.69 and $2.70 per gallon for Q1 and FY 2020, respectively.
Challenges Ahead
- Guidance does not include any impacts from the recently announced acquisition of eNett and Optal.
- First quarter and full year 2020 guidance is based on an assumed average U.S. retail fuel price of $2.69 and $2.70 per gallon, respectively.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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