WEX Q4 2022 Earnings Report
Key Takeaways
WEX Inc. reported a 24% increase in total revenue for Q4 2022, reaching $618.6 million compared to $497.5 million in Q4 2021. Net income attributable to shareholders was $88.7 million, or $2.02 per diluted share, compared to a net loss of $11.8 million, or $0.26 per diluted share, in the same period last year. Adjusted net income was $152.8 million, or $3.44 per diluted share, up 33% from $116.8 million, or $2.58 per diluted share, in the same period last year.
Total revenue increased 24% year-over-year to $618.6 million.
Net income attributable to shareholders was $88.7 million, or $2.02 per diluted share.
Adjusted net income was $152.8 million, or $3.44 per diluted share, a 33% increase year-over-year.
Total volume across all segments increased 45% year over year to $212 billion.
WEX
WEX
WEX Revenue by Segment
Forward Guidance
For the first quarter of 2023, the Company expects revenue in the range of $600 million to $610 million and adjusted net income in the range of $140 million to $145 million, or $3.15 to $3.25 per diluted share. For the full year 2023, the Company expects revenue in the range of $2.43 billion to $2.47 billion and adjusted net income in the range of $604 million to $627 million, or $13.55 to $14.05 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income