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WEX Readies to Report Q2 Earnings: What's in the Offing?
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WEX Inc. (WEX - Free Report) will report second-quarter 2020 results on Jul 30, before market open.
Let's discuss how things are shaped prior to the announcement.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter revenues is pegged at $352.8 million, which indicates a decline of 20.1% from the year-ago quarter’s reported figure. Weak travel and feet volumes due to restrictions on travel and business are likely to have put pressure on the top line in the to-be-reported quarter.
The Zacks Consensus Estimate for Fleet Solutions revenues (likely to contribute significant portion of the top line) suggests a year-over-year fall of 15.7%. Also, the consensus mark for travel and corporate solutions revenue indicates a fall of 43.9% from the prior-year quarter’s reported figure.
In the first quarter, WEX reported revenues of $431.7 million, up 13% year over year.
The Zacks Consensus Estimate for earnings in the to-be-reported quarter is pegged at $1.42, which calls for a decline of 37.7% from the year-ago quarter’s reported figure. The downside is likely to have been caused by high fuel prices.
WEX’s first-quarter earnings of $1.81 per share increased 5.2% year over year.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for WEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
WEX has an Earnings ESP of -4.56% and a Zacks Rank #3.
Stocks to Consider
Here are some stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings.
Aptiv (APTV - Free Report) has an Earnings ESP of +7.02% and a Zacks Rank #3.
Waste Connections (WCN - Free Report) has an Earnings ESP of +6.29% and a Zacks Rank #3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
WEX Readies to Report Q2 Earnings: What's in the Offing?
WEX Inc. (WEX - Free Report) will report second-quarter 2020 results on Jul 30, before market open.
Let's discuss how things are shaped prior to the announcement.
Q2 Expectations
The Zacks Consensus Estimate for second-quarter revenues is pegged at $352.8 million, which indicates a decline of 20.1% from the year-ago quarter’s reported figure. Weak travel and feet volumes due to restrictions on travel and business are likely to have put pressure on the top line in the to-be-reported quarter.
The Zacks Consensus Estimate for Fleet Solutions revenues (likely to contribute significant portion of the top line) suggests a year-over-year fall of 15.7%. Also, the consensus mark for travel and corporate solutions revenue indicates a fall of 43.9% from the prior-year quarter’s reported figure.
In the first quarter, WEX reported revenues of $431.7 million, up 13% year over year.
The Zacks Consensus Estimate for earnings in the to-be-reported quarter is pegged at $1.42, which calls for a decline of 37.7% from the year-ago quarter’s reported figure. The downside is likely to have been caused by high fuel prices.
WEX Inc. Price and EPS Surprise
WEX Inc. price-eps-surprise | WEX Inc. Quote
WEX’s first-quarter earnings of $1.81 per share increased 5.2% year over year.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for WEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
WEX has an Earnings ESP of -4.56% and a Zacks Rank #3.
Stocks to Consider
Here are some stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings.
Republic Services (RSG - Free Report) has an Earnings ESP of +6.49% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Aptiv (APTV - Free Report) has an Earnings ESP of +7.02% and a Zacks Rank #3.
Waste Connections (WCN - Free Report) has an Earnings ESP of +6.29% and a Zacks Rank #3.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>