WEX Inc. (WEX) PT Lowered to $206 at Mizuho
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WEX Inc. Reports Second Quarter 2024 Financial Results
July 25, 2024 6:30 AM EDTQ2 revenue increased 8% year-over-year to a second quarter record $673 million, driven by 13% growth in the Benefits segment and acceleration in Mobility segment growth rate
Q2 GAAP net income was $1.83 per diluted share; Q2 adjusted net income was $3.91 per diluted share
Q2 GAAP operating income margin of 25.0% and adjusted operating income margin of 40.7%
Share repurchases of approximately $100 million during Q2, an additional $70 million in July 2024, and expect to enter into a $300 million accelerated share repurchase agreement in the near future
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