Benefitsolver vs WEX benefits platform 2023 - Feature and Pricing Third party administrators Since we cover a range of employee benefits needs, we can adapt our solution as your goals change. New users can create a new account to get started. Our guidance assumes approximately 45.2 million fully diluted shares outstanding for the full year. Total revenues of $612 million surpassed the consensus mark by 1.5% and our estimate by 1.7%. Your WEX benefits debit card makes it easy to spend your funds on eligible expenses. The raised range is above the Zacks Consensus Estimate of $13.79. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The domestic fuel price in Q1 2023 was $3.86 versus $3.90 in 2022. Debt restructuring costs are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. Access your WEX benefits account Click the links below to log in to a participant or employer accounts (formerly Discovery Benefits, LLC, a WEX Company). The top line increased 18.3% year over year, mainly driven by the positive impact of fuel prices and spreads. Your health plan drives many of your decisions during open Over the past few years, the risk of a cyber attack has become Find the best fuel card or fleet mobility management solution to save money and meet the evolving needs of any type of fleet or size of business. Keep tabs on all your benefit accounts by quickly checking your balances and details using our secure mobile app. Well administer HSAs, FSAs, COBRA, and more on your behalf. Username. You can seethe complete list of todays Zacks #1 (Strong Buy) Rank stocks here. Discovery Benefits is now known as WEX. With real-time access and intuitive navigation to all your important account information, our app includes the following features: Easy, Convenient & Secure I want to make a difference and make people feel like they belong here and WEXPats empowers me to do that by giving me a community of people who have the shared experience of immigrating to a new country for work and the passion to make the transition easier for others. There are no changes to the business conducted in each segment. I want to make a difference and make people feel like they belong here and WEXPats empowers me to do that by giving me a community of people who have the shared experience of immigrating to a new country for work and the passion to make the transition easier for others. C-Level Executive in Finance and Accounting. How does your program compare? Zacks Equity Research How do I access my account? All fields must be completed unless marked (optional). Net income attributable to shareholders per share: Weighted average common shares outstanding: WEX INC. Management uses the non-GAAP measures presented within this earnings release to evaluate the Companys performance on a comparable basis. Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow. Type a symbol or company name. Auto-renewal made easy with an intuitive setup and renewal wizard Direct access to our service experts Adjusted net income is now expected between $13.85 and $14.25 per share compared with the prior expectation of $13.55 and $14.05 per share. We estimate the year-over-year impact of fuel prices increased segment revenue by approximately $1 million, including a benefit . A wealth of resources for individual investors is available at www.zacks.com. Client services. Benefits administration WEX Benefits vs Workday HCM When assessing the two solutions, reviewers found Workday HCM easier to use. Forgot Password. Corporate Payments purchase volume surged 58% year over year to $18.6 billion. For more information, please visit www.wexinc.com. For the second quarter of 2023, the Company expects revenue in the range of $613 million to $623 million and adjusted net income attributable to shareholders in the range of $3.45 to $3.55 per diluted share. WEX Vets Match your military skills Make WEX your next career move At WEX, we recognize the true value of experience-acquired skills. WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. Today, that discovery is still the heart of the Zacks Rank. Remember Me Next. As a user of WEX who has a Health Savings Account and who used to have a commuter benefits account, I can say that using the accounts is easy. HSA Day - National HSA Awareness Day Second quarter and full year 2023 guidance is based on assumed average U.S. retail fuel prices of $3.85 and $3.83 per gallon, respectively. The live conference call also can be accessed by dialing (888) 510-2008 or (646) 960-0306. With other vendors, I feel like a client. About 150 employees. WEX Health (formerly Evolution1) is a great organization for organizations that offer Flexible benefits. Our end-to-end solution has proven to work for partners and clients with all sorts of needs everything from full benefits admin to account management to call center services, and everything in between. WEX hiring Information Management Specialist Intern in United States Your current debit cards and previous correspondence should already have WEX name and logo. Welcome to your single source for all you need to know about your benefit account (s). When used in this earnings release, the words anticipate, believe, continue, could, estimate, expect, intend, may, plan, project, will and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. WEX Inc. Price, Consensus and EPS Surprise, WEX Inc. price-consensus-eps-surprise-chart, Markets Close Flat After Eventful Day; MGM, NXPI, CHGG Beat in Q1, Buy the Opportunity in These Stocks After Earnings, Top Stock Reports for AMD, Cigna & Moderna, Market Leader NVIDIA Breaking Out on Volume. Only 15% of employers changed their benefits in 2021 as a result of COVID-19. Mobility payment processing transactions were up 4% year over year to 137.5 million. WEX helps you innovate at scale. WEST FARGO WEX Inc., a payment systems company based in Portland, Maine, downsized its operation through wide-ranging layoffs on Friday, Oct. 14, including in North Dakota. Offered employees an HSA with investment options. Our customers bring us their complex challenges. Please see Exhibit 1 for a reconciliation of cash flows from operating activities to this non-GAAP measure. ManpowerGroup Inc. (MAN) - free report >>, Omnicom Group Inc. (OMC) - free report >>. Currently, 35% of employers who use the WEX benefits platform provide an HSA contribution. WexLocationCode.setTransientValue("wex02"); From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. To provide investors with additional insight into its operational performance, WEX has included in this earnings release: in Exhibit 1, reconciliations of non-GAAP measures referenced in this earnings release; in Exhibit 2, tables illustrating the impact of foreign currency rates and fuel prices for each of our reportable segments for the three months ended March 31, 2023; and in Exhibit 3, a table of selected other metrics for the quarter ended March 31, 2023 and the four preceding quarters. Weve got it. I would like notifications that there are new reports out on WEX's website for those who have used their HSA and FSA accounts. The Fleet Solutions segment will now be renamed to Mobility, the Travel and Corporate Solutions segment will now be renamed to Corporate Payments and the Health and Employee Benefit Solutions. WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. Drawn from diverse cultures and experiences, we always seek a better way. Choosing an HDHP versus a PPO/traditional health plan, 9 ways your benefits administration partner should be supporting you, Inventory Information Approval System (IIAS). WEX offers technology and customized solutions that meet employers end-to-end benefits needs and power partners thriving benefits offerings. In addition, the benefit of excess free cash flow in the fourth quarter of last year reversed during the first quarter of 2023. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related costs, may not be indicative of such future costs. Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. WEX is our administrator of several employee benefits, including Health Savings Accounts, commuter benefit accounts, an COBRA. Total revenues of $3.4 billion surpassed the consensus estimate by 2.3% and our estimate by 1.4%. Delayed quotes by FIS. However, WEX Benefits is easier to set up and administer. Our card works at a variety of merchants. WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. We are continuously looking for top talent with diverse backgrounds and experience to join our team. Zacks->. WEX exited the quarter with a cash and cash equivalents balance of $921.7 million compared with $922 million witnessed at the end of the prior quarter. Mobility revenues were up 7% year over year to $342.3 million. WEX Health also helps us manage all the necessary communications for COBRA administration while keeping us compliant with government rules and regulations. However, because adjusted free cash flow is a non-GAAP measure, it should not be considered as a substitute for, or superior to, operating cash flow as determined in accordance with GAAP. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations; The change in fair value of contingent consideration, which is related to the acquisition of certain contractual rights to serve as custodian or sub-custodian to HSAs, is dependent upon changes in future interest rate assumptions and has no significant impact on the ongoing operations of the Company. We are unable to reconcile our adjusted net income attributable to shareholders guidance to the comparable GAAP measure without unreasonable effort because of the difficulty in predicting the amounts to be adjusted, including, but not limited to, foreign currency exchange rates, unrealized gains and losses on financial instruments, and acquisition and divestiture related items, which may have a significant impact on our financial results. EFXs adjusted earnings came in at $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. Create your Watchlist to save your favorite quotes on Nasdaq.com. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. Check out all our insights on staffing, benefits offerings, and retention techniques on our Benefits Trends report. Type a symbol or company name. This also includes non-recurring professional service costs, costs related to certain identified initiatives, including restructuring and technology initiatives, to further streamline the business, improve the Companys efficiency, create synergies and globalize the Companys operations, all with an objective to improve scale and efficiency and increase profitability going forward; Debt restructuring and debt issuance cost amortization are unrelated to the continuing operations of the Company. WEX INC. Management's Discussion and Analysis of Financial Condition and Results In conjunction with this announcement, WEX will host a conference call today, April 27, 2023, at 10:00 a.m. (ET). Username Forgot Username? However, general IT issues seem to have plagued my experience using WEX. Taft-Hartley Robert W. Baird increased their price objective on WEX from $222.00 to $236.00 in a research note on Friday. Benefits average number of Software-as-a-Service (SaaS) accounts grew 14% to 20.3 million from 17.8 million in the first quarter of 2022. You'll notice changes in brand name and logos to the online account and mobile app, including where you go to log in. Mobility revenues were up 7% year over year to $342.3 million. We were not at all confident in their administration or compliance of FSAs, HSAs, or COBRA. Now, I'd like to recap our business. Save HSAs are employee-owned and all funds carry over, so employees can build their balances to prepare for big expenses. Powered by WEX Health. Delayed Nyse WEX Inc. Price, Consensus and EPS Surprise, WEX Inc. price-consensus-eps-surprise-chart, Free: See Our Top Stock and 4 Runners Up >>, Do Not Sell My Personal Information (CA Residents Only). Login - WEX Health (in millions) For the second quarter of 2023, WEX anticipates revenues in the range of $613-$623 million, higher than the current Zacks Consensus Estimate of $609.42 million. You could save money by investing in benefits and wellness to reduce employee turnover. WEX Benefits is a suite of benefits administration solutions, positioned to help employers provide healthcare benefit management for their employees. WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more | Set your business free by . Adjusted net income is now expected between $13.85 and $14.25 per share compared with the prior expectation of $13.55 and $14.05 per share. Our easy-to-use APIs in our developer portal give you access to the most complete embedded payment platforms and fintech offerings. WEX Inc.(WEX Quick QuoteWEX - Free Report) delivered better-than-expected first-quarter 2023 results. Find the right solution, Benefits partners Benefits administration Benefits accounts. Setting AP department goals and measuring performance, Choosing an HDHP versus a PPO/traditional health plan, Inventory Information Approval System (IIAS). Participants/employees. WEX provides robust solutions for benefits administration, reimbursement accounts, and COBRA administration. 1 Debit card for multiple accounts (HSA and commuter benefits accounts). Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. Working with WEX has been a win-win., WEX and Mastercard have been partners for an incredibly long time and we've both grown together to fundamentally develop this industry., This feels like a partnership. To that end, we were excited to expand our annual SPARK conference to bring together customers across the mobility, corporate payments, and benefits industries, showcasing how we can help companies simplify the business of running a business with data, payments, and digitization. Where does it work? The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise. WEX SPARK 2023 brings together leaders across fleet, over-the-road trucking, corporate payments, and benefits industries to deliver on simplifying the business of running a business. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Keep more of your money in your business, where it belongs.Apply for a fleet card today! File a claim, view account balance and summary information, sign up for FREE direct deposit, get email notifications, and more! Equifax(EFX Quick QuoteEFX - Free Report) also reported a beat on both counts in its first-quarter 2023 results. Existing Users Username Forgot Username? Our payments platform technologies give you everything you need to run an advanced payments program in one place, including the expertise to make payments smarter, faster, and more profitable. View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006008/en/. WEX is a good organization that works well with the business office for ease of providing funding and record keeping. Forward-looking statements relate to our future plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements. As a user , WEX Health (formerly Evolution1) provided the organization with Flex benefit management and Cobra. For employees the WEX Flex benefit , We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. WEX (NYSE:WEX) Price Target Raised to $190.00 - MarketBeat Public sector TheStreet upgraded shares of WEX from a "c" rating to a "b-" rating in a . If used at an IIAS merchant, simply swipe your card and it will automatically approve anything thats an eligible expense. About WEX Powered by the belief that complex payment systems can be made simple, WEX is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel, and healthcare. This page provides login buttons for accessing your online account along with helpful resources such as a benefits knowledge base, a link to current eligible expenses, and chat. OMCs earnings of $1.56 per share beat the Zacks Consensus Estimate by 13% and our estimate by 11.4%. This company could rival or surpass other recent Zacks Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. 1 MarketScreener is worth more than 1000 Influencers! . We have a file feed connected to WEX Health from our HRIS, so it really helps us stay compliant automatically, with General Notices and Specific Rights Notices when we have new hires or terms. Overall, we continue to execute well on all fronts, and Im pleased to share that we are raising our full year guidance.. We also use it to track the billing of COBRA for our former employees. Recent stocks from this report have soared up to +178.7% in 3 months - this month's picks could be even better. 2 Net activity on debt includes: borrowings on revolving credit facility; repayments on revolving credit facility; repayments on term loans; net borrowing of federal funds; and net (repayments) borrowings on other debt. WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended March 31, 2023. . We believe this is a useful measure for investors to further evaluate the results of operations. Their support team is also not helpful, as getting the information I needed to complete my taxes for my HSA proved to be very difficult. It is a great tool for our employees to easily sign up and manage their HSA and FSA accounts. WEX shares have gained 4.2% in the past year against the 3.1% decline of theindustryit belongs to. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Employers Our robust security options are supported by a team of expert consultants who are there to continually assess and enhance security and fraud prevention processes. The Company does not allocate certain corporate expenses to our operating segments, as these items are centrally controlled and are not directly attributable to any reportable segment. Total volume across the company came in at $52.3 billion, up 17% year over year. Our experts pride themselves on providing proactive insight and empathetic solutions to all of your needs. The top line decreased 7.6% year over year. Offered employees educational content about HSAs, FSAs, etc. For example, a cash salary generally has a fixed and unvarying cash cost. The table below shows the impact of certain macro factors on adjusted net income attributable to shareholders: Segment Estimated Adjusted Net Income Attributable to Shareholders Impact. The following factors, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this earnings release and in oral statements made by our authorized officers: the impact of fluctuations in demand for fuel and volatility of fuel prices, including fuel spreads in the Companys international markets, and the resulting impact on the Companys revenues and net income; the effects of general economic conditions, including a decline in demand for fuel, corporate payment services, travel related services, or health care related products and services; the impact and size of credit losses, including fraud losses, and other adverse effects if the Company fails to adequately assess and monitor credit risk or fraudulent use of our payment cards or systems; failure to implement new technology and products; breaches of, or other issues with, the Companys technology systems or those of its third-party service providers and any resulting negative impact on its reputation, liabilities or relationships with customers or merchants; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Companys industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the failure to maintain or renew key customer and partner agreements and relationships, or to maintain volumes under such agreements; the effect of adverse financial conditions affecting the banking system; the failure to adequately safeguard custodial HSA assets; the failure of corporate investments to result in anticipated strategic value; the extent to which unpredictable events in the locations in which the Company or the Companys customers operate or elsewhere may adversely affect the Companys employees, ability to conduct business, results of operations and financial condition; the failure to comply with the applicable requirements of Mastercard or Visa contracts and rules; the failure to comply with the Treasury Regulations applicable to non-bank custodians; changes in interest rates and the rate of inflation; the ability to attract and retain employees; the ability of the Company to protect its proprietary rights; limitations on or compression of interchange fees; the effects of the Companys business expansion and acquisition efforts; the impact of changes to the Companys credit standards; the impact of foreign currency exchange rates on the Companys operations, revenue and income and other risks associated with operations outside the United States; the impact of the Companys debt instruments on the Companys operations; the impact of leverage on the Companys operations, results or borrowing capacity generally, and as a result of acquisitions specifically; the impact of sales or dispositions of significant amounts of the Companys outstanding common stock into the public market, or the perception that such sales or dispositions could occur; the impact of regulatory capital requirements and other regulatory requirements on the operations of WEX Bank or its ability to make payments to WEX Inc.; the possible dilution to the Companys stockholders caused by the issuance of additional shares of common stock or equity-linked securities, whether as a result of the Companys Convertible Notes or otherwise; the incurrence of impairment charges if the Companys assessment of the fair value of certain of its reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of the Companys Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on February 28, 2023.
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