Payment solutions provider WEX (NYSE: WEX) will be reporting results this Wednesday after market close. Here’s what you need to know.
WEX beat analysts’ revenue expectations last quarter, reporting revenues of $672.9 million, up 5.7% year on year. It was a mixed quarter for the company, with but full-year revenue guidance slightly missing analysts’ expectations.
Is WEX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting WEX’s revenue to grow 5.3% year on year, a reversal from the 2.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. WEX has missed Wall Street’s revenue estimates multiple times over the last two years.
With WEX being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for financial services stocks. However, there has been positive investor sentiment in the segment, with share prices up 12.4% on average over the last month. WEX is up 13.6% during the same time .
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