WEX Inc. reports results on Wednesday 28 October, after the market closes. Growth is speeding up: revenue over the twelve months to Q2 2026 was $2.8 billion, which rose 7.5% on the year before.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | $4.59 | $4.45 |
| Dec '25 | $4.11 | $3.93 |
| Mar '26 | $4.15 | $4.10 |
| Jun '26 | $5.35 | $5.07 |
What analysts expect
Analysts have been raising their forecasts going into the report. For the quarter, the analysts’ average EPS estimate is $5.66, in a range from $5.46 to $5.97. The average revenue estimate for the quarter is $749.7 million. Alongside that, the analysts’ average estimate for full-year EPS is $20.14, which would be up 25.1% on last year (based on 11 analysts). That estimate has risen 4.1% over the past 90 days. Of the analysts’ recommendations, 5 are positive, 10 neutral and 0 negative.
Company guidance
In its latest earnings release, management set full year 2026 adjusted net income per diluted share guidance at $19.68 to $20.08. In its latest earnings release, management set third quarter of 2026 adjusted net income per diluted share guidance at $5.45 to $5.65. Meanwhile, in its latest earnings release, management set full year 2026 revenue guidance at $2.9 billion to $2.9 billion. In its latest earnings release, management set third quarter of 2026 revenue guidance at $733.0 million to $753.0 million.
Earnings surprise model
The model estimates EPS could land above the analysts’ average estimate by 1.9%. Its estimated chance of an EPS beat is 75.0%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Track record against estimates
The company reported EPS above the analysts’ average estimate in 4 of the last 4 quarters. Last quarter, EPS of $5.35 compared with an estimate of $5.07, above it by 5.5%.
The trends going in
Profit and cash are telling different stories: earnings rose while cash flow fell. That growth rate was up 4.2 percentage points on the rate a quarter earlier. The trailing gross margin was 59.6%. The trailing operating margin was 25.5%, down 0.2 percentage points from a year earlier. The trailing net margin was 12.6%. Net income over the twelve months was $350.8 million, which rose 14.5% on the year before.
Cash flow
The average diluted share count fell 9.6% over the year.
How today compares
In the context of past results: today’s operating margin of 25.5% is higher than 52% of the company’s own past quarterly readings, which have ranged from −7.5% to 42.8%. Today’s twelve-month revenue growth rate of 7.5% is higher than 28% of past readings (−13.2% to 47.3%).
Questions this report will answer
Whether the pick-up in revenue growth continues. Whether results land above or below the analysts’ expectations set out above. At the same time, Whether margins hold at the trailing levels above. The next filing will show whether the trends above continue, slow or reverse.
What it means for our valuation
These trends feed directly into what the shares are worth in our model. In our model, growth 5 percentage points lower would lower the value by 12.3%, and 5 percentage points higher would raise it by 16.0%. A free-cash-flow margin 1 percentage point lower would lower it by 46.4%.
