WEX slumps after downbeat annual outlook
06/02/2025 18:15
** Shares of fintech firm WEX WEX.N slump 19.9% to $149.64
** WEX late Wednesday forecast its 2025 adjusted profit
between $14.65 and $15.25/shr, below Wall Street expectations of
$16.79 - data compiled by LSEG
** Company's annual revenue forecast of $2.60 bln to $2.66
bln also fell short of estimates of $2.71 bln
** WEX's markets have evolved such that it no longer
possesses a competitive advantage in the non-mobility segments,
brokerage William Blair says
** Adds that WEX's recent challenges and dour outlook could
attract an activist investor who might seek management and
business portfolio changes
** WEX stock slipped 9.9% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))