wex company benefits

9 Best Gas Credit Cards for US Fleets in 2023 Reviewed - Expert Market US This reflects continued strength in the consumer travel demand, and we are very pleased with these results. View all pros & cons. Our objective is to create a universal network of EV charging stations similar to our fuel acceptance network. Our card works at a variety of merchants. Thanks, Tien-Tsin, for the question. Your next question comes from the line of Dave Koning with Baird. Please go ahead. We continue to drive strong growth, resulting in Q1 revenue of $164.9 million. Where does it work? Adjusted earnings of $3.31 per share surpassed the Zacks Consensus Estimate by 3.4% and our . Let me start with an update on our electric vehicle initiatives. Values of the benefits may change over time. WEX to Benefit from benefitexpress Acquisition: Here's How We are aware in monitoring what's happening within the marketplace. We will also notify participants when their new login page is live and include any other relevant changes to contact information. WEX is off to a great start in 2023. Working At WEX: Employee Reviews And Culture - Zippia WEX has 5 employees across 31 locations and $2.35 b in annual revenue in FY 2022. . Get special fuel discounts and save on products and services for your business. So really, really strong still conversations within our customer base. AllBiz Business Profile Search Background Check. Discovery Benefits | WEX Inc. Okay. Official list of employee benefits from WEX Inc.. Health insurance benefits, vacation policy, retirement benefits and more. The rating our clients gave our single-source employee benefits and COBRA administration hub. Will my recurring payment for premiums continue? You should not place undue reliance on these forward-looking statements, all of which speak only as of today. The only place that we've seen a slowdown is in that of the over-the-road customer base, and I talked about same-store sales being negative 2%. HSA funds are payroll-deducted (and company-matched, if applicable) and loaded to the employee's WEX account. And so with the rise of interest rates, we saw the impact of that. The biggest piece of that is some of the larger customers. We continue to see travel volumes in April in line with our forecast. Fleet fuel cards have many impactful benefits like data-tracking capabilities and more. [8], WEX Fleet provides vehicle fleet customers with fuel cards and data and telematics offerings for drivers. But even the construction trades within our portfolio were up a couple of percent. This allows us to see the company through a different lens or perspective than we normally would. Simply select your account type below and you'll be sent to the login page for your Benefits account. In total, adjusted operating income margin for the company was 37.6%, which is down from 39.2% last year, largely driven by much higher margins in both the Corporate Payments and Benefits segments . Participants can continue to contact our Participant Services team at 866-451-3399 Monday through Friday from 6 a.m. to 9 p.m. Central time, or by emailing customerservice@wexhealth.com. WEX Inc. Reports First Quarter 2023 Financial Results And then we look at geographic expansion capabilities, and so there's an active mix across those categories. Your next question comes from the line of Bob Napoli with William Blair. Specifically in the Corporate Payments space, I'd say it's more acute there than some of the other areas of the business. Total revenue came in at $612 million, an 18% increase over Q1 2022 with more than 80% of revenue for the quarter recurring in nature. And so an area that we will continue to invest and evolve. You can also access your account from the COBRA mobile app. Any clarity on how that spread might behave here in the next couple of quarters? ERGs drive diversity by fostering new bonds and communities across the company. They were not a party to our credit facility nor counterparties to our hedging relationships. Website: Size: 50 - 100 Revenue: $10M - $50M . Revenue: $1 to $5 billion (USD) Competitors: FLEETCOR, Comdata, U.S. Bank. Your next question comes from the line of Darrin Peller with Wolfe Research. Yes. Suite 600 Schaumburg, IL 60173 PHONE: 877-837-5017 EMAIL: help@mybenefitexpress.com News 04/14/2023 Employee Benefit Acronyms Part 3 of 3 Everybody in the employee benefits field uses acronyms like ALE, MLR, and ACA, but what do these and other employee benefits acronyms stand for? Manager in Human Resources. We are assuming that you see a trail off in travel growth in the second half of the year. As with prior quarters, this quarter shows the strength of our global commerce platform, the competitiveness of our offerings and the power of our business model. The company operates in three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. I just want to make sure I understood that no impact on deposit funding from a WEX Bank standpoint. There seems to be some ongoing spot rate stabilization in the freight industry, but we're expecting these kind of rates going forward. www.discoverybenefits.com. . WEX rewards excellence, hard work, and innovation by providing qualified . Okay. And so it's been negative for a few quarters now. We've definitely looked at this business similar to the way that we look at everything else. So we should see these kind of interchange levels as we flow through the year. They encourage questions and curiosity. Total volume across the company came in at $52.3 billion, up . And so I'd say, so far so good in what we're seeing with that business, and it's something we're going to continue to learn and evolve. If you already use the app, just log in with your existing username and password. How Much Does WEX Pay in 2023? (1,334 Salaries) | Glassdoor WEX Inc. WEX yesterday announced that it has inked a deal to purchase benefitexpress for a sum total of nearly $275 million. benefitexpress is based in Schaumburg, Illinois. Click the links below to log in to a participant or employer accounts (formerly Discovery Benefits, LLC, a WEX Company). WEX Q1 Earnings and Revenues Beat Estimates, Increase Y/Y Got you. Finally, let's move to revenue and earnings guidance for the second quarter and the full year. The revenue increase in the quarter includes a $1.3 million favorable impact from fuel prices and spreads and a $4.3 million unfavorable impact from foreign exchange rates. 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. Our platforms areSee this and similar jobs on LinkedIn. Total segment revenue for the quarter increased 36% to $104.8 million. Please see Exhibit 1 of the press release for an explanation and reconciliation of these non-GAAP measures. How does it work? Login - WEX Health 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. And we have made changes with our credit approval processes, both for the over-the-road business and our traditional retail business, to tighten credit standards in keeping with this idea that we're anticipating or planning for a slow-growth environment in the second half of the year. WEX Overview 753 Reviews 213 Jobs 1.3K Salaries 109 Interviews 315 Benefits 4 Photos 305 Diversity Follow + Add a Salary WEX Salaries How much do WEX employees make? We have 2 primary products that we have within the Corporate Payments space. So I think that provides evidence that our funding sources remain quite strong. The fraud remediation activities that I've spoken about in prior quarters, which include working with the truck stop operators, continuing to enhance our fraud detection tools and releasing fraud-focused product enhancements appear to be delivering a fraud reduction impact as intended. The company continues to have a significant presence in South Portland. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. 3 reasons we see people flipping to a fuel card: Apply Now Okay. Where does it work? Yes. I would say -- I would just add that -- a reminder that we project -- we gave guidance of 10% to 15% growth rate for the travel and Corporate Payments or the Corporate Payments segment overall. Total volume processed across the organization in the first quarter grew 17% year-over-year to $52.3 billion driven by strong performance in our Corporate Payments and Benefits segments. So I guess 2 questions. While our name and branding will change, your service experience will not be impacted by these changes. WEX Inc. Reports First Quarter 2023 Financial Results - Yahoo Finance 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.. I mean I know that this has been asked a bit, but I just want to understand a little bit more on the strategy of the business outside of the OTAs. So again, not necessarily because we're seeing that trend within our portfolio, but consistent with what we had said in the last quarter. Yes. 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. We signed one of the largest administrators of multiemployer benefit funds in the Midwest. WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more | Set your business free by . Approximately $26 million of the revenue increase in this segment is due to the average interest rate earned on these balances increasing from 1.24% last year to 3.9% this year. Our investments in data and advanced analytics, for example, are benefiting customers across our platform. We currently have approximately 85% of our cloud migration completed. So we -- this is something we watch closely, given the overall discussion about the macro economy. And then my last question, just on capital allocation. Working at WEX Inc.: 52 Reviews about Pay & Benefits - Indeed But when you look into the individual SIC code, like construction still grew same-store sales 2% year-over-year. We have hundreds of customers that are using the product. The domestic fuel price in Q1 2023 was $3.86 versus $3.90 in 2022. I mean that's obviously impressive. It's been a great part of our business. Strong quarterly revenue, paired with the scalability of our business model and a superior funding model, resulted in adjusted net income per diluted share of $3.31, an increase of 15% compared to the same quarter last year. And that's split roughly evenly between HSA deposits and non-HSA deposits. Mihir, I would just add, like I said, the travel trend into April continues as expected, and we've seen the same thing with fleet gallons as well has continued into April, in line with our expectations. When we plan the year, we look at what do we have for existing customers to the kind of the run rate of revenue that come into the year. WEX Inc. (WEX Quick Quote WEX - Free Report) delivered better-than-expected first-quarter 2023 results. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Do you feel like you have the capabilities internally at this point that you need to grow that direct business? . And we're providing critical flexibility that allows them to choose from a suite of customized solutions that best set the unique needs of their business. Discovery Benefits is now a part of WEXinc and you can log into your account using the links below.

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