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Pros and Cons of WEX Benefits 2023 - TrustRadius Cash flows from operating activities through the first quarter of this year are $27.1 million. Skip to content. Robert W. Baird increased their price objective on WEX from $222.00 to $236.00 in a research note on Friday. WEXers approach every opportunity with ingenuity, curiosity, and tenacity. 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. WEX Inc. - WEX Completes Acquisition of benefitexpress We used multiple vendors and our employees a variety of vendors and banks they could set up their accounts with. Participants Accounts HSA, FSA, HRA/Wellness & Commuter We make it easy to pay and get paid across your entire organization. Technology? 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. After Feb. 26, go to wexinc.com, hover over Solutions and select Participants/Employees. WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more | Set your business free by . WEX data shows that a contribution of as little as $50 or more by employers will encourage HSA participation by employees. The Company's non-GAAP adjusted operating income excludes acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, and other costs. Mobility revenues were up 7% year over year to $342.3 million. Our passion for continuous innovation and our unparalleled level of service were further fueled when Discovery Benefits . WEX Health also helps us manage all the necessary communications for COBRA administration while keeping us compliant with government rules and regulations. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. 3 reasons we see people flipping to a fuel card: Apply Now We never really had one place for all of our HSA, FSA and COBRA needs. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. Drawn from diverse cultures and experiences, we always seek a better way. Health plans HR and benefits technology Reviewers felt that Workday HCM meets the needs of their business better than WEX Benefits. Corporate Payments revenues of $104.8 million were up 36% year over year. 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. In addition, since debt issuance cost amortization is dependent upon the financing method, which can vary widely company to company, we believe that excluding these costs helps to facilitate comparison to historical results as well as to other companies within our industry; The adjustments attributable to non-controlling interests, including adjustments to the redemption value of a non-controlling interest, have no significant impact on the ongoing operations of the business; The tax related items are the difference between the Companys GAAP tax provision and a pro forma tax provision based upon the Companys adjusted net income attributable to shareholders before taxes as well as the impact from certain discrete tax 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. The COVID-19 National Emergency is over. Period. WEX Health has made administration of FSA, HSA, and COBRA so much easier, I feel confident that WEX Health is compliant, as a company, and that they keep us compliant, We are always able to call and talk to a knowledgeable representative when we have questions. Net income attributable to shareholders on a GAAP basis decreased by $54.8 million to a net income of $68.0 million, or $1.56 per diluted share for the first quarter of 2023, down 42% compared with net income of $122.8 million, or $2.71 per diluted share, for the first quarter of 2022. Our card works at a variety of merchants. Military veterans possess invaluable leadership skills and business acumen. Weve got it. Listen (or watch) and subscribe to Benefits Buzz Apple Spotify During the first quarter of 2023 the Company repurchased approximately 525,000 shares of its stock for a total cost of approximately $93 million. Benefits revenues of $164.9 million registered 36% year-over-year growth. I really like the reports that it generates and the detail it gives. Visit www.zacksdata.com to get our data and content for your mobile app or website. Welcome to your single source for all you need to know about your benefit account (s). You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. 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. With other vendors, I feel like a client. 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. 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. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year. Discovery Benefits, Inc. Is Now WEX | Bridge - TriHealth and the Health and Employee Benefits Solutions segment will now be renamed to Benefits. WexLocationCode.setTransientValue("wex02"); Only the fastest, easiest, most secure B2B payments solution will do. 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. WEX benefits account resources Participants HSA, FSA, HRA/Wellness & Commuter login Non-employer Individual HSA login COBRA, Retiree & Leave of Absence Member login Participant Knowledgebase WEX Benefits Login Simply select your account type below and you'll be sent to the login page for your Benefits account. Companies can't remove reviews or game the system. You also can log into your account through the Discovery Benefits mobile app, using your existing username and password. Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow. WEX Vets Match your military skills Make WEX your next career move At WEX, we recognize the true value of experience-acquired skills. However I would like to see more details. Real time prices by BATS. The midpoint of the guided range is the same as the current Zacks Consensus Estimate of $2.47 billion. For each period presented, $3.8 million of interest expense associated with our convertible notes, net of tax, was added back to adjusted net income attributable to shareholders, and approximately 1.6 million shares of the Companys common stock associated with the assumed conversion of the convertible notes were included in the calculation of adjusted net income attributable to shareholders per diluted share, as the effect of including such adjustments was dilutive. Our continued business momentum gives me further confidence in our ability to execute against our growth strategy and achieve our long-term financial targets, even in dynamic macroeconomic environments.. Currently, WEX carries a Zacks Rank #4 (Sell). We use WEX Health for our FSA, HSA, and COBRA administration. Focusing on diversity also means focusing on inclusion. We use cookies to understand how you use our site and to improve your experience. WEX Benefits Login | WEX customer login | WEX Inc. WEX Health helps us accurately manage funding for FSAs and HSAs, and allows our employees to manage their own accounts. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. 1 MarketScreener is worth more than 1000 Influencers! 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. 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. . WEX Inc. Reports First Quarter 2023 Financial Results We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. You can seethe complete list of todays Zacks #1 (Strong Buy) Rank stocks here. However, because adjusted net income attributable to shareholders, adjusted operating income and total segment adjusted operating income are non-GAAP measures, they should not be considered as a substitute for, or superior to, net income, operating income or cash flows from operating activities as determined in accordance with GAAP. John Levitsky, executive vice president, Mastercard. WEX SPARK 2023 is our annual learning and networking event that focuses on new technologies and emerging industry trends meant to simplify payments, fleet management, and benefits administration and help fuel business growth. Forgot Password. Stay up-to-date on the latest trends and insight regarding your employee benefits on our blog or subscribe to our podcast. Username. You can seethe complete list of todays Zacks #1 (Strong Buy) Rank stocks here. Organisation ID. Mobility revenues were up 7% year over year to $342.3 million. To determine the estimated adjusted net income attributable to shareholders impact of PPG, revenue and certain variable expenses impacted by changes in fuel prices were adjusted based on the average retail price of fuel for the same period in the prior year for the portion of our business that earns revenue based on a percentage of fuel spend, net of applicable taxes, exclusive of revenue and expenses derived from acquisitions for one year following the acquisition dates.
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