WEX

Amid rise in fuel theft, two companies collaborate to safeguard fleets

Imagine one day, while you are checking a driver’s fuel card statements from the previous month, you notice some suspicious transactions. Someone made purchases in Texas, but you know your driver — who is the only other person besides you with authorized card access — was in Missouri that day.

Somehow, an unknown person got ahold of one of your fuel cards and the personal identification number (PIN) attached to it. The fraudster’s spending spree has racked up thousands of dollars and left you to...

https://www.freightwaves.com/news/amid-rise-in-fuel-theft-two-companies-collaborate-to-safeguard-fleets

Wex reports drop in first quarter revenue and earnings per share

WEX Inc. (NYSE: WEX) reported a 5% year-over-year decline in revenue to $410.8 million during the company’s first-quarter earnings call Thursday.

The company also posted earnings of $1.79 per share, a 1.1% decline compared to earnings of $1.81 per share a year ago. 

The earnings per share and revenue results modestly beat Wall Street expectations, which had predicted earnings of $1.60 per share and revenue of $410.6 million.

Melissa Smith, Wex’s chair and CEO, said the past year was “full of...

https://www.freightwaves.com/news/wex-reports-drop-in-first-quarter-revenue-and-earnings-per-share

WEX reports sharp drops in revenue and earnings during second quarter

WEX Inc. (NYSE: WEX) reported earnings of $1.21 per share, a 46.9% decline compared to earnings of $2.28 per share a year ago, during the company’s earnings call on Thursday, July 31.

The Portland, Maine-based provider of fuel payment processing for fleet vehicles also reported revenues of $347.08 million for the quarter ended June 2020, compared to year-ago revenues of $441.81 million, a 21.4% decline. 

“Our second quarter results reflect the impact of the COVID-19 pandemic and underscore the...

https://s29755.pcdn.co/news/wex-reports-sharp-drops-in-revenue-and-earnings-during-second-quarter

Wex reports first-quarter net loss of $16.3 million and EPS miss

WEX Inc. (NYSE: WEX) said the coronavirus pandemic created an “unprecedented environment” causing business to “slow considerably” in the first quarter.

The company reported adjusted earnings per share (EPS) of $1.81, $0.23 lower than the consensus estimates of $2.04.

“The quarter started off very strong as we expected, but like many other businesses slowed significantly toward the end as the effects of stay home orders and restrictions of non-essential businesses went into place,” said Melissa...

https://www.freightwaves.com/news/wex-reports-first-quarter-net-loss-of-16-3-million-and-eps-miss