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WEX issues outlook for Q1'19, FY'19

WEX Inc. issued its guidance on revenue and adjusted net income for the first quarter and full year 2019.

For the first quarter, WEX is expecting revenues of $375 million to $380 million and adjusted net income to range from $72 million to $74 million, or $1.64 to $1.70 per share. In the year-ago period, the company recorded revenues of $354.8 million and adjusted net income attributable to common shareholders of $78.7 million, or $1.81 per share.

For full-year 2019, WEX is expecting revenues of $1.68 billion to $1.72 billion and adjusted net income of $385 million to $403 million, or $8.80 to $9.20 per share. For full-year 2018, the company recorded total revenues of $1.49 billion and adjusted net income attributable to common shareholders of $360.9 million, or $8.28 per share.

The company said its first-quarter and full-year 2019 guidance is based on an assumption that the average U.S. retail fuel price will be $2.60 per gallon and $2.63 per gallon for the respective periods.

WEX recorded fourth-quarter 2018 net income attributable to shareholders of $21.3 million, or 49 cents per share, compared to $87.2 million, or $2.02 per share, in the year-ago period. On a non-GAAP basis, it recorded adjusted net income of $91.8 million, or $2.11 per share, compared to $68.0 million, or $1.57 per share, in the fourth quarter of 2017.

The company reported full-year 2018 net income attributable to shareholders of $168.3 million, or $3.86 per share, compared to $160.1 million, or $3.71 per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimates for the fourth quarter and full year 2018 were $2.09 and $8.18, respectively.