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The company has had a decent earnings surprise history, outperforming the Zacks Consensus Estimate in all the trailing four quarters, with an average surprise of 6.1%.
The Zacks Consensus Estimate for the top line in the to-be-reported quarter is currently pegged at $603 million, indicating an increase of 16.5% from the year-ago actual figure. The expected increase is likely to have been driven by segmental strength.
Revenues from fleet solutions are expected to go up by 9.4%, the Zacks Consensus Estimate for which is pegged at $349 million. The expected growth is likely to have been due to strong volumes from new customer wins and renewals. The consensus mark for revenues from the Travel and Corporate solution stands at $101 million, indicating 31.2% year-over-year growth, owing to high consumer travel demand.
The consensus mark for Health and Employee Benefit Solutions’ revenues stands at $153 million, indicating year-over-year growth of 26.4%. The expected increase is likely to have been driven by a rise in spending volumes, account growth, an increased number of participants on the SaaS platform and the benefitexpress acquisition.
The bottom line is expected to have been positively impacted by a better operating performance. The Zacks Consensus Estimate for EPS is pegged at $3.2, which is 11.1% more than the year-ago actual figure.
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. But that’s not the case here. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
WEX has an Earnings ESP of -0.35% and a Zacks Rank of 3.
Here are a few stocks from the broader Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season.
Charles River Associates (CRAI - Free Report) currently has an Earnings ESP of +2.63% and a Zacks Rank of 3.
It is scheduled to report its first-quarter 2023 results on May 4, before market open.
The Zacks Consensus Estimate for the bottom line is pegged at $1.33 per share, down 13.1% from the year-ago figure. The consensus mark for revenues is pegged at $152.6 million, up 2.8% from the figure reported a year ago. CRAI deliverd an average surprise of 19.8% for the previous four quarters.
Waste Management (WM - Free Report) currently has an Earnings ESP of +0.63% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on Apr 26, after market close.
The Zacks Consensus Estimate for earnings is pegged at $1.27 per share, down 1.6% from the year-ago figure. The consensus mark for revenues is pegged at $4.84 billion, up 3.9% from the prior-year figure. WM had an average surprise of 4.7% in the previous four quarters.
Avis Budget (CAR - Free Report) currently has an Earnings ESP of +24.29% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on May 1, after market close.
The Zacks Consensus Estimate for earnings is pegged at $3.27 per share, down 67.3% from the year-ago figure. The consensus mark for revenues is pegged at $2.5 billion, up 2.9% from the prior-year figure. CAR had an average surprise of 78% in the previous four quarters.
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WEX Gears Up to Release Q1 Earnings: Here's What to Expect
WEX (WEX - Free Report) is scheduled to release its first-quarter 2023 results on Apr 27, before the bell.
The company has had a decent earnings surprise history, outperforming the Zacks Consensus Estimate in all the trailing four quarters, with an average surprise of 6.1%.
WEX Inc. Price and EPS Surprise
WEX Inc. price-eps-surprise | WEX Inc. Quote
Q1 Expectations
The Zacks Consensus Estimate for the top line in the to-be-reported quarter is currently pegged at $603 million, indicating an increase of 16.5% from the year-ago actual figure. The expected increase is likely to have been driven by segmental strength.
Revenues from fleet solutions are expected to go up by 9.4%, the Zacks Consensus Estimate for which is pegged at $349 million. The expected growth is likely to have been due to strong volumes from new customer wins and renewals. The consensus mark for revenues from the Travel and Corporate solution stands at $101 million, indicating 31.2% year-over-year growth, owing to high consumer travel demand.
The consensus mark for Health and Employee Benefit Solutions’ revenues stands at $153 million, indicating year-over-year growth of 26.4%. The expected increase is likely to have been driven by a rise in spending volumes, account growth, an increased number of participants on the SaaS platform and the benefitexpress acquisition.
The bottom line is expected to have been positively impacted by a better operating performance. The Zacks Consensus Estimate for EPS is pegged at $3.2, which is 11.1% more than the year-ago actual figure.
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. But that’s not the case here. You can uncover the best stocks before they're reported with our Earnings ESP Filter.
WEX has an Earnings ESP of -0.35% and a Zacks Rank of 3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks That Warrant a Look
Here are a few stocks from the broader Business Services sector, which according to our model, have the right combination of elements to beat on earnings this season.
Charles River Associates (CRAI - Free Report) currently has an Earnings ESP of +2.63% and a Zacks Rank of 3.
It is scheduled to report its first-quarter 2023 results on May 4, before market open.
The Zacks Consensus Estimate for the bottom line is pegged at $1.33 per share, down 13.1% from the year-ago figure. The consensus mark for revenues is pegged at $152.6 million, up 2.8% from the figure reported a year ago. CRAI deliverd an average surprise of 19.8% for the previous four quarters.
Waste Management (WM - Free Report) currently has an Earnings ESP of +0.63% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on Apr 26, after market close.
The Zacks Consensus Estimate for earnings is pegged at $1.27 per share, down 1.6% from the year-ago figure. The consensus mark for revenues is pegged at $4.84 billion, up 3.9% from the prior-year figure. WM had an average surprise of 4.7% in the previous four quarters.
Avis Budget (CAR - Free Report) currently has an Earnings ESP of +24.29% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on May 1, after market close.
The Zacks Consensus Estimate for earnings is pegged at $3.27 per share, down 67.3% from the year-ago figure. The consensus mark for revenues is pegged at $2.5 billion, up 2.9% from the prior-year figure. CAR had an average surprise of 78% in the previous four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.