WEX Inc.
WEXWEX Inc. is a global provider of financial and business solutions, primarily serving the commercial and government sectors. The company specializes in fleet and corporate payment solutions, offering programs for fuel, corporate travel, and toll management. WEX delivers technology-driven payment processing services that help organizations optimize spending, improve efficiencies, and enhance security across their payment ecosystems. Founded in 1983, WEX has grown into a key player in the payments industry with a broad international presence.
Company News
Wex reported Q2 2025 earnings with adjusted EPS of $3.95, beating analyst expectations. The company experienced revenue decline and margin compression, with the Benefits segment showing resilience while Mobility and Corporate Payments segments faced challenges.
Impactive Capital, a major shareholder of WEX Inc., plans to vote against three directors at the 2025 annual meeting, citing the company's long-term underperformance and the need for fresh perspectives and stronger shareholder representation on the board.
Motiv Electric Trucks, a leading manufacturer of medium-duty electric trucks and buses, has appointed Vince Mariano as the new head of Corporate Strategy and Development. Mariano brings over a decade of experience in EV charging, fleet management, and business consulting, and will focus on developing new initiatives to make fleet electrification ...
Wex, a financial technology company, reported Q3 2024 revenue that fell short of management's guidance due to a decline in fuel prices. This resulted in a 14% drop in Wex's stock price. However, the company's profit margins remained strong, and management is actively repurchasing shares, which could benefit long-term shareholders when revenue gro...
The fuel cards market is expected to grow significantly due to the increasing demand for improved fuel management and the adoption of digital transaction solutions, particularly in the banking and financial sectors. The universal and merchant fuel card segments are expected to drive the market growth.
