Benefits Buzz Podcast - WEX Benefits You A weekly pulse on what's happening in the world of employee benefits. Average HSA custodial cash assets in the first quarter of 2023 were $3,676 million which is 25% higher than $2,950 million a year ago. 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. You could save money by investing in benefits and wellness to reduce employee turnover. WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. WEX shares have gained 4.2% in the past year against the 3.1% decline of theindustryit belongs to. We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. If you wish to go to ZacksTrade, click OK. About 150 employees. What if additional documentation is required? Now, I'd like to recap our business. Visit Performance Disclosure for information about the performance numbers displayed above. WEX is a good organization that works well with the business office for ease of providing funding and record keeping.
WEX "benefit" Reviews | Glassdoor It features customizable modules of various HR services that businesses can tailor to their specific needs, as well as regulatory monitoring and alerts to help businesses remain compliant. You can seethe complete list of todays Zacks #1 (Strong Buy) Rank stocks here. Drawn from diverse cultures and experiences, we always seek a better way. Only 15% of employers changed their benefits in 2021 as a result of COVID-19. Privacy Policy | No cost, no obligation to buy anything ever. PORTLAND, Maine, April 27, 2023--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 . Looking for your Discovery Benefits Login? It is easy to use (you don't have to be super tech savvy). Health plans WEX offers technology and customized solutions that meet employers end-to-end benefits needs and power partners thriving benefits offerings. Administrative fee invoices and plan funding balances at your fingertips. Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. (form 10-Q), https://www.businesswire.com/news/home/20230425006008/en/. Your WEX benefits debit card makes it easy to spend your funds on eligible expenses. WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business.
Global commerce platform simplifying business complexity | WEX Inc. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. There are no changes to the business conducted in each segment. 87% more employers changed their benefits in 2022 versus 2021. 1Q revenue increased 18% year-over-year to a first quarter record $612 million, 1Q GAAP net income was $1.56 per diluted share, down 42% year-over-year; 1Q adjusted net income attributable to shareholders increased 15% year-over-year to $3.31 per diluted share, 1Q GAAP operating income margin of 25.2% and adjusted operating income margin of 37.6%, Total volume increased 17% year-over-year to $52.3 billion. Omnicom (OMC Quick QuoteOMC - Free Report) reported better-than-expected first-quarter 2023 results. 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. The top line increased 1% year over year. Discovery Benefits is now known as WEX. Delayed Nyse MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. Financial institutions The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Existing User. That claim has now been approved, and the documentation for that claim was also used to offset and approve the 4 denied claims. You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
WEX (NYSE:WEX) Price Target Raised to $190.00 - MarketBeat WEXers approach every opportunity with ingenuity, curiosity, and tenacity. WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. 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. 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. As a user , WEX Health (formerly Evolution1) provided the organization with Flex benefit management and Cobra. Revenues of $4.8 billion missed the consensus mark by 1.3% and our estimate by a slight margin. EquifaxEFXalso reported a beat on both counts in its first-quarter 2023 results. Mobility payment processing transactions were up 4% year over year to 137.5 million. The raised range is above the Zacks Consensus Estimate of $13.79. And, we provide them with access to analysis, benchmarks, and trends drawn from one of the industrys largest pools of data. While accounting software has revolutionized accounting functions across businesses large and small, manual processes still play a big role in a huge number of accounts payable operations. Period. 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). Many veterans and those with military service have found rewarding and long careers at WEX. Type a symbol or company name. Discovery Benefits is now known as WEX. NASDAQ data is at least 15 minutes delayed. Our easy-to-use APIs in our developer portal give you access to the most complete embedded payment platforms and fintech offerings. Adjusted operating income increased 13.4% to $230.1 million from the year-ago quarters $202.9 million. This includes personalizing content and advertising. For the portions of our business that earn revenue based on margin spreads, revenue was adjusted to the comparable margin from the prior year, net of non-controlling interests and applicable taxes.
Discovery Benefits is now WEX | Hub As a result, there will be upcoming brand changes that will impact your flexible spending, health savings, and commuter benefits accounts. . 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. Save HSAs are employee-owned and all funds carry over, so employees can build their balances to prepare for big expenses. Adjusted net income attributable to shareholders is now expected to be in the range of $13.85 to $14.25 per diluted share, an increase from the prior guidance range of $13.55 to $14.05 per diluted share. 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. All fields must be completed unless marked (optional). During the first quarter of 2023 the Company repurchased approximately 525,000 shares of its stock for a total cost of approximately $93 million. EFXs adjusted earnings came in at $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. Partner account executives. Our 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. Omnicom OMC reported better-than-expected first-quarter 2023 results. 3910 Keswick Rd., Suite N2600, Baltimore, MD. Today, you can download 7 Best Stocks for the Next 30 Days. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next 30-90 days. These are just a few of the dedicated teams we have in place to ensure you have the best experience. Its a little-known chemical company thats up 65% over last year, yet still dirt cheap.
Discovery Benefits, Inc. Is Now WEX | Bridge - TriHealth Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). WEX was formerly known as Discovery Benefits, LLC. Mobility payment processing transactions were up 4% year over year to 137.5 million. Effective June 2022 Benefit Express, that currently manages all Transit and Flexible Spending Accounts (Health, Limited and Dependent Care), will now go by WEX Health Inc. or simply WEX. Corporate Payments revenues of $104.8 million were up 36% year over year. (unaudited), Change in fair value of contingent consideration, Net unrealized (loss) gain on financial instruments, Less: Net income from non-controlling interests, Change in value of redeemable non-controlling interest. For employees the WEX Flex benefit phone app was one of the best I have seen for this industry. To determine the estimated adjusted net income attributable to shareholders impact of FX on revenue and expenses from entities whose functional currency is not denominated in U.S. dollars, as well as revenue and variable expenses from purchase volume transacted in non-U.S. denominated currencies, amounts were translated using the weighted average exchange rates for the same period in the prior year, net of tax, exclusive of revenue and expenses derived from acquisitions for one year following the acquisition dates. Citigroup increased their price target on shares of WEX from $190.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, February 13th. . No setup fee Offerings Free Trial Free/Freemium Version Premium Consulting / Integration Services The raised range is above the Zacks Consensus Estimate of $13.79. Benefits revenues of $164.9 million registered 36% year-over-year growth. Participant services. Learn how your business can generate revenue by adopting digital payments technology. Note that the login experience for COBRA and direct bill participants will not change on Feb. 26. For example, a cash salary generally has a fixed and unvarying cash cost. Remember Me Next New User? The average salary for Wex International Inc employees is around $91,884 per year, or $44 per hour. Additionally, the non-cash, mark-to-market adjustments on financial instruments are difficult to forecast accurately, making comparisons across historical and future quarters difficult to evaluate; Net foreign currency gains and losses primarily result from the remeasurement to functional currency of cash, accounts receivable and accounts payable balances, certain intercompany notes denominated in foreign currencies and any gain or loss on foreign currency economic hedges relating to these items. For the full year 2023, the Company now expects revenue in the range of $2.45 billion to $2.49 billion, up from the prior guidance range of $2.43 billion to $2.47 billion. WEX's first-quarter 2023 revenues benefit . March 03, 2021. However I would like to see more details. Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. Benefits average number of Software-as-a-Service accounts were up 14% to 20.3 million year over year. Want the latest recommendations from Zacks Investment Research? Adjusted free cash flow, which is a non-GAAP measure, is negative $61.4 million for the same period, which is typically seasonally low.
WEX | Reset Password We use WEX Health for our FSA, HSA, and COBRA administration. In addition, the benefit of excess free cash flow in the fourth quarter of last year reversed during the first quarter of 2023. Offered employees educational content about HSAs, FSAs, etc. . In addition, adjusted net income attributable to shareholders, adjusted operating income and total segment adjusted operating income as used by WEX may not be comparable to similarly titled measures employed by other companies.