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Dec 31, 2023
WEX Q4 2023 Earnings Report
WEX's Q4 2023 financial performance was reported, featuring record revenue and growth in key segments.
Key Takeaways
WEX Inc. reported a 7% increase in revenue for Q4 2023, reaching a record $663 million. This growth was propelled by strong performances in the Benefits and Corporate Payments segments, with adjusted net income at $3.82 per diluted share.
Total revenue increased by 7% year-over-year, reaching a record $663 million.
Benefits segment revenue grew by 27%, while Corporate Payments segment revenue increased by 22%.
GAAP net income was reported at $1.98 per diluted share, and adjusted net income reached $3.82 per diluted share.
The company repurchased 870 thousand shares of its stock for approximately $150 million during the quarter.
Revenue by Segment
Forward Guidance
For the first quarter of 2024, the Company expects revenue in the range of $650 million to $660 million and adjusted net income in the range of $144 million to $148 million, or $3.40 to $3.50 per diluted share. For the full year 2024, the Company expects revenue in the range of $2.70 billion to $2.74 billion and adjusted net income in the range of $679 million to $700 million, or $15.90 to $16.40 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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