WEX NYSE:WEX Stock Report

Chief Operating Officer of Americas recently sold US$204k worth of stock

On the 4th of August, Robert Deshaies sold around 1k shares on-market at roughly US$170 per share. In the last 3 months, there was an even bigger sale from another insider worth US$294k. Insiders have been net sellers, collectively disposing of US$1.7m more than they bought in the last 12 months.

WEX Inc. Appoints Jay Dearborn Chief Strategy Officer

WEX Inc. announced the appointment of Jay Dearborn as Chief Strategy Officer, effective immediately. In this newly created role, Dearborn will drive both strategy and operational planning across the organization. He will also be responsible for end-to-end M&A activities, including deal origination, execution, and integration, as well as government affairs and external communications. As Chief Strategy Officer, Dearborn will continue to report directly to Ms. Smith and will remain on the Executive Leadership Team. He brings a wealth of strategy, payments, and operating experience to the role, having successfully rearchitected WEX’s corporate payments product set, opened new markets, and skillfully navigated the impact of COVID-19 on WEX’s travel business. Dearborn has led WEX’s Corporate Payments business and served on its Executive Leadership Team in the role of President, Corporate Payments since 2017. Prior to joining WEX in 2016 as Vice President of Corporate Strategy, Dearborn was a Partner at global management consulting firm McKinsey & Company, where he split his time serving organizations across both sides of the Atlantic. Dearborn holds an MBA and a bachelor’s degree from the University of Pennsylvania’s Wharton School. He also has a master’s degree in law and diplomacy from Tufts University’s Fletcher School.

WEX Inc. (NYSE:WEX) agreed to acquire business card portfolio of Exxon Mobil from Exxon Mobil Corporation (NYSE:XOM).

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Second quarter 2022 results: EPS: US$0.76 (up from US$0.76 loss in 2Q 2021). Revenue: US$598.2m (up 30% from 2Q 2021). Net income: US$34.1m (up US$68.0m from 2Q 2021). Profit margin: 5.7% (up from net loss in 2Q 2021). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 63%. Over the next year, revenue is forecast to grow 11%, compared to a 14% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.

Wex Inc. Provides Earnings Guidance for the Third Quarter 2022

WEX Inc. provided earnings guidance for the third quarter 2022. For the quarter, the company expects revenue in the range of $580 million to $590 million.