Headquartered in Portland, ME Fiscal year ends December NYSE: WEX wexinc.com
WEX is a payments and software company operating through three reportable segments.
Mobility provides payments and fleet management solutions to more than 600,000 customers globally through North American, Over-the-Road and International business units. Its main offering is fuel cards on a proprietary closed-loop U.S. network covering roughly 95% of fueling locations, with broad acceptance at EV charging locations. It also offers SaaS for field service management, telematics, analytics, cash flow management and mixed-energy fleets. Revenue comes mainly from payment processing, account servicing fees, finance and late fees.
Benefits provides a benefits platform with integrated payments spanning HSAs, FSAs, HRAs, COBRA, and benefits enrollment and administration. It is delivered directly to employers or through partners. WEX serves as an IRS-designated non-bank HSA custodian, while WEX Bank provides HSA depository services. Revenue comes from per-participant fees, HSA deposit interest and debit card interchange.
Corporate Payments provides B2B virtual card and accounts payable automation. Its offerings include Direct to Corporate AP solutions that integrate with ERP systems, Embedded Payments used heavily by online travel, and white-label partnerships with financial institutions. Revenue comes primarily from net interchange.
WEX Bank, an industrial bank, funds receivables and invests HSA deposits using deposits, FHLB advances, participation debt and borrowed federal funds. Results are sensitive to fuel prices, interest rates and credit losses. Updated
Management raised full-year adjusted EPS guidance to $21.28 to $21.48, with roughly $1.40 of that increase resting on the fuel assumption alone, after U.S. retail prices averaged $4.85 a gallon. That cuts both ways if pump prices retreat.
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WEX is a payments and software company operating through three reportable segments. Mobility provides payments and fleet management solutions to more than 600,000 customers globally through North American, Over-the-Road and International business units.
24/7 Wall St.'s 12-month price target for WEX is $220.59, rated Buy. The Wall Street consensus target is $202.09. WEX price prediction →
