Every material Form 8-K WEX filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
WEX reported third-quarter 2024 revenue up 2% to a third-quarter record $665.5 million, with GAAP diluted EPS of $2.52 versus $0.42 a year earlier and adjusted diluted EPS of $4.35 versus $4.05. The company lowered its full-year 2024 outlook and guided fourth-quarter adjusted EPS to $3.51 to $3.61, citing lower fuel prices and softer Mobility volumes, and said results came in below its expectations.
Q3 2024 total revenue rose 2% to $665.5 million; GAAP net income was $102.9 million, or $2.52 per diluted share.
Full-year 2024 revenue is now expected at $2.62 billion to $2.63 billion, and adjusted EPS at $15.21 to $15.31.
Fourth-quarter 2024 guidance: revenue of $630 million to $640 million and adjusted EPS of $3.51 to $3.61.
WEX spent about $370 million on share repurchases in Q3, and its Board increased the repurchase authorization by $1 billion.
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.
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.
WEX Inc. entered into a Fifth Amendment to its credit agreement on May 10, 2024, extending the maturity of its revolving credit facility and tranche A term loans to May 10, 2029, and increasing the revolver from $1.43 billion to $1.6 billion. The tranche A term loan facility rises from $844 million to $900 million, and interest margins are now tied to the company's leverage ratio. The same filing reports that stockholders re-elected all 12 directors and approved the executive pay proposal at the May 9, 2024 annual meeting.
Revolving credit facility commitments increased from $1.43 billion to $1.6 billion
Tranche A term loan facility increased from $844 million to $900 million
Maturity extended from April 1, 2026 to May 10, 2029
Stockholders approved the non-binding executive compensation proposal, with 37,012,270 votes for and 751,625 against
WEX reported first-quarter 2024 revenue of $652.7 million, up 7% from a year earlier, and adjusted net income of $3.46 per diluted share, up 5%. GAAP net income was $65.8 million, or $1.55 per diluted share, compared with $1.56 a year earlier. The company raised its full-year 2024 revenue and adjusted earnings guidance, which matters to shareholders because it signals management's higher expectations for the year.
Q1 2024 revenue was $652.7 million, up 7% from $612.0 million; GAAP net income was $65.8 million, or $1.55 per diluted share, versus $1.56 a year earlier
Adjusted net income was $146.7 million, or $3.46 per diluted share, versus $3.31 a year earlier
Full-year 2024 revenue guidance raised to $2.73 billion to $2.77 billion from $2.70 billion to $2.74 billion
Full-year 2024 adjusted EPS guidance raised to $16.10 to $16.60 from $15.90 to $16.40 per diluted share
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every WEX filing is on SEC EDGAR ↗. 8-K briefs of other companies →