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Wex: 2Q Earnings Snapshot

August 1, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WEX at https://www.zacks.com/ap/WEX

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