We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Adjusted earnings of $2.58 per share surpassed the Zacks Consensus Estimate by 4.9% and increased 77.9% year over year. Total revenues of $497.5 million surpassed the consensus mark by a slight margin and increased 25% year over year.
WEX’s shares have declined 23% in the past year compared with 21.2% decline of the industry it belongs to.
Quarter Details
Fleet Solutions’ revenues were up 30% year over year to $306.8 million. Travel and Corporate Solutions’ revenues of $81.5 million were up 9% year over year. Health revenues registered 23% year-over-year growth.
Average number of vehicles serviced was 16.9 million, up 7% from the year-ago quarter’s figure. Total fuel transactions processed increased 9% from the year-ago quarter’s tally to 161.7 million. Payment processing transactions were up 12% year over year to 132.9 million.
Travel and Corporate Solutions' purchase volume climbed more than 100% year over year to $10.9 billion. Health and Employee Benefit Solutions' average number of Software-as-a-Service accounts in the U.S. were up 12% to 16.2 million, year over year.
Adjusted operating income margin increased to 37.1% from the year-ago quarter’s 28.8%.
WEX exited the quarter with cash and cash equivalents balance of $588.9 million compared with $533.8 million witnessed at the end of the prior quarter. Long-term debt was $2.7 billion compared with $2.8 billion at the end of the previous quarter.
Guidance
For the first quarter of 2022, WEX anticipates revenues in the range of $495 million to $505 million, the midpoint ($500 million) of which is higher than the current Zacks Consensus Estimate of $496.83 million. Adjusted net income is expected between $2.55 and $2.65 per share, higher than the Zacks Consensus estimate of $2.45.
For full-year 2022, revenues are expected between $2.05 billion and $2.09 billion, the midpoint ($2.07 million) of which is the same as the current Zacks Consensus Estimate. Adjusted net income is expected between $11.2 and $11.6 per share, higher than the Zacks Consensus estimate of $10.8.
Performance of Some Other Business Services Companies
Robert Half International (RHI - Free Report) delivered fourth-quarter 2021 earnings of $1.51 per share that beat the consensus mark by 5.6% and rose 79.8% year over year.
Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis. RHI currently carries a Zacks Rank #1 (Strong Buy).
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
WEX's Q4 Earnings and Revenues Surpass Estimates, Up Y/Y
WEX Inc. (WEX - Free Report) delivered better-than-expected fourth-quarter 2021 results.
Adjusted earnings of $2.58 per share surpassed the Zacks Consensus Estimate by 4.9% and increased 77.9% year over year. Total revenues of $497.5 million surpassed the consensus mark by a slight margin and increased 25% year over year.
WEX’s shares have declined 23% in the past year compared with 21.2% decline of the industry it belongs to.
Quarter Details
Fleet Solutions’ revenues were up 30% year over year to $306.8 million. Travel and Corporate Solutions’ revenues of $81.5 million were up 9% year over year. Health revenues registered 23% year-over-year growth.
Average number of vehicles serviced was 16.9 million, up 7% from the year-ago quarter’s figure. Total fuel transactions processed increased 9% from the year-ago quarter’s tally to 161.7 million. Payment processing transactions were up 12% year over year to 132.9 million.
Travel and Corporate Solutions' purchase volume climbed more than 100% year over year to $10.9 billion. Health and Employee Benefit Solutions' average number of Software-as-a-Service accounts in the U.S. were up 12% to 16.2 million, year over year.
Adjusted operating income margin increased to 37.1% from the year-ago quarter’s 28.8%.
WEX Inc. Price, Consensus and EPS Surprise
WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote
Balance Sheet
WEX exited the quarter with cash and cash equivalents balance of $588.9 million compared with $533.8 million witnessed at the end of the prior quarter. Long-term debt was $2.7 billion compared with $2.8 billion at the end of the previous quarter.
Guidance
For the first quarter of 2022, WEX anticipates revenues in the range of $495 million to $505 million, the midpoint ($500 million) of which is higher than the current Zacks Consensus Estimate of $496.83 million. Adjusted net income is expected between $2.55 and $2.65 per share, higher than the Zacks Consensus estimate of $2.45.
For full-year 2022, revenues are expected between $2.05 billion and $2.09 billion, the midpoint ($2.07 million) of which is the same as the current Zacks Consensus Estimate. Adjusted net income is expected between $11.2 and $11.6 per share, higher than the Zacks Consensus estimate of $10.8.
Currently, WEX carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Performance of Some Other Business Services Companies
Robert Half International (RHI - Free Report) delivered fourth-quarter 2021 earnings of $1.51 per share that beat the consensus mark by 5.6% and rose 79.8% year over year.
Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis. RHI currently carries a Zacks Rank #1 (Strong Buy).
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.