Wex reports drop in first quarter revenue and earnings per share
Fleet solutions revenue declined 2.4% to $243.8 million for the quarter 2 minutes read Portland, Maine-based Wex is a multichannel provider of corporate payment solutions, including fuel payment processing for commercial fleet vehicles. (Photo: Wex)
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.