Wex: 1Q Earnings Snapshot

SOUTH PORTLAND, Maine (AP) _ Wex Inc. (WEX) on Thursday reported first-quarter profit of $16.1 million.

On a per-share basis, the South Portland, Maine-based company said it had profit of 37 cents. Earnings, adjusted for one-time gains and costs, came to $1.72 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The provider of fuel payment processing for fleet vehicles posted revenue of $381.9 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $380.4 million.

For the current quarter ending in July, Wex expects its per-share earnings to range from $2.22 to $2.28.

The company said it expects revenue in the range of $438 million to $443 million for the fiscal second quarter.

Wex expects full-year earnings in the range of $9.10 to $9.50 per share, with revenue ranging from $1.71 billion to $1.75 billion.

Wex shares have risen 49% since the beginning of the year. The stock has increased 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WEX at https://www.zacks.com/ap/WEX