Wex, Inc. (NYSE: WEX) reported Q3 EPS of $2.19, $0.07 better than the analyst estimate of $2.12. Revenue for the quarter came in at $382.7 million versus the consensus estimate of $375.16 million.

"Following an impressive first half of the year, our momentum continued this quarter with double-digit year-over-year revenue and profitability growth, driven by strong performance across our core businesses. Healthy volumes, strong international growth, and higher fuel prices all contributed to our performance being ahead of expectations," said Melissa Smith, WEX’s president and chief executive officer.

Smith continued, "Following our market launch of programs for Shell and the recent signing of critical agreements related to the conversion of Chevron, we are now fully focused on transitioning these portfolios onto the WEX platform. We are anticipating conversion of both programs beginning this year and ramping in 2019, with a full run rate of revenue during the second half of next year. This is a milestone for us as Shell and Chevron are two of the largest oil company portfolios in North America and will meaningfully benefit our Fleet business for many years to come. We are excited to bring aboard these new relationships and are looking forward to building on these pivotal wins in the coming year."

GUIDANCE:

Wex, Inc. sees FY2018 EPS of $8.13-$8.23, versus the consensus of $8.13. Wex, Inc. sees FY2018 revenue of $1.48-1.49 billion, versus the consensus of $1.47 billion.

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