WEX Inc. to Report Fourth Quarter and Full Year 2024 Financial Results on February 5, 2025

WEX Inc. (NYSE: WEX), the global commerce platform that simplifies the business of running a business, has announced that it will report its fourth quarter and full year 2024 financial results on Wednesday, February 5, 2025, after market close. The press release and WEX’s newly-introduced supplemental materials packet, which includes a summary and discussion of its fourth quarter performance, will be available that same afternoon through the investor relations section of the WEX website, www.wexinc.com.

On Thursday, February 6, 2025, at 10:00 AM ET, Melissa Smith, WEX’s Chair, Chief Executive Officer, and President, and Jagtar Narula, WEX’s Chief Financial Officer, will host a conference call to discuss the Company's results. The conference call will be webcast live online and may be accessed through the investor relations section of WEX’s website. The live conference call may also be accessed by dialing +1 888-596-4144 or +1 646-968-2525. The passcode number is 2902800.

A replay of the live webcast will be available on the Company's website or by dialing +1 800-770-2030 or +1 609-800-9909, conference ID number 2902800, beginning approximately two hours after the webcast. The replay will remain available through at least Thursday, February 13, 2025.

WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit www.wexinc.com.




WEX's strategic focus on organic growth and acquisitions has significantly contributed to its financial performance in 2024. The company has achieved record revenue and strong profitability, driven by healthy sales, high customer retention, and expanding margins. In the second quarter of 2024, WEX reported an 8% increase in revenue to a second quarter record of $673 million, with the Benefits segment growing by 13% and the Mobility segment accelerating its growth rate. The company also exceeded its goal of achieving $100 million of run rate savings six months earlier than expected and made meaningful progress in advancing its strategic initiatives.

For the fourth quarter and full year results, WEX expects to continue its strong financial performance. The company is committed to creating value for its shareholders and expects to enter into an accelerated share repurchase agreement in the near future to repurchase $300 million of WEX common stock, reflecting its confidence in WEX's intrinsic value and long-term growth potential.

WEX's commitment to investing in AI and technology infrastructure has significantly impacted the company's operational efficiency and revenue growth. The company has made substantial investments in AI and technology projects, which have led to cost savings and higher margins. In 2023, WEX achieved higher margins through a combination of strong volumes on its highly scalable platform and cost savings from its technology investments. These investments have also enabled WEX to expand its EV offerings for mixed fleets and deepen its solution set through acquisitions such as Payzer and Ascensus' Health and Benefits line of business. As a result of these investments, WEX has been able to drive profitable growth, generate strong adjusted free cash flow, and demonstrate its resiliency throughout market cycles.

WEX's expansion into the EV market and mixed fleet offerings has contributed significantly to the company's growth. The company has made meaningful progress in advancing its strategic initiatives to expand its product capabilities on its commerce platform in each of its segments. For instance, WEX announced a nationwide partnership with Qmerit for commercial fleets, EV charger installation at drivers' homes, which is expected to drive further growth in the EV market (Business Wire, 6 weeks ago). Additionally, WEX launched two AI pilots for benefits administration, demonstrating the company's commitment to embracing digital transformation and leveraging cutting-edge technologies (Business Wire, 2 months ago).

These initiatives have positioned WEX well for future performance in the EV market. The company's leading offerings and highly recurring revenue position it for success throughout market cycles. As the demand for EV charging solutions and mixed fleet offerings continues to grow, WEX's strategic investments in this sector are expected to drive further growth and profitability. The company's strong balance sheet, solid cash generation, and low leverage ratio also allow it to invest in the business and return capital to shareholders, further enhancing its long-term growth potential.

In summary, WEX's strategic focus on organic growth and acquisitions, commitment to investing in AI and technology infrastructure, and expansion into the EV market and mixed fleet offerings have contributed to its strong financial performance in 2024. The company's expectations for the fourth quarter and full year results reflect its confidence in its intrinsic value and long-term growth potential. As WEX continues to create value for its shareholders, it remains well-positioned for success in the EV market and beyond.