NYSE$WEX
WEX Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
WEX's Q1 2022 earnings were released, demonstrating record revenue and increased profitability.
WEX Inc. reported a strong first quarter in 2022, with total revenue increasing by 26% year-over-year to $517.5 million. GAAP net income per share increased to $2.71, and adjusted net income per share increased by 61% to $2.88. The company also raised its full-year 2022 financial guidance.
- Total revenue for Q1 2022 increased by 26% to $517.5 million.
- GAAP net income per share increased to $2.71 per diluted share.
- Adjusted net income per share increased 61% year-over-year to $2.88 per diluted share.
- Total volume across the company increased by 50% from Q1 2021.
Headline financials
Revenue & EPS history
WEX · Revenue · Quarterly
$518M
Revenue by segment
WEX · $651M total across 3 segments · Q3 2023
- Mobility$350M—53.7%
- Benefits$166M—25.5%
- Corporate Payments$135M—20.8%
Forward guidance
For Q2 2022, WEX anticipates revenue between $555 million and $565 million, with adjusted net income ranging from $154 million to $159 million, or $3.35 to $3.45 per diluted share. The full-year 2022 revenue is projected to be between $2.155 billion and $2.195 billion. Adjusted net income for the year is expected to be in the range of $569 million to $588 million, or $12.40 to $12.80 per diluted share.
Tailwinds
- Revenue is expected to be in the range of $555 million to $565 million for Q2 2022.
- Adjusted net income is projected to be between $154 million and $159 million for Q2 2022.
- Full-year 2022 revenue is now expected to be in the range of $2.155 billion to $2.195 billion.
- Adjusted net income for full-year 2022 is expected to be between $569 million and $588 million.
- Guidance assumes approximately 47.5 million fully diluted shares outstanding for the full year.
Headwinds
- Guidance is based on assumed average U.S. retail fuel prices of $4.46 and $4.13 per gallon for Q2 and full year 2022, respectively, which could fluctuate.
- Adjusted net income guidance excludes certain items, making it difficult to reconcile with GAAP measures.
- Uncertainty in predicting amounts to be adjusted, including foreign currency exchange rates and acquisition-related items.
- Potential impact of the coronavirus (COVID-19) pandemic on the Company’s business and financial condition.
- Risk of fluctuations in fuel prices and fuel spreads in the Company’s international markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-1.8%
Avg return
Earnings day
-3.3%
Avg return
5 days after
-2.2%
Avg return
30 days after
39%
27 / 69 earnings
Positive
+10.0%
Q3 2022
Best reaction
-18.7%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.0% | -17.6% | -18.7% | |
| Q4 2025 | -0.2% | +11.5% | +12.2% | |
| Q3 2025 | -1.6% | -3.9% | -3.7% | |
| Q2 2025 | -0.4% | -3.5% | -3.1% | |
| Q1 2025 | -6.8% | -6.2% | +2.0% | |
| Q4 2024 | -18.7% | -17.1% | -15.0% | |
| Q3 2024 | -16.0% | -18.7% | -13.0% | |
| Q2 2024 | +0.9% | +3.0% | +3.8% | |
| Q1 2024 | -7.2% | -9.5% | -19.5% | |
| Q4 2023 | +4.8% | +4.2% | +13.1% | |
| Q3 2023 | -9.5% | -7.7% | -2.8% | |
| Q2 2023 | -4.3% | -2.5% | -4.5% | |
| Q1 2023 | +1.7% | -4.0% | -2.9% | |
| Q4 2022 | +7.9% | +6.6% | -3.5% | |
| Q3 2022 | +10.0% | +11.9% | +10.8% | |
| Q2 2022 | -2.4% | -1.6% | -5.8% | |
| Q1 2022 | +1.3% | +1.3% | +3.1% | |
| Q4 2021 | +2.9% | +4.7% | -2.7% | |
| Q3 2021 | -18.7% | -21.9% | -28.4% | |
| Q2 2021 | -6.5% | -10.1% | -9.2% | |
| Q1 2021 | -9.5% | -9.9% | -13.6% | |
| Q4 2020 | -5.2% | -6.9% | -4.4% | |
| Q3 2020 | -5.3% | +0.1% | +35.9% | |
| Q2 2020 | -7.0% | -5.4% | -3.7% | |
| Q1 2020 | +2.7% | -3.2% | +35.4% | |
| Q4 2019 | +5.4% | +4.6% | -38.4% | |
| Q3 2019 | -5.5% | -4.4% | -1.3% | |
| Q2 2019 | -7.3% | -11.4% | -6.2% | |
| Q1 2019 | +0.1% | -2.9% | -9.2% | |
| Q4 2018 | +2.6% | -0.2% | +8.7% | |
| Q3 2018 | +4.1% | +0.8% | -7.6% | |
| Q2 2018 | -1.7% | -0.9% | -0.3% | |
| Q1 2018 | +4.5% | +5.5% | +10.2% | |
| Q4 2017 | +8.8% | +8.5% | +6.9% | |
| Q3 2017 | -0.5% | -0.9% | +2.7% | |
| Q2 2017 | -2.1% | -5.4% | -6.3% | |
| Q1 2017 | -5.0% | -7.1% | -3.2% | |
| Q4 2016 | -6.6% | -6.9% | -10.7% | |
| Q3 2016 | +6.6% | +0.1% | +3.0% | |
| Q2 2016 | -1.4% | -4.6% | +2.9% | |
| Q1 2016 | +4.1% | — | — | |
| Q4 2015 | -11.9% | — | — | |
| Q3 2015 | -3.4% | — | — | |
| Q2 2015 | -4.9% | — | — | |
| Q1 2015 | -0.4% | — | — | |
| Q4 2014 | +0.7% | — | — | |
| Q3 2014 | +3.0% | — | — | |
| Q2 2014 | +2.7% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | +5.3% | — | — | |
| Q3 2013 | +6.9% | — | — | |
| Q2 2013 | +4.6% | — | — | |
| Q1 2013 | -9.3% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | +2.8% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q1 2012 | +0.7% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q2 2011 | -4.1% | — | — | |
| Q1 2010 | -1.8% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2008 | -2.4% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q3 2009 | -2.6% | — | — | |
| Q3 2010 | -2.6% | — | — | |
| Q2 2009 | -5.0% | — | — | |
| Q4 2009 | -5.0% | — | — | |
| Q2 2010 | -5.0% | — | — |
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