WEX Inc. reported its first quarter 2025 financial results on April 30, 2025, with total revenue decreasing 2% year-over-year to $636.6 million. This decrease includes an $8.5 million unfavorable impact from fuel prices and spreads and a $2.5 million unfavorable impact from foreign exchange rates.
GAAP net income for the quarter increased to $71.5 million, or $1.81 per diluted share, compared with $65.8 million, or $1.55 per diluted share, in Q1 2024. Adjusted net income was $138.4 million, or $3.51 per diluted share, up 1% per diluted share from the prior year.
WEX spent $790 million on share repurchases in Q1, reducing the share count by approximately 13.1%. The company updated its full-year 2025 guidance to account for macro-related impacts of fuel prices, FX, interest rates, and the recently completed tender offer.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.