WEX reported second-quarter 2026 results with revenue of $753.5 million, up 14.2% year-over-year, and GAAP diluted EPS of $3.11. Adjusted net income per diluted share was $5.35, a 35.4% increase versus the prior year, and the company raised full-year 2026 revenue and adjusted EPS guidance. Management cited strong fuel prices and continued share repurchases while prioritizing deleveraging and returning capital to shareholders.

Financial Highlights

  • Total revenue: $753.5 million for Q2 2026, up 14.2% year-over-year (includes $63.8 million favorable impact from fuel prices and $2.1 million from FX).
  • Operating income: $203.2 million for Q2 2026; GAAP operating income margin reported at 27.0% (Q2 2025: 23.8%).
  • Adjusted operating income and margin: Adjusted operating income of $298.6 million with adjusted operating income margin of 39.6% for Q2 2026 (Q2 2025: $243.0 million, 36.8%).
  • Net income attributable to shareholders: $108.5 million, or $3.11 per diluted share (GAAP) for Q2 2026; adjusted net income per diluted share: $5.35 for Q2 2026 (adjusted net income $186.5 million).
  • Guidance raised: Full-year 2026 revenue now expected $2.86B–$2.90B; adjusted net income guidance $689M–$703M, or $19.68–$20.08 adjusted diluted EPS.

Business Highlights

  • Total volume across all segments: $68.9 billion in Q2 2026, up 15.7% year-over-year.
  • Mobility segment: Revenue $422.4 million (up 22.0%); payment processing transactions of 139.3 million and segment adjusted operating income margin of 43.2%.
  • Benefits segment: Revenue $206.0 million (up 5.6%); average SaaS accounts 21.7 million (up 2.2%); average HSA custodial cash assets $5.2 billion (up 11.1%).
  • Corporate Payments segment: Revenue $125.1 million (up 5.8%); purchase volume $19.8 billion (down 3.6%) while total volume processed rose 4.5% to $38.6 billion.
  • Capital allocation and liquidity: Approximately $60 million of share repurchases in Q2 and ~$93 million from May through July 20; leverage ratio per Credit Agreement was 2.9x at June 30, 2026 (down from 3.1x at March 31).

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.