Wex, Inc. (NYSE: WEX) reported Q2 EPS of $2.09, $0.04 better than the analyst estimate of $2.05. Revenue for the quarter came in at $370.9 million versus the consensus estimate of $366.21 million.

“I am pleased to report another strong quarter and a successful first half of the year, highlighted by top and bottom line results above our guidance range with strong contributions from each of our business segments” said Melissa Smith, WEX’s president and chief executive officer. “We remain focused on our sustained ability to leverage our talent and technology to bring compelling business-to-business products to market, which is allowing us to continue to sign new customers, retain and grow our current base and ultimately drive profitable growth.

Smith continued, “In the first half, we built on our performance from last year, with our employees across the world focused on bringing future-based solutions across many B2B markets through the use of technology and capitalizing on our organic growth opportunities. We are also pleased to report some significant contract wins during the quarter, notably the Shell portfolio, one of the most recognized brands in the industry, further indicating that WEX is the trusted partner of choice. We look forward to carrying this momentum through the second half of 2018 and beyond.”

Financial Guidance and Assumptions

The Company provides revenue guidance on a GAAP basis and earnings guidance on a non-GAAP basis, due to the uncertainty and an indeterminate amount of certain elements that are included in reported GAAP earnings.

• For the full year 2018, the Company expects revenue in the range of $1.445 billion to $1.475 billion and adjusted net income in the range of $344 million to $355 million, or $7.90 to $8.15 per diluted share. Our assumptions for the full-year include an additional $0.10 per diluted share in costs from the Shell integration.
• For the third quarter of 2018, WEX expects revenue in the range of $363 million to $373 million and adjusted net income in the range of $88 million to $93 million, or $2.03 to $2.13 per diluted share.

"We are excited to deliver another quarter of impressive growth and build upon the first-quarter's momentum. We expect to sustain this robust level of performance through the balance of the year, allowing us to invest in the Shell implementation and absorb changes in foreign exchange rates" said Roberto Simon, WEX's chief financial officer.

GUIDANCE:

Wex, Inc. sees FY2018 EPS of $7.90-$8.15. Wex, Inc. sees FY2018 revenue of $1.445-1.475 billion.

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