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Wex (WEX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Wex (WEX - Free Report) reported $673.5 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.4%. EPS of $3.91 for the same period compares to $3.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $677.44 million, representing a surprise of -0.58%. The company delivered an EPS surprise of +2.89%, with the consensus EPS estimate being $3.80.
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:
Mobility - Payment processing transactions: 144.9 million versus the four-analyst average estimate of 143.62 million.
Corporate Payments - Purchase volume: $25.76 billion compared to the $26.06 billion average estimate based on four analysts.
Benefits - Purchase volume: $1.87 billion versus the four-analyst average estimate of $1.90 billion.
Mobility - Average US fuel price: 3.62 $/gal versus 3.69 $/gal estimated by four analysts on average.
Revenues- Corporate Payments: $134.10 million compared to the $131.87 million average estimate based on five analysts. The reported number represents a change of +10% year over year.
Revenues- Benefits: $179.80 million versus the five-analyst average estimate of $184.49 million. The reported number represents a year-over-year change of +12.9%.
Revenues- Mobility: $359.60 million versus $362.24 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
Revenues- Benefits- Payment processing: $24.90 million versus the three-analyst average estimate of $25.26 million. The reported number represents a year-over-year change of +5.5%.
Revenues- Benefits- Account servicing: $108.40 million compared to the $113.06 million average estimate based on three analysts. The reported number represents a change of +6.8% year over year.
Revenues- Benefits- Other: $46.30 million compared to the $46.60 million average estimate based on three analysts. The reported number represents a change of +35.8% year over year.
Revenues- Other: $108.70 million versus the three-analyst average estimate of $114.80 million. The reported number represents a year-over-year change of +18.8%.
Revenues- Payment processing: $359.60 million versus $317.16 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +19.7% change.
Shares of Wex have returned +2.6% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Wex (WEX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Wex (WEX - Free Report) reported $673.5 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 8.4%. EPS of $3.91 for the same period compares to $3.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $677.44 million, representing a surprise of -0.58%. The company delivered an EPS surprise of +2.89%, with the consensus EPS estimate being $3.80.
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:
- Mobility - Payment processing transactions: 144.9 million versus the four-analyst average estimate of 143.62 million.
- Corporate Payments - Purchase volume: $25.76 billion compared to the $26.06 billion average estimate based on four analysts.
- Benefits - Purchase volume: $1.87 billion versus the four-analyst average estimate of $1.90 billion.
- Mobility - Average US fuel price: 3.62 $/gal versus 3.69 $/gal estimated by four analysts on average.
- Revenues- Corporate Payments: $134.10 million compared to the $131.87 million average estimate based on five analysts. The reported number represents a change of +10% year over year.
- Revenues- Benefits: $179.80 million versus the five-analyst average estimate of $184.49 million. The reported number represents a year-over-year change of +12.9%.
- Revenues- Mobility: $359.60 million versus $362.24 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
- Revenues- Benefits- Payment processing: $24.90 million versus the three-analyst average estimate of $25.26 million. The reported number represents a year-over-year change of +5.5%.
- Revenues- Benefits- Account servicing: $108.40 million compared to the $113.06 million average estimate based on three analysts. The reported number represents a change of +6.8% year over year.
- Revenues- Benefits- Other: $46.30 million compared to the $46.60 million average estimate based on three analysts. The reported number represents a change of +35.8% year over year.
- Revenues- Other: $108.70 million versus the three-analyst average estimate of $114.80 million. The reported number represents a year-over-year change of +18.8%.
- Revenues- Payment processing: $359.60 million versus $317.16 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +19.7% change.
View all Key Company Metrics for Wex here>>>Shares of Wex have returned +2.6% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.