What to Expect From WEX's First-Quarter 2024 Earnings Report

WEX Inc. WEX is scheduled to release its first-quarter 2024 results on Apr 25, before the bell.

The company has had a decent earnings surprise history, outperforming the Zacks Consensus Estimate in all the trailing four quarters, with an average surprise of 4.3%.

WEX Inc. Price and EPS Surprise WEX Inc. Price and EPS Surprise

WEX Inc. price-eps-surprise | WEX Inc. Quote

Q1 Expectations

The Zacks Consensus Estimate for the top line in the to-be-reported quarter is currently pegged at $654.1 million, indicating an increase of 6.9% from the year-agoactual figure.

We expect Mobility revenues to grow 6.3% to $363.9 million due to sustained robust sales momentum, favorable outcomes from pricing actions, stability in the portfolio resulting from credit policy alterations implemented a year ago, and the benefit of the Payzer acquisition.

We expect Benefits revenues to grow 10.2% to $181.8 million, driven by the expansion of custodial assets, organic customer acquisition and the Ascensus acquisition. The Corporate Payments segment is expected to increase 5.2% year over year to $110.2 million, mainly due to high consumer travel demand.

The bottom line is expected to have been positively impacted by a better operating performance. The Zacks Consensus Estimate for EPS is pegged at $3.47, which is 4.8% more than the year-ago actual figure.

What Our Model Says

Our proven model predicts a likely earnings beat for WEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they're reported with our Earnings ESP Filter.

WEX has an Earnings ESP of +0.63% and a Zacks Rank of 3.

Other Stocks to Consider

Here are a few stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.

APi Group APG: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $1.6 billion, indicating a marginal decline from the year-ago quarter. For earnings, the consensus mark is pegged at 32 cents per share, suggesting a 28% rise from the year-ago quarter’s actual. The company beat the consensus estimate in the past four quarters, with an average surprise of 5.1%.

APG currently has an Earnings ESP of +2.06% and a Zacks Rank of 1. The company is scheduled to declare its first-quarter results on May 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

FirstCash FCFS: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $845 million, indicating 10.8% growth from the year-ago quarter. For earnings, the consensus mark is pegged at $1.5 per share, suggesting a 20% rise from the year-ago quarter’s actual. The company beat the consensus estimate in the past four quarters, with an average surprise of 8.1%.

FCFS currently has an Earnings ESP of +1.11% and a Zacks Rank of 2. The company is scheduled to declare its first-quarter results on Apr 25.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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