Loading...
•
Dec 31, 2024
WEX Q4 2024 Earnings Report
WEX Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
WEX Inc. reported a 4% decrease in Q4 revenue year-over-year to $637 million, primarily due to unfavorable impacts from fuel prices and foreign exchange rates. Full year revenue, however, increased by 3% to $2.63 billion. GAAP net income per diluted share for Q4 was $1.60, while adjusted net income per diluted share was $3.57, down 7% from the prior year.
Q4 revenue decreased 4% year-over-year to $636.5 million, impacted by a net $26.6 million unfavorable impact from fuel prices and spreads.
Q4 GAAP net income was $63.9 million, or $1.60 per diluted share, a decrease from $84.9 million, or $1.98 per diluted share, in the prior year.
Q4 adjusted net income was $142.9 million, or $3.57 per diluted share, down 7% from $163.9 million, or $3.82 per diluted share, in the prior year.
Total volume across all segments decreased 6% year-over-year to $53 billion.
Revenue by Segment
Forward Guidance
For the first quarter of 2025, WEX expects revenue in the range of $625 million to $640 million and adjusted net income in the range of $132 million to $138 million, or $3.35 to $3.50 per diluted share. For the full year 2025, the Company expects revenue in the range of $2.60 billion to $2.66 billion and adjusted net income in the range of $571 million to $595 million, or $14.65 to $15.25 per diluted share.
Positive Outlook
- Targeted investments in product innovation and sales expansion are expected to set the stage for long-term success.
- Initiatives are anticipated to enhance competitive edge and accelerate growth.
- The company aims to deliver exceptional value to shareholders.
- Confidence in growth ambitions due to successes in targeted sales and marketing investments.
- Expectation that investments will drive acceleration in top-line growth rate over time.
Challenges Ahead
- Assumed average U.S. retail fuel prices for 2025 are lower than 2024, which reduces 2025 revenue and adjusted EPS.
- Unrealized gains and losses on financial instruments are difficult to predict and can significantly impact financial results.
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
Loading earnings performance data...
Loading earnings reaction data...