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Wex: 2Q Earnings Snapshot

August 2, 2018

SOUTH PORTLAND, Maine (AP) _ Wex Inc. (WEX) on Thursday reported second-quarter net income of $39.3 million.

The South Portland, Maine-based company said it had profit of 90 cents per share. Earnings, adjusted for one-time gains and costs, were $2.09 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.

The provider of fuel payment processing for fleet vehicles posted revenue of $370.9 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $366 million.

For the current quarter ending in October, Wex expects its per-share earnings to range from $2.03 to $2.13.

The company said it expects revenue in the range of $363 million to $373 million for the fiscal third quarter.

Wex expects full-year earnings in the range of $7.90 to $8.15 per share, with revenue ranging from $1.45 billion to $1.48 billion.

Wex shares have risen 35 percent since the beginning of the year. The stock has risen 77 percent in the last 12 months.


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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