If used elsewhere, you may need to upload supporting documentation (depending on your benefits plan). MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. Were here to help your business succeed. Looking to manage employee benefits, streamline how you pay and get paid by suppliers, save on fuel costs, or modernize how you manage your fleet? With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. I would like to see where exactly the employees spent their HSA funds. We offer partners the ability to configure their security and fraud prevention infrastructure in a way that best serves them. 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. WEX Benefits Login Simply select your account type below and you'll be sent to the login page for your Benefits account. Administrative fee invoices and plan funding balances at your fingertips. 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). Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Employee Wellness - WEX Benefits You This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. WEX | Reset Password However, general IT issues seem to have plagued my experience using WEX. HSA Day - National HSA Awareness Day The midpoint of the guided range is the same as the current Zacks Consensus Estimate of $2.47 billion. How does your program . WEXers approach every opportunity with ingenuity, curiosity, and tenacity. This company could rival or surpass other recent Zacks Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. We use cookies to understand how you use our site and to improve your experience. Partner account executives. WEX Health, Inc. | Complaints | Better Business Bureau Profile 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. The WEX Benefits platform helps employers with tracking bonus payments and settlements, automating layoffs and elections, managing employee questions and issues in the COBRA Employer Portal. However I would like to see more details. Military veterans possess invaluable leadership skills and business acumen. WEX Inc.(WEX Quick QuoteWEX - Free Report) delivered better-than-expected first-quarter 2023 results. WEX Benefits Login | WEX customer login | WEX Inc. This includes personalizing content and advertising. But you'll continue to use the same online account, mobile app, and debit card you have today, and will continue to contact the same participant services team. Management believes that investors may find these measures useful for the same purposes, but cautions that they should not be considered a substitute for, or superior to, disclosure in accordance with GAAP. When your card expires, or you report your card lost or stolen, you will receive a WEX benefits card. Copyright 2023 Surperformance. We formerly used TASC and it was a nightmare. We run report off of it and it helps us track how much employees have spent out of their own individual accounts. You could save money by investing in benefits and wellness to reduce employee turnover. WEX was formerly known as Discovery Benefits, LLC. ADP Workforce Now is a cloud-based HR platform for mid-sized businesses. Our customers bring us their complex challenges. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. WEX offers technology and customized solutions that meet employers end-to-end benefits needs and power partners thriving benefits offerings. 45% of employees cited salary or employee benefits as their reason for leaving. Welcome to WEX! Benefits average number of Software-as-a-Service accounts were up 14% to 20.3 million year over year. (unaudited), Securitized accounts receivable, restricted, Prepaid expenses and other current assets, Property, equipment and capitalized software, Accrued expenses and other current liabilities, Total liabilities and stockholders equity, WEX INC. Login - WEX Health For example, they seem to require you to make a new password every few months, which made even just logging in a nightmare (I don't like to save passwords for financial accounts to my browser). Easy-to-complete non-discrimination testing to keep your plans compliant. Global commerce platform simplifying business complexity | WEX Inc. Existing Users Username Forgot Username? John Levitsky, executive vice president, Mastercard. Adjusted net income is expected between $3.45 and $3.55 per share. These are just a few of the dedicated teams we have in place to ensure you have the best experience. It is a great tool for our employees to easily sign up and manage their HSA and FSA accounts. Any statements in this earnings release that are not statements of historical facts are forward-looking statements. WEX (NYSE:WEX) Price Target Raised to $190.00 - MarketBeat Type a symbol or company name. WEX helps you innovate at scale. The WEX Difference Customizable dashboard reporting and analytics to learn account trends. Email. About WEX Powered by the belief that complex payment systems can be made simple, WEX is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel, and healthcare. Create your Watchlist to save your favorite quotes on Nasdaq.com. Adjusted net income is now expected between $13.85 and $14.25 per . . For employees the WEX Flex benefit , We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. The travel industry is evolving. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. Your current debit cards and previous correspondence should already have WEX name and logo. (2) Payment processing gallons of fuel represents the total number of gallons of fuel purchased by fleets that have a payment processing relationship with WEX. Benefits administration 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. 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. Get Started Contact Us - Call . WexLocationCode.setTransientValue("wex02"); Username Forgot Username? . WEX Health (formerly Evolution1) provided the organization with Flex benefit management and Cobra. Gusto offers payroll, benefits and compliance capabilities. Existing User. These symbols will be available throughout the site during your session. The top line increased 1% year over year. Login. Browse our category menus to discover hundreds of online resources frequently used by faculty and staff, or use the search to find people. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Cash flows from operating activities through the first quarter of this year are $27.1 million. Through meaningful networking, innovative learning, and strategic discussions at SPARK 2023, leaders collectively help simplify the complexities of payment systems. Equifax(EFX Quick QuoteEFX - Free Report) also reported a beat on both counts in its first-quarter 2023 results. Choosing an HDHP versus a PPO/traditional health plan, 9 ways your benefits administration partner should be supporting you, Inventory Information Approval System (IIAS). Discovery Benefits is now a part of WEXinc and you can log into your account using the links below. About 150 employees. April 28, 2023, MAN Quick QuoteMAN OMC Quick QuoteOMC EFX Quick QuoteEFX WEX Quick QuoteWEX. Note that the login experience for COBRA and direct bill participants will not change on Feb. 26. Employers turn to us for their employee benefits, reimbursement account, and COBRA administration for a number of reasons including industry-leading technology, an intuitive and personalized participant experience, a multi-account debit card, access to ongoing benefits education resources, and empathetic customer service. It makes me feel I have a partner I can trust.. The following table reconciles GAAP cash flows from operating activities to adjusted free cash flow: Cash flows from operating activities, as reported. 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. Auto-renewal made easy with an intuitive setup and renewal wizard Direct access to our service experts WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. The Company provides revenue guidance on a GAAP basis and earnings guidance on a non-GAAP basis, due to the uncertainty and the indeterminate amount of certain elements that are included in reported GAAP earnings. WEX / Discovery Benefits COBRA Account Login Information You can better control these large expenses and streamline your mixed fleet operations with automation and insights from WEX. The Company's non-GAAP adjusted net income attributable to shareholders excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, change in fair value of contingent consideration, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, other costs, debt restructuring and debt issuance cost amortization, adjustments attributable to our non-controlling interests, and certain tax related items. Focusing on diversity also means focusing on inclusion. 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. Remember Me Next New User? Weve simplified the experience from all angles with streamlined administration, insightful employer analytics, and intuitive participant access points. 2 Net activity on debt includes: borrowings on revolving credit facility; repayments on revolving credit facility; repayments on term loans; net borrowing of federal funds; and net (repayments) borrowings on other debt. Privacy Policy | No cost, no obligation to buy anything ever. Setting AP department goals and measuring performance, Choosing an HDHP versus a PPO/traditional health plan, Inventory Information Approval System (IIAS). Remember Me Next. Participants Accounts HSA, FSA, HRA/Wellness & Commuter For additional information and timing of these changes, visit this webpage. 3 key themes from WEX SPARK 2023 to help you simplify the business of Currently, WEX carries a Zacks Rank #4 (Sell). Copy and paste multiple symbols separated by spaces. It is easy to use (you don't have to be super tech savvy). And were an industry leader in the technology and service you need. WEX Inc. (WEX) Q1 2023 Earnings Call Transcript File a claim, view account balance and summary information, sign up for FREE direct deposit, get email notifications, and more! The bottom line increased 14.9% year over year. Adjustments to cash flows from operating activities: Adjusted for certain investing and financing activities: Less: Purchases of current investment securities, net of sales and maturities, Impact of Certain Macro Factors on Reported Revenue and Adjusted Net Income Attributable to Shareholders. PORTLAND, Maine-- (BUSINESS WIRE)-- WEX (NYSE: WEX), a leading financial technology service provider, today announced that it has completed the acquisition of benefitexpress, a leading provider of highly configurable, cloud-based benefits administration technologies and services. EPS increased 12.2% year over year. The raised range is above the Zacks Consensus Estimate of $13.79. Full benefits administration. NASDAQ data is at least 15 minutes delayed. Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. Discovery Benefits is now WEX - WEX Benefits You WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. 1 Debit card for multiple accounts (HSA and commuter benefits accounts). 3910 Keswick Rd., Suite N2600, Baltimore, MD. The Fleet Solutions segment will now be renamed to Mobility, the Travel and Corporate Solutions segment will now be renamed to Corporate Payments, and the Health and Employee Benefits Solutions segment will now be renamed to Benefits. 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). We are renaming our existing segments in connection with a rebranding initiative. We have created a powerful ecosystem that offers seamlessly embedded, personalized solutions for . C-Level Executive in Finance and Accounting. Step 1 of 3. WEX data shows that a contribution of as little as $50 or more by employers will encourage HSA participation by employees. Management uses the non-GAAP measures presented within this earnings release to evaluate the Companys performance on a comparable basis. Keep tabs on all your benefit accounts by quickly checking your balances and details using our secure mobile app. How does your program compare? This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The top line decreased 7.6% year over year. During the first quarter of 2023 the Company repurchased approximately 525,000 shares of its stock for a total cost of approximately $93 million. However, WEX Benefits is easier to set up and administer. Username. Employees can save on hundreds of eligible healthcare expenses, like over-the-counter medications, routine healthcare visits, eyeglasses, contact lenses, sunscreen, and more. This allows us to see the company through a different lens or perspective than we normally would. 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. No setup fee Offerings Free Trial Free/Freemium Version Premium Consulting / Integration Services 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. . As a user , WEX Health (formerly Evolution1) provided the organization with Flex benefit management and Cobra. Adjusted net income is now expected between $13.85 and $14.25 per share compared with the prior expectation of $13.55 and $14.05 per share. To locate past Hub and Hub at Work articles, use the search function at the top of the page. 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. WEX Vets Match your military skills Make WEX your next career move At WEX, we recognize the true value of experience-acquired skills. (in millions) Entry-level set up fee? Currently, WEX carries a Zacks Rank #4 (Sell). 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. Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow. 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. WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. Reconciliation of GAAP Operating Income to Total Segment Adjusted Operating Income and Adjusted Operating Income, Acquisition-related intangible amortization. Adjusted operating income increased 13.4% to $230.1 million from the year-ago quarters $202.9 million. Zacks Equity Research for The following factors, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this earnings release and in oral statements made by our authorized officers: the impact of fluctuations in demand for fuel and volatility of fuel prices, including fuel spreads in the Companys international markets, and the resulting impact on the Companys revenues and net income; the effects of general economic conditions, including a decline in demand for fuel, corporate payment services, travel related services, or health care related products and services; the impact and size of credit losses, including fraud losses, and other adverse effects if the Company fails to adequately assess and monitor credit risk or fraudulent use of our payment cards or systems; failure to implement new technology and products; breaches of, or other issues with, the Companys technology systems or those of its third-party service providers and any resulting negative impact on its reputation, liabilities or relationships with customers or merchants; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Companys industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the failure to maintain or renew key customer and partner agreements and relationships, or to maintain volumes under such agreements; the effect of adverse financial conditions affecting the banking system; the failure to adequately safeguard custodial HSA assets; the failure of corporate investments to result in anticipated strategic value; the extent to which unpredictable events in the locations in which the Company or the Companys customers operate or elsewhere may adversely affect the Companys employees, ability to conduct business, results of operations and financial condition; the failure to comply with the applicable requirements of Mastercard or Visa contracts and rules; the failure to comply with the Treasury Regulations applicable to non-bank custodians; changes in interest rates and the rate of inflation; the ability to attract and retain employees; the ability of the Company to protect its proprietary rights; limitations on or compression of interchange fees; the effects of the Companys business expansion and acquisition efforts; the impact of changes to the Companys credit standards; the impact of foreign currency exchange rates on the Companys operations, revenue and income and other risks associated with operations outside the United States; the impact of the Companys debt instruments on the Companys operations; the impact of leverage on the Companys operations, results or borrowing capacity generally, and as a result of acquisitions specifically; the impact of sales or dispositions of significant amounts of the Companys outstanding common stock into the public market, or the perception that such sales or dispositions could occur; the impact of regulatory capital requirements and other regulatory requirements on the operations of WEX Bank or its ability to make payments to WEX Inc.; the possible dilution to the Companys stockholders caused by the issuance of additional shares of common stock or equity-linked securities, whether as a result of the Companys Convertible Notes or otherwise; the incurrence of impairment charges if the Companys assessment of the fair value of certain of its reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of the Companys Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on February 28, 2023.
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