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Choosing an HDHP versus a PPO/traditional health plan, 9 ways your benefits administration partner should be supporting you, Inventory Information Approval System (IIAS). It makes me feel I have a partner I can trust.. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. For additional information and timing of these changes, visit this webpage. About 150 employees. Find the right solution, Benefits partners WEX Inc.(WEX Quick QuoteWEX - Free Report) delivered better-than-expected first-quarter 2023 results. In addition, the benefit of excess free cash flow in the fourth quarter of last year reversed during the first quarter of 2023. C-Level Executive in Finance and Accounting. Where does it work? The top line increased 18.3% year over year, mainly driven by the positive impact of fuel prices and spreads. Although adjusted net income attributable to shareholders, adjusted operating income, and total segment adjusted operating income are not calculated in accordance with GAAP, these non-GAAP measures are integral to the Company's reporting and planning processes and the chief operating decision maker of the Company uses total segment adjusted operating income to allocate resources among our operating segments. No setup fee Offerings Free Trial Free/Freemium Version Premium Consulting / Integration Services Benefits of AWS Built services that were instantly scalable and highly deliverable Total volume across all segments was $52.3 billion, an increase of 17% from the first quarter of 2022. File a claim, view account balance and summary information, sign up for FREE direct deposit, get email notifications, and more! MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. You can seethe complete list of todays Zacks #1 (Strong Buy) Rank stocks here. Adjusted net income attributable to shareholders is now expected to be in the range of $13.85 to $14.25 per diluted share, an increase from the prior guidance range of $13.55 to $14.05 per diluted share. WEX shares have gained 4.2% in the past year against the 3.1% decline of theindustryit belongs to. Mobility revenues were up 7% year over year to $342.3 million. How do I access my account? Adjusted earnings of $3.31 per share surpassed the Zacks Consensus Estimate by 3.4% and our estimate by 3.8%. Ms. Smith added, We continued to drive technological innovation throughout the business while enhancing the scalability of our platform to win new customers and diversify our offerings. Our card works at a variety of merchants. Benefits average number of Software-as-a-Service (SaaS) accounts grew 14% to 20.3 million from 17.8 million in the first quarter of 2022. Benefits revenues of $164.9 million registered 36% year-over-year growth. Browse our category menus to discover hundreds of online resources frequently used by faculty and staff, or use the search to find people. To locate past Hub and Hub at Work articles, use the search function at the top of the page. Debt restructuring costs are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. The average number of vehicles serviced was around 18.7 million, up 9% from the year-ago quarters figure. Check out all our insights on staffing, benefits offerings, and retention techniques on our Benefits Trends report. Companies can't remove reviews or game the system. Visit Performance Disclosure for information about the performance numbers displayed above. The COVID-19 National Emergency is over. Adjusted net income is now expected between $13.85 and $14.25 per . Transit Program See our report's 7 new picks today, absolutely FREE. . (form 10-Q), https://www.businesswire.com/news/home/20230425006008/en/. 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. Discovery Benefits | WEX Inc. WEX | Reset Password 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. Segment Adjusted Operating Income and Adjusted Operating Income Margin Information. Forgot Password. You also can log into your account through the Discovery Benefits mobile app, using your existing username and password. Contact Participant Services by phone at 866-451-3399 or by email at customerservice@discoverybenefits.com. WEX Inc. Reports First Quarter 2023 Financial Results Full benefits administration. Mobility payment processing transactions were up 4% year over year to 137.5 million. I personally have been on the phone with their staff and was thoroughly impressed with their professionalism and empathy. Discovery Benefits, Inc. Is Now WEX | Bridge - TriHealth GAAP operating income margin for the first quarter of 2023 was 25.2% compared to 23.6% for the prior year comparable period. 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 Benefit Solutions. Real time prices by BATS. Offered employees educational content about HSAs, FSAs, etc. WEX Health works well for us. The top line increased 1% year over year. Step 1 of 3. Corporate Payments revenues of $104.8 million were up 36% year over year. We provide our partners with a proven benefits and COBRA administration platform thats built to meet their needs. . WEX helps you innovate at scale. WEX Inc. - WEX Completes Acquisition of benefitexpress However, general IT issues seem to have plagued my experience using WEX. EPS increased 12.2% year over year. However I would like to see more details. 3910 Keswick Rd., Suite N2600, Baltimore, MD. It is easy to use (you don't have to be super tech savvy). Delayed quotes by FIS. Written by Specifically, in addition to evaluating the Company's performance on a GAAP basis, management evaluates the Company's performance on a non-GAAP basis that excludes the items specified above for the reasons discussed below: For the same reasons, WEX believes that adjusted net income attributable to shareholders, adjusted operating income and total segment adjusted operating income may also be useful to investors when evaluating the Companys performance. You also can use live chat or search hundreds of help articles directly from your online account. ERGs drive diversity by fostering new bonds and communities across the company. (unaudited), Securitized accounts receivable, restricted, Prepaid expenses and other current assets, Property, equipment and capitalized software, Accrued expenses and other current liabilities, Total liabilities and stockholders equity, WEX INC. Their support team is also not helpful, as getting the information I needed to complete my taxes for my HSA proved to be very difficult. We are unable to reconcile our adjusted net income attributable to shareholders guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including, but not limited to, foreign currency exchange rates, unrealized gains and losses on financial instruments, and acquisition and divestiture related items, which may have a significant impact on our financial results. For the second quarter of 2023, WEX anticipates revenues in the range of $613-$623 million, higher than the current Zacks Consensus Estimate of $609.42 million. Global commerce platform simplifying business complexity | WEX Inc. Forward-looking statements relate to our future plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements. Listen (or watch) and subscribe to Benefits Buzz Apple Spotify Stay up-to-date on the latest trends and insight regarding your employee benefits on our blog or subscribe to our podcast. 1 The change in restricted cash payable for the three months ended March 31, 2022 has been reclassified from net cash provided by operating activities to net cash provided by financing activities to conform to the current period presentation. Learn how your business can generate revenue by adopting digital payments technology. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Total revenues of $612 million surpassed the consensus mark by 1.5% and our estimate by 1.7%. The tables below show the impact of certain macro factors on reported revenue: To determine the impact of foreign exchange translation (FX) on revenue, revenue from entities whose functional currency is not denominated in U.S. dollars, as well as revenue from purchase volume transacted in non-U.S. denominated currencies, were translated using the weighted average exchange rates for the same period in the prior year, exclusive of revenue derived from acquisitions for one year following the acquisition dates. Copy and paste multiple symbols separated by spaces. Type a symbol or company name. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year. MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. 2 Net activity on debt includes: borrowings on revolving credit facility; repayments on revolving credit facility; repayments on term loans; net borrowing of federal funds; and net (repayments) borrowings on other debt. These returns cover a period from January 1, 1988 through April 3, 2023. See Exhibit 1 for a reconciliation of GAAP operating income to total segment adjusted operating income. 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 WEX "benefit" Reviews | Glassdoor In addition, adjusted net income attributable to shareholders, adjusted operating income and total segment adjusted operating income as used by WEX may not be comparable to similarly titled measures employed by other companies. Want the latest recommendations from Zacks Investment Research? You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. Total volume across the company came in at $52.3 billion, up 17% year over year.
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