wex benefits now
To locate past Hub and Hub at Work articles, use the search function at the top of the page. Adjusted earnings of $3.31 per share surpassed the Zacks Consensus Estimate by 3.4% and our estimate by 3.8%. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. After Feb. 26, go to wexinc.com, hover over Solutions and select Participants/Employees. Remember Me Next New User? ERGs drive diversity by fostering new bonds and communities across the company. We also use it to track the billing of COBRA for our former employees. Total revenues of $3.4 billion surpassed the consensus estimate by 2.3% and our estimate by 1.4%. Total volume across the company came in at $52.3 billion, up 17% year over year. How does your program . WEX Health (formerly Evolution1) is a great organization for organizations that offer Flexible benefits. Reconciliation of GAAP Net Income Attributable to Shareholders to Adjusted Net Income Attributable to Shareholders, Unrealized loss (gain) on financial instruments, Acquisitionrelated intangible amortization, Other acquisition and divestiture related items, Debt restructuring and debt issuance cost amortization, ANI adjustments attributable to noncontrolling interests, Adjusted net income attributable to shareholders. Adjusted operating income increased 13.4% to $230.1 million from the year-ago quarters $202.9 million. Benefits administration Focusing on diversity also means focusing on inclusion. The Fleet Solutions segment will now be renamed to Mobility, the Travel and Corporate Solutions segment will now be renamed to Corporate Payments, and the Health and Employee Benefits Solutions segment will now be renamed to Benefits. The midpoint of the guided range is the same as the Zacks Consensus Estimate of $3.50. For 2023, revenues are now expected between $2.45 billion and $2.49 billion compared with the previous expectation of $2.43-$2.47 billion. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. WEX Engaged Employer Overview 750 Reviews 214 Jobs 1.3K Salaries 109 Interviews 315 Benefits 4 Photos 305 Diversity + Add a Review WEX Employee Reviews about "benefit" Updated Apr 24, 2023 Search Reviews Clear All Full-time, Part-time English Filter Found 157 of over 751 reviews Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating April 28, 2023, MAN Quick QuoteMAN OMC Quick QuoteOMC EFX Quick QuoteEFX WEX Quick QuoteWEX. The average number of vehicles serviced was around 18.7 million, up 9% from the year-ago quarters figure. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. How does it work? This allows us to see the company through a different lens or perspective than we normally would. WEX service and relationship managers are dedicated to helping partners and employers at all stages, including efficient onboarding, product launch, business growth, employee education and engagement, and more. Gusto offers payroll, benefits and compliance capabilities. However, WEX Benefits is easier to set up and administer. No setup fee Offerings Free Trial Free/Freemium Version Premium Consulting / Integration Services Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. A wealth of resources for individual investors is available at www.zacks.com. I would like to see where exactly the employees spent their FSA funds. Adjusted net income is expected between $3.45 and $3.55 per share. As a user of WEX, I set up my account online, set up my Health Savings Account and commuter benefits account after open enrollment, received and activated a debit card to use for my Health Savings Account and commuter benefits account, viewed account statements, and made investment decisions for my HSA. New User. Discovery Benefits is now a part of WEXinc and you can log into your account using the links below. Save time and hassles with Benefits by WEX! The Cobra team at WEX is also easy to work with and professional. Adjusted operating income increased 13.4% to $230.1 million from the year-ago quarters $202.9 million. WexLocationCode.setTransientValue("wex02"); Full benefits administration. Management uses the non-GAAP measures presented within this earnings release to evaluate the Companys performance on a comparable basis. Currently, 35% of employers who use the WEX benefits platform provide an HSA contribution. The WEX Difference Customizable dashboard reporting and analytics to learn account trends. The travel industry is evolving. Copyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. The balance is $1500 can I just withdraw that because it seems like I can? Exclusion of the non-cash, mark-to-market adjustments on financial instruments, including interest rate swap agreements and investment securities, helps management identify and assess trends in the Companys underlying business that might otherwise be obscured due to quarterly non-cash earnings fluctuations associated with these financial instruments. WEX Health also helps us manage all the necessary communications for COBRA administration while keeping us compliant with government rules and regulations. Weve simplified the experience from all angles with streamlined administration, insightful employer analytics, and intuitive participant access points. Financial institutions The employee's options to upload receipts seem difficult for some. We were not at all confident in their administration or compliance of FSAs, HSAs, or COBRA. The live conference call also can be accessed by dialing (888) 510-2008 or (646) 960-0306. Robust benefits administration and enrollment solutions help your employees get the most value from their benefits. Copyright 2023 Surperformance. We are a mid-size organization with about 175 employees. All rights reserved. Effective June 2022 Benefit Express, that currently manages all Transit and Flexible Spending Accounts (Health, Limited and Dependent Care), will now go by WEX Health Inc. or simply WEX. The Company's non-GAAP adjusted operating income excludes acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, and other costs. If you do not, click Cancel. NASDAQ data is at least 15 minutes delayed. Benefits revenues of $164.9 million registered 36% year-over-year growth. If used at an IIAS merchant, simply swipe your card and it will automatically approve anything thats an eligible expense. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Since we cover a range of employee benefits needs, we can adapt our solution as your goals change. Our card works at a variety of merchants. Additionally, the non-cash, mark-to-market adjustments on financial instruments are difficult to forecast accurately, making comparisons across historical and future quarters difficult to evaluate; The Company considers certain acquisition-related costs, including certain financing costs, investment banking fees, warranty and indemnity insurance, certain integration related expenses and amortization of acquired intangibles, as well as gains and losses from divestitures to be unpredictable, dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired or divested business or the Company. Higher Education Company, 501-1000 employees, Telecommunications Company, 501-1000 employees, Great core products, poor IT/website and support experiences. Benefits administration Benefits accounts. To determine the estimated adjusted net income attributable to shareholders impact of PPG, revenue and certain variable expenses impacted by changes in fuel prices were adjusted based on the average retail price of fuel for the same period in the prior year for the portion of our business that earns revenue based on a percentage of fuel spend, net of applicable taxes, exclusive of revenue and expenses derived from acquisitions for one year following the acquisition dates. Real time prices by BATS. Zacks Ranks stocks can, and often do, change throughout the month. Privacy Policy | No cost, no obligation to buy anything ever. Benefits revenues of $164.9 million registered 36% year-over-year growth. Delayed Nyse Taft-Hartley WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. The Company's adjusted net income attributable to shareholders, which is a non-GAAP measure, was $145.8 million for the first quarter of 2023, or $3.31 per diluted share, up 15% per diluted share from $131.1 million or $2.88 per diluted share for the same period last year. Net income attributable to shareholders on a GAAP basis decreased by $54.8 million to a net income of $68.0 million, or $1.56 per diluted share for the first quarter of 2023, down 42% compared with net income of $122.8 million, or $2.71 per diluted share, for the first quarter of 2022. (3) Payment processing $ of fuel represents the total dollar value of the fuel purchased by fleets that have a payment processing relationship with WEX. To provide investors with additional insight into its operational performance, WEX has included in this earnings release: in Exhibit 1, reconciliations of non-GAAP measures referenced in this earnings release; in Exhibit 2, tables illustrating the impact of foreign currency rates and fuel prices for each of our reportable segments for the three months ended March 31, 2023; and in Exhibit 3, a table of selected other metrics for the quarter ended March 31, 2023 and the four preceding quarters. Employers turn to us for their employee benefits, reimbursement account, and COBRA administration for a number of reasons including industry-leading technology, an intuitive and personalized participant experience, a multi-account debit card, access to ongoing benefits education resources, and empathetic customer service. That claim has now been approved, and the documentation for that claim was also used to offset and approve the 4 denied claims. Our robust security options are supported by a team of expert consultants who are there to continually assess and enhance security and fraud prevention processes. (8) Net interchange rate represents the percentage of the dollar value of each payment processing transaction that WEX records as revenue from merchants, less certain discounts given to customers and network fees. WEXers approach every opportunity with ingenuity, curiosity, and tenacity. Net income attributable to shareholders per share: Weighted average common shares outstanding: WEX INC. With real-time access and intuitive navigation to all your important account information, our app includes the following features: Easy, Convenient & Secure Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. The WEX Benefits platform helps employers with tracking bonus payments and settlements, automating layoffs and elections, managing employee questions and issues in the COBRA Employer Portal. PORTLAND, Maine, April 27, 2023--WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended March . Women play an important role at WEX. Our end-to-end solution has proven to work for partners and clients with all sorts of needs everything from full benefits admin to account management to call center services, and everything in between. Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. For employees the WEX Flex benefit phone app was one of the best I have seen for this industry. About 150 employees. WEX enables businesses to run a modern B2B payments program to maximize efficiencies, save money, and help unlock the full revenue potential of digital payments. WEX shares have gained 4.2% in the past year against the 3.1% decline of theindustryit belongs to. Our experts pride themselves on providing proactive insight and empathetic solutions to all of your needs. (unaudited), Net cash provided by (used for) operating activities, Purchases of property, equipment and capitalized software, Purchases of available-for-sale debt securities, Sales and maturities of available-for-sale debt securities, Acquisitions, net of cash and restricted cash acquired, Net activity from share-based compensation plans, Net cash provided by financing activities, Effect of exchange rates on cash, cash equivalents and restricted cash, Net change in cash, cash equivalents and restricted cash, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period. Written by See Exhibit 1 for a full explanation and reconciliation of adjusted net income attributable to shareholders, adjusted net income attributable to shareholders per diluted share, and adjusted operating income to the most directly comparable GAAP financial measures. Delayed quotes by FIS. WEX shares have gained 4.2% in the past year against the 3.1% decline of theindustryit belongs to. If used at an IIAS merchant, simply swipe your card and it will automatically approve anything thats an eligible expense. Currently, WEX carries a Zacks Rank #4 (Sell). WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. The Companys non-GAAP adjusted free cash flow is calculated as operating cash flow, adjusted for net purchases of current investment securities, capital expenditures, the change in net deposits and certain other adjustments, which for the three months ended March 31, 2023, reflects an adjustment for contingent consideration paid to sellers in excess of acquisition-date fair value. Corporate Payments revenues of $104.8 million were up 36% year over year. TheStreet upgraded shares of WEX from a "c" rating to a "b-" rating in a . How does your program compare? WEX helps you innovate at scale. Were ready to simplify your business. Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. The average number of vehicles serviced was around 18.7 million, up 9% from the year-ago quarters figure. Find the right solution, Benefits partners The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. The adjusted operating income margin was 37.6%, down 160 basis points year over year. Benefits accounts & COBRA The Conference ID number is 2237921. Initial roll out of member cards could be delivered earlier. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Do I need a new debit card? Adjusted operating income margin was 37.6% in the first quarter of 2023 compared to 39.2% for the prior year comparable period. EFXs adjusted earnings came in at $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. Create your Watchlist to save your favorite quotes on Nasdaq.com. Weve got it. Easy-to-complete non-discrimination testing to keep your plans compliant. For example, a cash salary generally has a fixed and unvarying cash cost. The methodology utilized for calculating the Companys adjusted net income attributable to shareholders tax provision is the same methodology utilized in calculating the Companys GAAP tax provision; and. I never signed up for it they were just like we opened this for you free money! Total revenues of $612 million surpassed the consensus mark by 1.5% and our estimate by 1.7%. We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. Were here to help your business succeed. The average salary for Wex International Inc employees is around $91,884 per year, or $44 per hour. See Exhibit 5 for information on the calculation of adjusted operating income margin. Gusto is scaled for small to mid-sized businesses, and emphasizes an easy to use interface.
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