WEX Reports Strong Q4 Results, Exceeding Expectations

SOUTH PORTLAND, Maine – Wex Inc. (WEX) announced its fourth-quarter financial performance on Wednesday, surpassing market analysts' estimates.

Financial Highlights

* Net income: $63.9 million
* Earnings per share (basic): $1.60
* Adjusted earnings per share: $3.57
* Revenue: $636.5 million

Analyst Expectations

Analysts surveyed by Zacks Investment Research had projected earnings per share of $3.54, while revenue was estimated at $632.1 million.

Revenue and Earnings Guidance

For the first quarter of fiscal 2023, Wex forecasts:

* Earnings per share: $3.35 to $3.50
* Revenue: $625 million to $640 million

For the full year 2023, the company expects:

* Earnings per share: $14.65 to $15.25
* Revenue: $2.6 billion to $2.66 billion