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Compared to Estimates, Wex (WEX) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Wex (WEX - Free Report) reported revenue of $651.4 million, up 5.7% over the same period last year. EPS came in at $4.05, compared to $3.51 in the year-ago quarter.
The reported revenue represents a surprise of +1.55% over the Zacks Consensus Estimate of $641.45 million. With the consensus EPS estimate being $3.77, the EPS surprise was +7.43%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 144.6 million compared to the 146.56 million average estimate based on four analysts.
Mobility- Average US fuel price: 3.97 $/gal versus the four-analyst average estimate of 3.75 $/gal.
Corporate Payments - Purchase volume: $27.86 billion versus the three-analyst average estimate of $25.71 billion.
Mobility - Payment processing gallons of fuel: 3,687.2 million versus the three-analyst average estimate of 3,718.11 million.
Revenues- Mobility: $350.10 million versus $350.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.
Revenues- Corporate Payments: $135.20 million versus the six-analyst average estimate of $126 million. The reported number represents a year-over-year change of +18.6%.
Revenues- Benefits: $166.10 million versus the six-analyst average estimate of $161.61 million. The reported number represents a year-over-year change of +33.9%.
Revenues- Mobility- Payment processing: $176.90 million compared to the $172.13 million average estimate based on three analysts. The reported number represents a change of -6.2% year over year.
Revenues- Finance fees: $77.10 million compared to the $84.14 million average estimate based on three analysts. The reported number represents a change of -20.3% year over year.
Revenues- Payment processing: $313.30 million versus the three-analyst average estimate of $308.38 million. The reported number represents a year-over-year change of +1.4%.
Revenues- Other: $99.50 million compared to the $90.76 million average estimate based on three analysts. The reported number represents a change of +38.1% year over year.
Revenues- Corporate Payments- Payment processing: $115.80 million versus $109.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.1% change.
Shares of Wex have returned -7.2% over the past month versus the Zacks S&P 500 composite's -3.4% 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) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Wex (WEX - Free Report) reported revenue of $651.4 million, up 5.7% over the same period last year. EPS came in at $4.05, compared to $3.51 in the year-ago quarter.
The reported revenue represents a surprise of +1.55% over the Zacks Consensus Estimate of $641.45 million. With the consensus EPS estimate being $3.77, the EPS surprise was +7.43%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 144.6 million compared to the 146.56 million average estimate based on four analysts.
- Mobility- Average US fuel price: 3.97 $/gal versus the four-analyst average estimate of 3.75 $/gal.
- Corporate Payments - Purchase volume: $27.86 billion versus the three-analyst average estimate of $25.71 billion.
- Mobility - Payment processing gallons of fuel: 3,687.2 million versus the three-analyst average estimate of 3,718.11 million.
- Revenues- Mobility: $350.10 million versus $350.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.
- Revenues- Corporate Payments: $135.20 million versus the six-analyst average estimate of $126 million. The reported number represents a year-over-year change of +18.6%.
- Revenues- Benefits: $166.10 million versus the six-analyst average estimate of $161.61 million. The reported number represents a year-over-year change of +33.9%.
- Revenues- Mobility- Payment processing: $176.90 million compared to the $172.13 million average estimate based on three analysts. The reported number represents a change of -6.2% year over year.
- Revenues- Finance fees: $77.10 million compared to the $84.14 million average estimate based on three analysts. The reported number represents a change of -20.3% year over year.
- Revenues- Payment processing: $313.30 million versus the three-analyst average estimate of $308.38 million. The reported number represents a year-over-year change of +1.4%.
- Revenues- Other: $99.50 million compared to the $90.76 million average estimate based on three analysts. The reported number represents a change of +38.1% year over year.
- Revenues- Corporate Payments- Payment processing: $115.80 million versus $109.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.1% change.
View all Key Company Metrics for Wex here>>>Shares of Wex have returned -7.2% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.