Due … The Company's forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, disposition or stock repurchases. 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. 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 … 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. Travel and Corporate Solutions' purchase volume grew 17% to. 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. See Exhibit 1 for a reconciliation of GAAP operating income to total segment adjusted operating income. The adjustments attributable to non-controlling interests, including adjustments to the redemption value of a non-controlling interest and non-cash adjustments related to the tax receivable agreement, have no significant impact on the ongoing operations of the business. A replay of the webcast and the accompanying slides will be available on the Company's website. The fuel prices referenced above are based on the applicable NYMEX futures price from the week of February 3, 2020. Impairment charges represent non-cash asset write-offs, which do not reflect recurring costs that would be relevant to the Company's continuing operations. The quarterly results … 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. 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. 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. Steve Elder, 207-523-7769 Q4 2019 Q1 2020 Q2 2020 Q3 … Health and Employee Benefit Solutions' average number of Software-as-a-Service (SaaS) accounts in the U.S. grew 17% to 13.4 million from 11.5 million for the fourth quarter of 2018. WEX, Inc. (NYSE:WEX)Q4 2016 Earnings CallFebruary 13, 2017 9:00 am ETExecutivesSteven Alan Elder - WEX, Inc.Melissa D. The Company provides revenue guidance on a GAAP basis and earnings guidance on a non-GAAP basis, due to the uncertainty and the indeterminate amount of certain elements that are included in reported GAAP earnings. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise. 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. Fourth Quarter and Full Year 2019 Financial Results … 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. Our guidance assumes approximately 44.0 million shares outstanding for the full year. Management uses the non-GAAP measures presented within this news release to evaluate the Company's performance on a comparable basis. Jessica.Roy@wexinc.com Investor contact: 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 … For the first quarter of 2020, WEX expects revenue in the range of, For the full year 2020, the Company expects revenue in the range of. PORTLAND, Maine--(BUSINESS WIRE)--Feb. 13, 2020-- In addition, since debt issuance cost amortization is dependent upon the financing method, which can vary widely company to company, we believe that excluding these costs helps to facilitate comparison to historical results as well as to other companies within our industry. 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. 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. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. For example, a cash salary generally has a fixed and unvarying cash cost. Payment processing gallons of fuel represents the total number of gallons of fuel purchased by fleets that have a payment processing relationship with WEX. Senior Vice President, Global Investor Relations Steve.Elder@wexinc.com 207-523-7769. Payment processing transactions represents the total number of purchases made by fleets that have a payment processing relationship with WEX. "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. 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. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months ended September 30, 2020. The Company considers certain acquisition-related costs, including certain financing costs, investment banking fees, warranty and indemnity insurance, certain integration related expenses and amortization of acquired intangibles, as well as gains and losses from divestitures, to be unpredictable, dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired or divested business or the Company. Late fee revenue represents fees charged for payments not made within the terms of the customer agreement based upon the outstanding customer receivable balance. Purchase volume in the Travel and Corporate Solutions segment represents the total dollar value of all WEX-issued transactions that use WEX corporate card products and virtual card products. Payment processing dollars of fuel represents the total dollar value of the fuel purchased by fleets that have a payment processing relationship with WEX. Steve Elder. WEX Inc. (NYSE: WEX), a leading financial technology service provider, today reported financial results for the three months ended September 30, 2020. Exhibit 3 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. Steve.Elder@wexinc.com, Senior Vice President, The $58.8 million … 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. Net unrealized gains (losses) on financial instruments, Non-cash adjustments related to tax receivable agreement, Less: Net (loss) income from non-controlling interests. 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. We remain committed to providing best-in-class technologies and capabilities to our customers and focused on driving innovation across our segments. The $58.8 million … WEX Inc. WEX Inc. Reports Fourth Quarter and Full Year 2019 Financial Results Business Wire PORTLAND, Maine -- February 13, 2020 WEX Inc. (NYSE: WEX), a leading financial technology service … Average number of vehicles serviced was approximately 14.9 million, an increase of 19% from the fourth quarter of 2018. Benzinga. 20, 2019- WEX Inc. (NYSE: WEX), a leading financial technology service provider, will host a conference call at 4:30 pm today to discuss its financial results for the three months and year ended December 31, 2018 . Debt restructuring and debt issuance cost amortization are unrelated to the continuing operations of the Company. 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. 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. “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 delivered earnings results at the top end of our guidance range for Q4. 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. Adjusted … The business services provider reported $1.59 EPS for the quarter, missing the consensus … In addition, the 4th quarter includes a $20.9 million reduction to properly reflect fleet segment revenue and expenses. We exclude restructuring and other costs when evaluating our continuing business performance as such items 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. Investor Alerts? “Good organic growth coupled with solid returns from our strategic acquisitions are proof of the extraordinary progress we’ve made in 2019. 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 … The Conference ID number is 1968236. “Our second quarter results reflect the impact of the COVID-19 … 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. Although adjusted net income, adjusted operating income and total segment adjusted operating income are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), these non-GAAP measures are integral to the Company's reporting and planning processes and the chief operating decision maker of the Company uses segment adjusted operating income to allocate resources among our operating segments. WEX Inc. 2019 Q4 - Results - Earnings Call Presentation. The tax related items are the difference between the Company’s U.S. GAAP tax provision and a pro forma tax provision based upon the Company’s adjusted net income before taxes as well as the impact from certain discrete tax items. 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. (NYSE:WEX), a leading financial technology service provider, today reported financial results for the three months and year ended December 31, 2019. “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 … The forward-looking statements speak only as of the date of this earnings release and undue reliance should not be placed on these statements. Segment Adjusted Operating Income and Adjusted Operating Income Margin Information, Segment Adjusted Operating Income Margin(1). WEX last posted its quarterly earnings results on October 29th, 2020. 04:01PM : WEX Identifies Cause Of Fuel Card Problems: Too Much Data. The Company's adjusted net income guidance, which is a non-GAAP measure, 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 our tax receivable agreement, similar adjustments attributable to our non-controlling interests and certain tax related items. 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. Total revenue for the fourth quarter of 2019 increased 15% to $440.0 million from $381.2 million for the fourth quarter of 2018. WEX Inc. (NYSE: WEX) reported mixed fourth-quarter 2019 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same. To determine the impact of price per gallon of fuel (“PPG”) on revenue, revenue subject to changes in fuel prices was calculated 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, exclusive of revenues derived from 2019 acquisitions. 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. Yahoo forma parte de Verizon Media. 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. 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 … 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. Stock-based compensation is different from other forms of compensation as it is a non-cash expense. For the portions of our business that earn revenue based on margin spreads, revenue was calculated utilizing the comparable margin from the prior year. 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. 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. This also includes costs related to certain identified initiatives, including technology initiatives, to further streamline the business, improve the Company's efficiency, create synergies, globalize the Company's operations, and remediate the prior year material weaknesses, all with an objective to improve scale and efficiency and increase profitability going forward. 8 Company Results - Full Year 2019 (In thousands except per share data) 2019 2018 $ ∆ Yr/Yr % ∆ Yr/Yr … 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. We had a strong organic revenue and adjusted net income growth, driven by robust results from Fleet Solutions and Travel and Corporate Solutions … WEX Inc. analyst estimates, including WEX earnings per share estimates and analyst recommendations. 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 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. Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. As previously announced, the conference call will be webcast live on the Internet, and can be accessed, along with the accompanying slides, at the Investor Relations section of the WEX website, www.wexinc.com. WEX Fourth Quarter 2019 Earnings ... WEX Full Year and Fourth Quarter 2019 Financial Results. For more information, visit www.wexinc.com. WEX (NYSE:WEX) Earnings Information. Now let's move to the Q4 results. WEX Inc. Management believes that investors may find these measures useful for the same purposes, but cautions that they should not be considered a substitute for, or superior to, disclosure in accordance with GAAP. This guidance does not include any impacts from the recently announced acquisition of eNett and Optal. Net late fee rate represents late fee revenue as a percentage of fuel purchased by fleets that have a payment processing relationship with WEX. WEX Inc. (WEX Quick Quote WEX - Free Report) reported strong fourth-quarter 2018 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Total fuel transactions processed increased 12% from the fourth quarter of 2018 to 156.0 million. WEX operates in more than 10 countries and in more than 20 currencies through more than 5,000 associates around the world. 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. 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. 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. 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