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Wex: Q1 Earnings Snapshot

PORTLAND, Maine (AP) — PORTLAND, Maine (AP) — Wex Inc. (WEX) on Wednesday reported first-quarter profit of $77.7 million.

On a per-share basis, the Portland, Maine-based company said it had profit of $2.22. Earnings, adjusted for one-time gains and costs, were $4.15 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4 per share.

The provider of fuel payment processing for fleet vehicles posted revenue of $673.8 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $667.7 million.

Wex expects full-year earnings in the range of $18.95 to $19.55 per share, with revenue in the range of $2.82 billion to $2.88 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WEX at https://www.zacks.com/ap/WEX

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