Wex: 2Q Earnings Snapshot
SOUTH PORTLAND, Maine (AP) _ Wex Inc. (WEX) on Thursday reported second-quarter earnings of $13.8 million.
The South Portland, Maine-based company said it had profit of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to $2.28 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The provider of fuel payment processing for fleet vehicles posted revenue of $441.8 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $440.1 million.
For the current quarter ending in October, Wex expects its per-share earnings to range from $2.52 to $2.62.
The company said it expects revenue in the range of $455 million to $465 million for the fiscal third quarter.
Wex expects full-year earnings in the range of $9.10 to $9.35 per share, with revenue ranging from $1.72 billion to $1.75 billion.
Wex shares have climbed 56% since the beginning of the year. The stock has risen 15% in the last 12 months.