- WEX (NYSE:WEX -0.6%) reports revenue were negatively impacted by fuel prices and foreign currency translations in Q2
- Fleet Solutions revenue grew 6.2% to $143.96M.
- Travel and Corporate Solutions revenue expanded 10.6% to $53.34M.
- Health and Benefit Employee Solutions revenue advanced 22.5% to $36.64M.
- Average number of vehicles serviced declined 2% to ~9.6M.
- Fleet solutions payment processing transactions increased 8.6% to 94.16M.
- Total travel and corporate solution card purchase volume rose 14% to $5.6B.
- Operating margin rate slipped 730 bps to 22.1%.
- Q3 Guidance: Revenue: $272M to $282M; Adjusted net income: $46M to $49M; Adjusted EPS: $1.07 to $1.14; Shares outstanding: ~43M.
- FY2016 Guidance: Revenue: $975M to $1B; Adjusted net income: $171M to $179M; Adjusted EPS: $4.17 to $4.37; Shares outstanding: ~43M.