Jun 2026 (Q2 FY26) — Jul 23, 2026
WEX Q2 FY26 — Strong Performance Exceeding Guidance and Accelerated Share Repurchases
Read the full callWEX earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 754 | +14.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 27.0 | +3.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 109 | +59.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
21 of 22 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Leverage ratio target (below 3x) | below 3x, expected in Q2 or Q3 FY26 | Dec 2025 | Now that we have achieved our leverage goal of less than 3x and did so quicker than anticipated, we're in a stronger position to return more capital to shareholders. | Achieved |
| FY26 full-year adjusted net income (ANI) EPS guidance | $17.25 to $17.85 per diluted share | Dec 2025 | We expect adjusted net income EPS to be between $19.68 and $20.08 per diluted share. | Revised Up |
| Completion of deferred and contingent M&A payments (Benefits segment acquisitions) | substantially completed as of the end of Q1 FY26 | Dec 2025 | Pending |
1 of WEX Inc.'s 45 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 42 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $155.79 on 22 Oct 2025 → $197.46. High $203.25 (24 Aug 2026), low $126.86 (17 Jun 2026).
Overview
Guidance
21 of 22 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Leverage ratio target (below 3x) | below 3x, expected in Q2 or Q3 FY26 | Dec 2025 | Now that we have achieved our leverage goal of less than 3x and did so quicker than anticipated, we're in a stronger position to return more capital to shareholders. | Achieved |
| FY26 full-year adjusted net income (ANI) EPS guidance | $17.25 to $17.85 per diluted share | Dec 2025 | We expect adjusted net income EPS to be between $19.68 and $20.08 per diluted share. | Revised Up |
| Completion of deferred and contingent M&A payments (Benefits segment acquisitions) | substantially completed as of the end of Q1 FY26 | Dec 2025 | Pending |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 45 tracked commitments, with each call’s wording and source.
Call summaries
WEX Q2 FY26 — Strong Performance Exceeding Guidance and Accelerated Share Repurchases
Read the full callWEX Q1 FY26 — Strong Start Exceeding Guidance, Driven by Execution and AI-led Efficiency
Read the full callEvery analysed call
Financials
Net profit, year on year: +59% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 666 | 636 | 637 | 660 | 692 | 673 | 674 | 754 |
| Operating profit | 196 | 157 | 157 | 157 | 184 | 166 | 158 | 203 |
| Operating margin | 29.5% | 24.7% | 24.7% | 23.8% | 26.5% | 24.7% | 23.5% | 27.0% |
| Profit before tax | 141 | 81 | 100 | 93 | 116 | 110 | 109 | 151 |
| Tax rate | 27.1% | 20.7% | 28.8% | 27.0% | 31.1% | 23.4% | 28.4% | 27.8% |
| Net profit | 103 | 64 | 72 | 68 | 80 | 84 | 78 | 109 |
| EPS ($ per share) | 2.56 | — | 1.84 | 1.98 | 2.34 | — | 2.25 | 3.13 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Reserves | 1,482 | 1,539 | 1,287 | 1,289 | 1,491 | 1,757 | 2,067 | 2,371 |
| Total liabilities | 4,975 | 6,205 | 6,148 | 8,214 | 9,880 | 12,062 | 11,833 | 13,165 |
| Fixed assets | 188 | 212 | 188 | 180 | 202 | 243 | 261 | 254 |
| Investments | — | — | 0 | 949 | 1,395 | 3,022 | 3,765 | 4,333 |
| Total assets | 6,771 | 8,298 | 8,183 | 10,307 | 11,529 | 13,882 | 13,322 | 14,400 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 400 | 663 | 737 | -43 | 679 | 908 | 481 | 454 |
| Cash from investing | -254 | -991 | -329 | -1,601 | -717 | -2,138 | -961 | -697 |
| Cash from financing | -103 | 750 | -59 | 1,596 | 681 | 1,573 | -260 | 419 |
| Net cash flow | 33 | 426 | 348 | -73 | 603 | 370 | -793 | 241 |
| Capital expenditure | -87 | -103 | -80 | -86 | -113 | -144 | -147 | -141 |
| Free cash flow | 313 | 560 | 656 | -129 | 567 | 764 | 334 | 314 |
Mobility grew from 46% to 48% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Mobility | 46% | 21% | 43% | 43% | 43% | 42% | 51% | 48% | +25.4% |
| Benefits | 29% | 41% | 35% | 32% | 31% | 33% | 32% | 29% | +1.0% |
| Corporate Payments | 25% | 38% | 22% | 25% | 27% | 26% | 17% | 24% | +6.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
204 filings between Nov 13, 2025 and Oct 5, 2026.
Purchases
$358.7K
2 purchases by 2 insiders
Sales
$10.78M
40 sales by 7 insiders
70% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Smith Melissa D | — | $5.34M | Sep 1, 2026 |
| Deshaies Robert Joseph | — | $1.89M | Oct 5, 2026 |
| Dearborn Joel Alan JR | — | $1.81M | Sep 14, 2026 |
| Drew Ann Elena | — | $598.5K | Jul 27, 2026 |
| Carriedo Carlos | — | $451.8K | Aug 4, 2026 |
| Kimball Jennifer | — | $411.8K | Jul 27, 2026 |
| Trickett Sara | — | $272.2K | Feb 25, 2026 |
| GROCH JAMES R | $214.4K | — | May 18, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 615 | $107.6K |
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 88 | $15.5K |
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 48 | $8.2K |
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 98 | $16.6K |
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 549 | $95.3K |
| Oct 5, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 602 | $103.9K |
| Sep 30, 2026 | Adams Kurt Patrick Director | Award | 125 | — |
| Sep 30, 2026 | GROCH JAMES R Director | Award | 155 | — |
| Sep 30, 2026 | Callahan Don Director | Award | 155 | — |
| Sep 30, 2026 | Wolfe Lauren Taylor Director | Award | 125 | — |
| Sep 14, 2026 | Dearborn Joel Alan JR COO, International | Option exercise 10b5-1 plan | 843 | $88.5K |
| Sep 14, 2026 | Dearborn Joel Alan JR COO, International | Sale 10b5-1 plan | 843 | $168.6K |
| Sep 14, 2026 | Dearborn Joel Alan JR COO, International | Sale 10b5-1 plan | 2,500 | $500.0K |
| Sep 1, 2026 | Smith Melissa D CEO and President | Sale 10b5-1 plan | 180 | $33.6K |
| Sep 1, 2026 | Smith Melissa D CEO and President | Sale 10b5-1 plan | 11,109 | $2.12M |
| Sep 1, 2026 | Smith Melissa D CEO and President | Sale 10b5-1 plan | 7,575 | $1.44M |
| Sep 1, 2026 | Smith Melissa D CEO and President | Sale 10b5-1 plan | 9,245 | $1.75M |
| Sep 1, 2026 | Smith Melissa D CEO and President | Option exercise 10b5-1 plan | 4,922 | $490.7K |
| Sep 1, 2026 | Smith Melissa D CEO and President | Option exercise 10b5-1 plan | 23,187 | $2.43M |
| Aug 4, 2026 | Carriedo Carlos COO, Amer. Payments & Mobility | Sale | 1,075 | $199.9K |
| Jul 30, 2026 | Deshaies Robert Joseph COO, Benefits | Sale | 1,000 | $184.9K |
| Jul 27, 2026 | Kimball Jennifer Chief Accounting Officer | Sale | 1,183 | $208.9K |
| Jul 27, 2026 | Drew Ann Elena Chief Risk and Compliance | Sale | 3,400 | $598.5K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 135 | $19.8K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 227 | $33.1K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 8 | $1.2K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 265 | $39.2K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 1,317 | $196.6K |
| Jul 6, 2026 | Deshaies Robert Joseph COO, Benefits | Sale 10b5-1 plan | 48 | $6.9K |
| Jun 30, 2026 | Adams Kurt Patrick Director | Award | 79 | — |
| Jun 30, 2026 | GROCH JAMES R Director | Award | 186 | — |
| Jun 30, 2026 | Callahan Don Director | Award | 186 | — |
| Jun 30, 2026 | Wolfe Lauren Taylor Director | Award | 79 | — |
| Jun 17, 2026 | Carriedo Carlos COO, Amer. Payments & Mobility | Option exercise | 391 | $0 |
| Jun 17, 2026 | Trickett Sara Chief Legal Officer | Tax withheld | 23 | $3.0K |
| Jun 17, 2026 | Trickett Sara Chief Legal Officer | Option exercise | 75 | $0 |
| Jun 17, 2026 | Trickett Sara Chief Legal Officer | Tax withheld | 29 | $3.8K |
| Jun 17, 2026 | Trickett Sara Chief Legal Officer | Option exercise | 98 | $0 |
| Jun 17, 2026 | Carriedo Carlos COO, Amer. Payments & Mobility | Tax withheld | 174 | $22.8K |
| May 28, 2026 | Deshaies Robert Joseph COO, Benefits | Sale | 1,200 | $173.8K |
| May 18, 2026 | GROCH JAMES R Director | Purchase | 1,500 | $214.4K |
| May 15, 2026 | Callahan Don Director | Option exercise | 1,567 | $0 |
| May 15, 2026 | GROCH JAMES R Director | Option exercise | 1,567 | $0 |
| May 15, 2026 | Cardwell Aimee Director | Option exercise | 1,567 | $0 |
| May 15, 2026 | Roman Derrick A. Director | Option exercise | 1,567 | $0 |
| May 15, 2026 | Smith Stephen Montgomery Director | Option exercise | 1,567 | $0 |
| May 15, 2026 | Sobbott Susan Director | Option exercise | 1,567 | $0 |
| Apr 16, 2026 | Dearborn Joel Alan JR COO, International | Sale 10b5-1 plan | 3,500 | $612.5K |
| Apr 1, 2026 | Dearborn Joel Alan JR COO, International | Sale 10b5-1 plan | 675 | $102.9K |
| Apr 1, 2026 | Dearborn Joel Alan JR COO, International | Sale 10b5-1 plan | 93 | $13.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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