SOUTH PORTLAND, Maine (AP) — SOUTH PORTLAND, Maine (AP) — Wex Inc. (WEX) on Thursday reported third-quarter net income of $102.9 million.
On a per-share basis, the South Portland, Maine-based company said it had profit of $2.52. Earnings, adjusted for one-time gains and costs, came to $4.35 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.42 per share.
The provider of fuel payment processing for fleet vehicles posted revenue of $665.5 million in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $688.5 million.
For the current quarter ending in December, Wex expects its per-share earnings to range from $3.51 to $3.61.
The company said it expects revenue in the range of $630 million to $640 million for the fiscal fourth quarter.
Wex expects full-year earnings in the range of $15.21 to $15.31 per share, with revenue ranging from $2.62 billion to $2.63 billion.
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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
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