WEX Q2 revenue rose 8% to record $673.5 million; GAAP net income fell 13%
WEX reported second-quarter 2024 revenue up 8% to $673.5 million, but GAAP net income fell to $77.0 million, or $1.83 per diluted share, from $95.3 million, or $2.20, a year earlier. Adjusted net income rose to $3.91 per diluted share from $3.63. The company now expects full-year 2024 revenue of $2.68 billion to $2.72 billion and adjusted earnings of $15.98 to $16.38 per diluted share, citing a modest revision to its second-half outlook, and expects to enter a $300 million accelerated share repurchase agreement.
Key points
- Q2 revenue was $673.5 million, up from $621.3 million; the Benefits segment grew 13%.
- GAAP diluted EPS was $1.83 versus $2.20; adjusted diluted EPS was $3.91 versus $3.63.
- Q3 2024 guidance: revenue of $688 million to $698 million and adjusted EPS of $4.42 to $4.52.
- Full-year 2024 guidance: revenue of $2.68 billion to $2.72 billion and adjusted EPS of $15.98 to $16.38; a $300 million accelerated share repurchase is expected in the near future.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.