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Compared to Estimates, Wex (WEX) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Wex (WEX - Free Report) reported revenue of $621.3 million, up 3.9% over the same period last year. EPS came in at $3.63, compared to $3.71 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $620.63 million, representing a surprise of +0.11%. The company delivered an EPS surprise of +3.42%, with the consensus EPS estimate being $3.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Wex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Fleet Solutions - Average US fuel price: 3.68 $/gal versus 3.85 $/gal estimated by four analysts on average.
Fleet Solutions - Payment processing gallons of fuel: 3664.5 million versus 3741.68 million estimated by three analysts on average.
Travel and Corporate Solutions - Purchase volume: $22.90 billion versus $22.80 billion estimated by three analysts on average.
Fleet Solutions - Payment processing $ of fuel: 13779.8 million compared to the 15660.88 million average estimate based on three analysts.
Revenues- Fleet Solutions: $340.20 million versus the six-analyst average estimate of $350.16 million. The reported number represents a year-over-year change of -10.3%.
Revenues- Travel and Corporate Solutions: $121.90 million compared to the $114.18 million average estimate based on six analysts. The reported number represents a change of +21.4% year over year.
Revenues- Health and Employee Benefit Solutions: $159.20 million versus the six-analyst average estimate of $156.10 million. The reported number represents a year-over-year change of +34.2%.
Revenues- Finance fees: $76.40 million versus $88.21 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.4% change.
Revenues- Account servicing: $152.90 million compared to the $156.26 million average estimate based on three analysts. The reported number represents a change of +11.1% year over year.
Revenues- Payment processing: $300.50 million compared to the $295.44 million average estimate based on three analysts. The reported number represents a change of -3.8% year over year.
Revenues- Travel and Corporate Solutions- Payment processing: $104.80 million versus the three-analyst average estimate of $96.67 million. The reported number represents a year-over-year change of +18.3%.
Revenues- Other: $91.50 million versus $79.85 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +45.3% change.
Shares of Wex have returned +10.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Wex (WEX) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Wex (WEX - Free Report) reported revenue of $621.3 million, up 3.9% over the same period last year. EPS came in at $3.63, compared to $3.71 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $620.63 million, representing a surprise of +0.11%. The company delivered an EPS surprise of +3.42%, with the consensus EPS estimate being $3.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Wex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Fleet Solutions - Average US fuel price: 3.68 $/gal versus 3.85 $/gal estimated by four analysts on average.
- Fleet Solutions - Payment processing gallons of fuel: 3664.5 million versus 3741.68 million estimated by three analysts on average.
- Travel and Corporate Solutions - Purchase volume: $22.90 billion versus $22.80 billion estimated by three analysts on average.
- Fleet Solutions - Payment processing $ of fuel: 13779.8 million compared to the 15660.88 million average estimate based on three analysts.
- Revenues- Fleet Solutions: $340.20 million versus the six-analyst average estimate of $350.16 million. The reported number represents a year-over-year change of -10.3%.
- Revenues- Travel and Corporate Solutions: $121.90 million compared to the $114.18 million average estimate based on six analysts. The reported number represents a change of +21.4% year over year.
- Revenues- Health and Employee Benefit Solutions: $159.20 million versus the six-analyst average estimate of $156.10 million. The reported number represents a year-over-year change of +34.2%.
- Revenues- Finance fees: $76.40 million versus $88.21 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.4% change.
- Revenues- Account servicing: $152.90 million compared to the $156.26 million average estimate based on three analysts. The reported number represents a change of +11.1% year over year.
- Revenues- Payment processing: $300.50 million compared to the $295.44 million average estimate based on three analysts. The reported number represents a change of -3.8% year over year.
- Revenues- Travel and Corporate Solutions- Payment processing: $104.80 million versus the three-analyst average estimate of $96.67 million. The reported number represents a year-over-year change of +18.3%.
- Revenues- Other: $91.50 million versus $79.85 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +45.3% change.
View all Key Company Metrics for Wex here>>>Shares of Wex have returned +10.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.