WEX (NYSE:WEX) First Quarter 2024 Results
Key Financial Results
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Revenue: US$652.7m (up 6.7% from 1Q 2023).
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Net income: US$65.8m (down 3.2% from 1Q 2023).
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Profit margin: 10% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses.
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EPS: US$1.57 (down from US$1.58 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
WEX Earnings Insights
Looking ahead, revenue is forecast to grow 7.4% pa on average during the next 3 years, compared to a 4.2% growth forecast for the Diversified Financial industry in the US.
Performance of the American Diversified Financial industry.
The company’s shares are down 6.5% from a week ago.
Risk Analysis
We don’t want to rain on the parade too much, but we also found 1 warning sign for WEX that you need to be mindful of.
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