SOUTH PORTLAND, Maine (AP) — SOUTH PORTLAND, Maine (AP) — Wex Inc. (WEX) on Wednesday reported first-quarter earnings of $71.5 million.
The South Portland, Maine-based company said it had profit of $1.81 per share. Earnings, adjusted for one-time gains and costs, came to $3.51 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.
The provider of fuel payment processing for fleet vehicles posted revenue of $636.6 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $630.4 million.
For the current quarter ending in June, Wex expects its per-share earnings to range from $3.60 to $3.80.
The company said it expects revenue in the range of $640 million to $660 million for the fiscal second quarter.
Wex expects full-year earnings in the range of $14.72 to $15.32 per share, with revenue ranging from $2.57 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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