WEX Q1 revenue rises on Corporate Payments unit growth

WEX

22/04/2026 21:46

Overview

Global payments solutions provider's Q1 revenue rose 5.8%, beating analyst expectations

Adjusted net income per diluted share rose 18.2% year-over-year

Company raised full-year 2026 revenue and adjusted net income guidance

Outlook

WEX raises full-year 2026 revenue guidance to $2.82 bln-$2.88 bln

Company expects full-year 2026 adj net income of $18.95-$19.55 per diluted share

WEX sees Q2 2026 revenue of $727 mln-$747 mln and adj net income of $4.93-$5.13 per share

Result Drivers

SEGMENT GROWTH - Revenue gains were led by 9.3% growth in Corporate Payments and 8.5% growth in Benefits segments, while Mobility segment revenue rose 3.2%

FUEL PRICE AND FX IMPACTS - Revenue was favorably impacted by $5.5 mln from U.S. fuel prices and $5.1 mln from foreign exchange rates, but offset by a $7.6 mln negative impact from international fuel price spreads internationally

AI AND OPERATIONAL EFFICIENCY - Ongoing integration of AI into operations and product development aimed at accelerating efficiency and improving payment workflows, per CEO Melissa Smith

Company press release: ID:nBw9qgRkla

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$673.80 mln
$667.08 mln (12 Analysts)
Q1 EPS
$2.22
Q1 Net Income
$77.70 mln
Q1 Operating Income
$158.20 mln
Q1 Pretax Profit
$108.50 mln
Q1 Provision for Credit Losses
$29.30 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the business support services peer group is "buy."

Wall Street's median 12-month price target for WEX Inc is $173.00, about 2.6% below its April 21 closing price of $177.53

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)