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EarningsQ2 2026 Earnings Report
WEX Q2 2026 EPS Results
Actual EPS$5.35
Consensus EPS$5.08
Beat/MissBeat by +$0.27
One Year Ago EPS$3.95
WEX Q2 2026 Revenue Results
Actual Revenue$753.50M
Expected Revenue$740.72M
Beat/MissBeat by +$12.78M
YoY Revenue Growth+14.24%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeAfter Close
Conference CallWednesday, July 22, 2026
WEX Upcoming Earnings
WEX's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
WEX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong execution: revenue and adjusted EPS materially beat guidance, free cash flow and leverage improved, buybacks resumed, and AI-driven product initiatives and segment momentum (mobility, corporate payments, benefits) were highlighted. However, a meaningful portion of near-term outperformance was driven by elevated fuel prices and FX, mobility volumes remain constrained by demand-side weakness, and credit/provision dynamics require monitoring. On balance, management presented confidence in sustainable organic initiatives and capital allocation while acknowledging macro-driven effects.Company Guidance
Revenue Beat and Growth
Q2 revenue of $753.5 million, up 14.2% year-over-year and above the top end of guidance; revenue ex fuel prices and FX grew 4.2% (midpoint of guidance).
Strong Adjusted EPS Performance
Adjusted net income per diluted share of $5.35, up 35.4% YoY; adjusted EPS excluding fuel and FX increased 10.1% and came in at the high end of guidance.
Robust Free Cash Flow and Deleveraging
Trailing 12-month adjusted free cash flow of $696 million (a 22% increase), enabling leverage to decline to 2.9x (inside target range of 2.5x–3x).
Active Capital Return via Buybacks
Repurchased approximately $93 million of shares between May and July 20 (including ~$60 million in Q2), with buybacks contributing roughly $0.01 to Q2 EPS; management plans to direct the vast majority of adjusted FCF to repurchases near-term.
Segment Wins — Mobility and Corporate Payments Momentum
Mobility reported strong quarter: segment revenue +22% (or +3.1% excluding FX/PPG); BP portfolio fully online; payment processing transactions were flat YoY and up 6.8% sequentially. Corporate payments revenue $125.1 million, up 5.8%, with net interchange rate expanding 5 bps and total travel volume +6.4%. Direct AP growth reaccelerated to 20% and now contributes ~20% of segment revenue.
Benefits Segment Execution and HSA Growth
Benefits revenue $206 million, up 5.6% YoY. SaaS account growth 2.2%; average HSA custodial cash assets +11.1%; custodial investment revenue +11.4%; HSA accounts grew 7%. Management reported a healthy early pipeline for 2027 after a strong 2026 open enrollment.
AI and Product Innovation
AI-Insights in beta for mobility (actionable recommendations from proprietary data); AI-powered credit adjudication improved decision speed and risk outcomes during higher fuel prices. Management expects AI-driven efficiencies to support margin expansion.
Raised Full-Year Guidance and Q3 Outlook
Updated guidance: FY revenue $2.86B–$2.90B and adjusted EPS $19.68–$20.08 (increases vs. prior midpoints of +$32 million revenue and +$0.63 EPS, driven by Q2 outperformance, buybacks and higher fuel assumptions). Q3 revenue guide $733M–$753M; Q3 adjusted EPS $5.45–$5.65.
Recognition and Talent
Forbes recognized WEX as one of America's best employers for company culture, highlighting employee and cultural strengths that support execution.
WEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed