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Last $95.75 USD
Change Today +1.74 / 1.85%
Volume 272.1K
As of 4:15 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

wex inc (WEX) Key Developments

UATP Partners with WEX to Provide Virtual Credit Card Solution to Entire UATP Network

UATP announced that it has formed a relationship with WEX to provide the WEX Virtual Credit Card Solution (VCC) to the entire UATP Network. This relationship will allow UATP corporate account holders to pay for hotel and rental cars through the VCC solution. Corporate travelers will be given a single-use virtual credit card number which can be used in any currency that WEX settles. Corporate travelers will receive one consolidated travel statement for all of their air, hotel and rental car bookings.

ServiceMaster Global Holdings Selects WEX to Provide Full Suite of Corporate Payments Solutions

WEX Inc. announced that it has been selected to provide its full suite of corporate payments solutions to ServiceMaster Global Holdings Inc. Through this agreement, all corporate and participating franchise vehicles within ServiceMaster's network of well-recognized brands including Terminix and Merry Maids, with an estimated fleet size of 6,600, will utilize WEX's fleet, virtual and analytics solutions. In addition, ServiceMaster will be leveraging WEX's analytics platform to easily analyze large quantities of driver and vehicle data and better understand fleet activity. These analytic capabilities will allow ServiceMaster to quickly identify and understand short- and long-term purchasing trends, review performance benchmarks and identify exceptions to fuel purchase policies. Ultimately, the WEX Fleet analytics platform will allow ServiceMaster to better manage its fleet and generate measurable cost savings.

WEX Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Full Year 2015

WEX Inc. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, total revenue increased 6% to $213.7 million from $201.6 million for the second quarter of 2014. Net income to common shareholders on a GAAP basis was $26.5 million, or $0.68 per diluted share compared with $43.3 million, or $1.11 per diluted share, for the second quarter last year. On a non-GAAP basis, the company's adjusted net income decreased 9% to $48.3 million, or $1.25 per diluted share, from $53.1 million, or $1.36 per diluted share, for the same period a year ago. Adjusted net income has been revised to exclude the impact of foreign currency re-measurement gains and losses and related hedges. Operating income was $62.92 million compared to $80.33 million for the same period a year ago. Income before income taxes was $42.84 million compared to $66.73 million for the same period a year ago. For the six months, the company total revenue of $415.94 million compared to $383.65 million for the same period a year ago. Operating income was $111.16 million compared to $141.87 million for the same period a year ago. Income before income taxes was $77.37 million compared to $123.79 million for the same period a year ago. Net income to common shareholders on a GAAP basis was $48.84 million, or $1.26 per diluted share compared with $79.88 million, or $2.05 per diluted share for the same period a year ago. Adjusted net Income attributable to the company was $94.54 million compared to $94.09 million for the same period a year ago. The company provided earnings guidance for the third quarter and full year 2015. For the third quarter of 2015, the company expects revenue in the range of $224 million to $233 million and adjusted net income in the range of $54 million to $57 million, or $1.38 to $1.46 per diluted share. The company's guidance also assumes that third quarter 2015 credit loss will range between 6 and 11 basis points, and full year 2015 fleet credit loss will range between 7 and 10 basis points. The guidance also includes $11 million to $14 million of after tax losses related to WEX Europe Services. For the full year 2015, the company expects revenue in the range of $847 million to $872 million and adjusted net income in the range of $192 million to $201 million, or $4.94 to $5.14 per diluted share.

WEX Inc. to Report Q2, 2015 Results on Jul 29, 2015

WEX Inc. announced that they will report Q2, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 29, 2015

WEX Inc., Q2 2015 Earnings Call, Jul 29, 2015

WEX Inc., Q2 2015 Earnings Call, Jul 29, 2015

 

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Industry Analysis

WEX

Industry Average

Valuation WEX Industry Range
Price/Earnings 21.4x
Price/Sales 4.3x
Price/Book 3.4x
Price/Cash Flow 14.3x
TEV/Sales 2.5x
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