WEX Inc. Reports Second Quarter 2020 Financial Results

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Go back to WEX Inc. Reports Second Quarter 2020 Financial Results

Wex, Inc. (WEX) Misses Q2 EPS by 18c, Revenues Miss

July 30, 2020 6:39 AM EDT

Wex, Inc. (NYSE: WEX) reported Q2 EPS of $1.21, $0.18 worse than the analyst estimate of $1.39. Revenue for the quarter came in at $347.1 million versus the consensus estimate of $349.01 million.

Second Quarter 2020 Performance Metrics

Average number of vehicles serviced was approximately 15.1 million, an increase of 8% from the second quarter of 2019.Total fuel transactions processed decreased 17% from the second quarter of 2019 to 127.9 million. Payment processing transactions decreased 19% to 103.1 million.Travel and Corporate Solutions' purchase volume decreased 68% to $3.2 billion from $10.0 billion in the second quarter of 2019.Health and Employee Benefit Solutions' average number... More