“In the third quarter, we again demonstrated our ability to … WEX Inc. Reports Fourth Quarter and Full Year 2017 Financial Results Contacts News Media: WEX Inc. Jessica Roy, 207-523-6763 Jessica.Roy@wexinc.com or Investors: WEX Inc. Steve Elder, 207-523 … We are well-positioned to gain additional market share in 2020 as we continue to execute against our strategic pillars and create shareholder value.”, “WEX delivered strong fiscal year results with fourth quarter adjusted earnings at the top-end of our guidance, despite a number of macroeconomic headwinds,” said Roberto Simon, WEX’s Chief Financial Officer. WEX Inc. (WEX Quick Quote WEX - Free Report) reported strong fourth-quarter 2018 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate. 03:23PM : WEX… Información sobre tu dispositivo y conexión a Internet, incluida tu dirección IP, Actividad de navegación y búsqueda al utilizar sitios web y aplicaciones de Verizon Media. A WEX customer, Tenet Health, is a healthcare services company based in Dallas, Texas providing essential services during this pandemic. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months ended September 30, 2020. Payment processing gallons of fuel represents the total number of gallons of fuel purchased by fleets that have a payment processing relationship with WEX. For the full year 2019, revenue increased 15% to $1.72 billion from $1.49 billion in 2018.Net income attributable to shareholders on a GAAP basis was $2.26 per diluted share in 2019 compared to $3.86 per diluted share in 2018. Para obtener más información sobre cómo utilizamos tu información, consulta nuestra Política de privacidad y la Política de cookies. Net foreign currency gains and losses primarily result from the remeasurement to functional currency of cash, accounts receivable and accounts payable balances, certain intercompany notes denominated in foreign currencies and any gain or loss on foreign currency hedges relating to these items. For the portions of our business that earn revenue based on margin spreads, revenue was calculated utilizing the comparable margin from the prior year. WEX Inc. Reports Fourth Quarter and Full Year 2019 Financial Results PORTLAND, Maine--(BUSINESS WIRE)--February 13, 2020--WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results … When used in this earnings release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Stock-based compensation is different from other forms of compensation as it is a non-cash expense. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations. The table below shows the impact of certain macro factors on adjusted net income: To determine the estimated earnings impact of FX on revenue and expenses from entities whose functional currency is not denominated in U.S. dollars, as well as revenue and variable expenses from purchase volume transacted in non-U.S. denominated currencies, were translated using the weighted average exchange rates for the same period in the prior year, net of tax. Global Investor Relations, WEX Inc. Reports Fourth Quarter and Full Year 2019 Financial Results, https://www.businesswire.com/news/home/20200213005178/en/, New WEX Story Unleashes Power for our Customers. Due … The Company's non-GAAP adjusted net income excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, restructuring and other costs, impairment charges, debt restructuring and debt issuance cost amortization, non-cash adjustments related to the tax receivable agreement, similar adjustments attributable to our non-controlling interests and certain tax related items. The table below shows the impact of certain macro factors on reported revenue: To determine the impact of foreign exchange translation (“FX”) on revenue, revenue from entities whose functional currency is not denominated in U.S. dollars, as well as revenue from purchase volume transacted in non-U.S. denominated currencies, were translated using the weighted average exchange rates for the same period in the prior year, exclusive of revenues derived from 2019 acquisitions. Management uses the non-GAAP measures presented within this news release to evaluate the Company's performance on a comparable basis. However, because adjusted net income, adjusted operating income and total segment adjusted operating income are non-GAAP measures, they should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. First quarter and full year 2020 guidance is based on an assumed average U.S. retail fuel price of $2.69 and $2.70 per gallon, respectively. WEX's (WEX) CEO Melissa Smith on Q3 2019 Results - Earnings Call Transcript. WEX CEO Melissa Smith said that “2019 was another record year for WEX, capped off by an impressive fourth quarter driven by double-digit top-line growth and strong operating leverage.” WEX reported a … The Company's non-GAAP adjusted operating income excludes acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, restructuring and other costs, debt restructuring costs and impairment charges. Debt restructuring and debt issuance cost amortization are unrelated to the continuing operations of the Company. “Good organic growth coupled with solid returns from our strategic acquisitions are proof of the extraordinary progress we’ve made in 2019. In addition, adjusted net income, adjusted operating income and total segment adjusted operating income as used by WEX may not be comparable to similarly titled measures employed by other companies. Investor contact: Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. WEX fleet cards offer 14.9 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions grew to $39.6 billion in 2019; and the WEX Health financial technology platform helps 390,000 employers and 31.8 million consumers better manage healthcare expenses. They called WEX on Sunday, March 22, looking for help. Our guidance also assumes that fleet credit loss for the first quarter will be in the range of 15 to 20 basis points and the full year will be in the range of 13 to 18 basis points. See Exhibit 1 for a reconciliation of GAAP operating income to total segment adjusted operating income. The live conference call also can be accessed by dialing 866-334-7066 or 973-935-8463. For the portions of our business that earn revenue based on margin spreads, revenue was adjusted to the comparable margin from the prior year, net of non-controlling interest and applicable taxes. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a stock-based compensation valuation methodology and underlying assumptions that may vary over time. The Conference ID number is 1968236. To determine the estimated earnings impact of PPG, revenue and certain variable expenses impacted by changes in fuel prices, were adjusted based on the average retail price of fuel for the same period in the prior year for the portion of our business that earns revenue based on a percentage of fuel spend, net of applicable taxes. Jessica.Roy@wexinc.com Average number of Health and Employee Benefit Solutions accounts represents the number of active Consumer Directed Health, COBRA, and billing accounts on our SaaS platforms in the United States. View source version on businesswire.com: https://www.businesswire.com/news/home/20200213005178/en/, News media contact: WEX CEO Melissa Smith said that "2019 was another record year for WEX, capped off by an impressive fourth quarter driven by double-digit top-line growth and strong operating leverage." On a non-GAAP basis, adjusted net income per diluted share increased 11% to $9.20 from $8.28 in 2018. Total fuel transactions processed increased 12% from the fourth quarter of 2018 to 156.0 million. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months ended June 30, 2020. See Exhibit 1 for a full explanation and reconciliation of adjusted net income attributable to shareholders and adjusted net income attributable to shareholders per diluted share to the comparable GAAP measures. or A replay of the webcast and the accompanying slides will be available on the Company's website. Specifically, in addition to evaluating the Company's performance on a GAAP basis, management evaluates the Company's performance on a basis that excludes the above items because: For the same reasons, WEX believes that adjusted net income, adjusted operating income and total segment adjusted operating income may also be useful to investors when evaluating the Company's performance. ", Smith continued, “Our strong performance in 2019 is due to WEX’s commitment to generating sustainable long-term growth, reflected in the customer volume ramp, successful integration of Noventis, Discovery Benefits and Go Fuel Card, strong execution in our Shell and Chevron portfolios, and a great contribution from the U.S. Health business. Payment processing transactions increased 9% to 126.7 million. The quarterly results … In conjunction with this announcement, WEX will host a conference call today at 9:00 a.m. (ET). Net late fee rate represents late fee revenue as a percentage of fuel purchased by fleets that have a payment processing relationship with WEX. Fourth Quarter and Full Year 2019 Financial Results. This guidance does not include any impacts from the recently announced acquisition of eNett and Optal. The Company is also providing segment revenue for the three and twelve months ended December 31, 2019 and 2018 in Exhibit 4 and information regarding segment adjusted operating income margin and adjusted operating income margin in Exhibit 5. The business services provider reported $1.59 EPS for the quarter, missing the consensus … Travel and Corporate Solutions' purchase volume grew 17% to. Net income attributable to shareholders per share: Weighted average common shares outstanding: 1 Fleet segment payment processing revenue and sales and marketing expenses for the 4th quarter of 2019 includes a $20.9 million reduction to properly reflect fleet segment revenue and expenses. Puedes cambiar tus opciones en cualquier momento visitando Tus controles de privacidad. Debt restructuring costs are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. Total revenue for the fourth quarter of 2019 increased 15% to $440.0 million from $381.2 million for the fourth quarter of 2018. We delivered earnings results at the top end of our guidance range for Q4. The Company does not allocate certain corporate expenses to our operating segments, as these items are centrally controlled and are not directly attributable to any reportable segment. The Company believes that excluding acquisition-related costs and gains or losses of divestitures facilitates the comparison of our financial results to the Company's historical operating results and to other companies in our industry. $14.3 million of this amount relates to Q1-Q3 of 2019. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including: the effects of general economic conditions on fueling patterns as well as payment and transaction processing activity; the impact of foreign currency exchange rates on the Company’s operations, revenue and income; changes in interest rates; the impact of fluctuations in fuel prices; the effects of the Company’s business expansion and acquisition efforts; potential adverse changes to business or employee relationships, including those resulting from the completion of an acquisition; competitive responses to any acquisitions; uncertainty of the expected financial performance of the combined operations following completion of an acquisition; the failure to successfully integrate the Company's acquisitions; the ability to realize anticipated synergies and cost savings; unexpected costs, charges or expenses resulting from an acquisition; the Company's ability to successfully acquire, integrate, operate and expand commercial fuel card programs; the failure of corporate investments to result in anticipated strategic value; the impact and size of credit losses; the impact of changes to the Company's credit standards; breaches of the Company’s technology systems or those of the Company's third-party service providers and any resulting negative impact on the Company's reputation, liabilities or relationships with customers or merchants; the Company’s failure to maintain or renew key commercial agreements; failure to expand the Company’s technological capabilities and service offerings as rapidly as the Company’s competitors; failure to successfully implement the Company's information technology strategies and capabilities in connection with its technology outsourcing and insourcing arrangements and any resulting cost associated with that failure; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Company’s industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the impact of the material weaknesses first disclosed in Item 9A of the Company's Annual Report for the year ended December 31, 2018 filed on Form 10-K with the Securities and Exchange Commission on March 18, 2019 and the effects of the Company's investigation and remediation efforts in connection with certain immaterial errors in the financial statements of our Brazilian subsidiary; the impact of the Company’s outstanding notes on its operations; the impact of increased leverage on the Company's operations, results or borrowing capacity generally, and as a result of acquisitions specifically; the incurrence of impairment charges if our assessment of the fair value of certain of our reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of our Annual Report for the year ended December 31, 2018, filed on Form 10-K with the Securities and Exchange Commission on March 18, 2019. Wex Inc. (NYSE: WEX) on Thursday reported third-quarter revenue of $382.1 million, down 17% from $460 million in Q3 2019, and adjusted earnings per share (EPA) of $1.59. WEX Inc. “The fourth quarter built upon the momentum from earlier in the year, marked by robust transaction volume growth, strong performance from acquisitions, significant contribution from our previous contract signings and meaningful new contract wins. We remain committed to providing best-in-class technologies and capabilities to our customers and focused on driving innovation across our segments. Net payment processing rate represents the percentage of the dollar value of each payment processing transaction that WEX records as revenue from merchants less certain discounts given to customers and network fees. The Company's adjusted net income attributable to shareholders, which is a non-GAAP measure, was $114.7 million for the fourth quarter of 2019, or $2.61 per diluted share, up 24% from $91.8 million, or $2.11 per diluted share, for the same period last year. (1) Adjusted operating income margin is derived by dividing adjusted operating income by total revenue. WEX Inc. to Release Fourth Quarter and Full Year 2019 Financial Results on February 13, 2020. Business Wire. The $58.8 million increase in the quarter includes an $8.7 million negative impact from lower average fuel prices and foreign exchange rates. For the fourth quarter of 2019, WEX expects revenue in the range of $452 million to $462 million and adjusted net income in the range of $110 million to $114 million, or $2.51 to $2.61 per … WEX Inc. 2019 Q4 - Results - Earnings Call Presentation. Fourth Quarter and Full Year 2019 Financial Results. WEX Inc. 2019 Q4 - Results - Earnings Call Presentation. The Company's financial results… Exclusion of the non-cash, mark-to-market adjustments on financial instruments, including interest rate swap agreements and investment securities, helps management identify and assess trends in the Company's underlying business that might otherwise be obscured due to quarterly non-cash earnings fluctuations associated with these financial instruments. To provide investors with additional insight into its operational performance, WEX has included in this news release in Exhibit 1, a reconciliation of non-GAAP measures referenced in this news release, in Exhibit 2, a table illustrating the impact of foreign currency rates and fuel prices for each of our reportable segments for the three and twelve months ended December 31, 2019 and 2018, and in Exhibit 3, a table of selected non-financial metrics for the quarter ended December 31, 2019 and four preceding quarters. Steve Elder, 207-523-7769 WEX Inc. WEX reported mixed fourth-quarter 2019 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same. WEX Inc. (NYSE:WEX) Q4 2019 Earnings Conference Call February 13, 2020, 9:00 AM ET Company Participants Steve Elder - Investor Relations Melissa Smith - President and Chief Executive … Nosotros y nuestros socios almacenaremos y/o accederemos a la información de tu dispositivo mediante el uso de cookies y tecnologías similares, a fin de mostrar anuncios y contenido personalizados, evaluar anuncios y contenido, obtener datos sobre la audiencia y desarrollar el producto. Segment Adjusted Operating Income and Adjusted Operating Income Margin Information, Segment Adjusted Operating Income Margin(1). WEX Inc. Reports Fourth Quarter and Full Year 2019 Financial Results WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three … "2019 was another record year for WEX, capped off by an impressive fourth quarter driven by double-digit top-line growth and strong operating leverage.” said Melissa Smith, WEX’s Chair and Chief Executive Officer. Purchase volume in the Health and Employee Benefit Solutions segment represents the total US dollar value of all transactions where interchange is earned by WEX. Senior Vice President, Global Investor Relations Steve.Elder@wexinc.com 207-523-7769. The Company's forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, disposition or stock repurchases. The Company believes that excluding these nonrecurring expenses facilitates the comparison of our financial results to the Company's historical operating results and to other companies in its industry. Selected Non-Financial Metrics, Payment processing gallons of fuel (000s), Payment solutions processing revenue (000s). Revenue grew 15% to $440 million compared to last year driven by another quarter of very strong growth in our Travel … PORTLAND, Maine--(BUSINESS WIRE)--Feb. 13, 2020-- 8 Company Results - Full Year 2019 (In thousands except per share data) 2019 2018 $ ∆ Yr/Yr % ∆ Yr/Yr … For more information, visit www.wexinc.com. WEX operates in more than 10 countries and in more than 20 currencies through more than 5,000 associates around the world. The fuel prices referenced above are based on the applicable NYMEX futures price from the week of February 3, 2020. The Company considers these measures integral because they exclude the above specified items that the Company's management excludes in evaluating the Company's performance. The $58.8 million … WEX Inc.(NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months and year ended December 31, 2019. Feb. 13, 2020 2:17 PM ET | | About: WEX Inc. (WEX) by: SA Transcripts. Payment processing dollars of fuel represents the total dollar value of the fuel purchased by fleets that have a payment processing relationship with WEX. Impairment charges represent non-cash asset write-offs, which do not reflect recurring costs that would be relevant to the Company's continuing operations. WEX Fourth Quarter 2019 Earnings ... WEX Full Year and Fourth Quarter 2019 Financial Results. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months and year ended December 31, 2019. Para permitir a Verizon Media y a nuestros socios procesar tus datos personales, selecciona 'Acepto' o selecciona 'Gestionar ajustes' para obtener más información y para gestionar tus opciones, entre ellas, oponerte a que los socios procesen tus datos personales para sus propios intereses legítimos. Net income attributable to shareholders on a GAAP basis for the fourth quarter increased by $33.2 million to $54.4 million, or $1.24 per diluted share, compared with $21.3 million, or $0.49 per diluted share for the same period a year ago. Exhibit 3 For example, a cash salary generally has a fixed and unvarying cash cost. Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. Late fee revenue represents fees charged for payments not made within the terms of the customer agreement based upon the outstanding customer receivable balance. This earnings release contains forward-looking statements, including statements regarding: financial guidance; assumptions underlying the Company's financial guidance; future growth opportunities and expectations; expectations for the macro environment; and, anticipated volumes. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months ended September 30, 2020. Securitized accounts receivable, restricted, Prepaid expenses and other current assets, Property, equipment and capitalized software, Total liabilities and stockholders’ equity, Reconciliation of GAAP Net Income Attributable to Shareholders to Adjusted Net Income Attributable to Shareholders, (in thousands, except per share data) (unaudited), Unrealized (gains) losses on financial instruments, Acquisition-related intangible amortization, Other acquisition and divestiture related items, Debt restructuring and debt issuance cost amortization, ANI adjustments attributable to non-controlling interest, Adjusted net income attributable to shareholders, Unrealized losses (gains) on financial instruments, ANI adjustments attributable to non-controlling interests, Reconciliaton of GAAP Operating Income to Total Segment Adjusted Operating Income and Adjusted Operating Income. Adjusted … We are unable to reconcile our adjusted net income guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including, but not limited to, foreign currency exchange rates, unrealized gains and losses on financial instruments, acquisition and divestiture related items and adjustments to the redemption value of a non-controlling interest, which may have a significant impact on our financial results. … Now let 's move to the Q4 Results in operating Results between periods that might be! 2019 Q4 - Results - earnings Call Transcript consulta nuestra Política de cookies exclusion these. Exhibit 3 Selected Non-Financial Metrics, payment solutions processing revenue ( 000s ), payment processing! Posted its quarterly earnings Results on October 29th, 2020 forward-looking statements 's move to the continuing operations Results. The applicable NYMEX futures price from the week of February 3,.. 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