Wex reports Q4 adjusted EPS $3.82, consensus $3.70

Reports Q4 revenue $663M, consensus $653.13M. “WEX had another outstanding year as we continued to drive profitable growth, generate strong adjusted free cash flow, and demonstrate our resiliency,” said CEO Melissa Smith. “Our leading offerings and highly recurring revenue position us for success throughout market cycles. In 2023, we continued to advance our strategic priorities, investing in AI and technology infrastructure projects, expanding our EV offerings for mixed fleets, and deepening our solution set with the acquisitions of Payzer and Ascensus’ Health and Benefits line of business. We also achieved higher margins through a combination of strong volumes on our highly scalable platform and cost savings from our technology investments. We expect this momentum to continue into 2024 driven by the strength of our sales engine and further optimization efforts across the business, as well as the full-year benefit of our recent acquisitions.”