PORTLAND, Maine (AP) — PORTLAND, Maine (AP) — Wex Inc. (WEX) on Wednesday reported second-quarter earnings of $108.5 million.
On a per-share basis, the Portland, Maine-based company said it had net income of $3.11. Earnings, adjusted for one-time gains and costs, were $5.35 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $5.08 per share.
The provider of fuel payment processing for fleet vehicles posted revenue of $753.5 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $739.8 million.
For the current quarter ending in September, Wex expects its per-share earnings to range from $5.45 to $5.65.
The company said it expects revenue in the range of $733 million to $753 million for the fiscal third quarter.
Wex expects full-year earnings in the range of $19.68 to $20.08 per share, with revenue ranging from $2.86 billion to $2.9 billion.
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