So it would be growth in most any environment because you get the benefit of this movement to consumer-directed health care, you've got benefit costs continuing to go up, and then we continue to build upon our distribution channel. Okay. Yes. Where does it work? We had anticipated the trend of higher late fee rates that we saw at the end of last year to continue in Q1. 4321 20th Ave S, Fargo, ND 58103. The first quarter was a very good quarter for us. Yes. The revenue is highly accretive to earnings, enabling us to perform well across a range of interest rate environment and providing some stability to navigate economic cycle. A copy of the release has also been included in an 8-K we filed with the SEC earlier this morning. We've been listening closely to the evolving needs of our commercial customers. When your card expires, or you report your card lost or stolen, we will send you a new WEX benefits card. We continue to execute well on both growing revenue and becoming more efficient servicing our customers. But I wanted to understand how fast do these signings contribute to revenues? WEX salary ranges from $47k to $284k. The acquisition is expected to be neutral to the company's adjusted . Tuition Reimbursement. WEX benefits and perks, including insurance benefits, retirement benefits, and vacation policy. Over 90% of our clients come to us seeking a better benefits experience for them and their employees. And so our expectation right now is that we will continue to grow ex PPG, ex FX at our target growth rate of 4% to 8%. Net income attributable to shareholders on . WEX Health Cloud helps to administer HSAs, HRAs, FSAs, VEBAs, COBRA, defined-contribution, wellness plans, and transit plans. How does it work? Get Started Yes. WEX Q1 Earnings and Revenues Beat Estimates, Increase Y/Y Diversity Program. We feel good about considering the amount of capital that we're deploying into that sales force results that we've seen so far, and it's an area that we expect we'll continue to ramp. We were very pleased with our SaaS accounts growth, which was up 14% in Q1 versus the prior year. We brought in our Chief Digital Officer, first time we've had one, a little over a year ago. Payment processing transactions were up 4% year-over-year. Allow employees to log in and review the details of their employee benefits program elections 24/7 and make changes and enroll in benefits as required. [7] WEX is one of ten founding corporate partners of the Roux Institute at Northeastern University, which leases a portion of the WEX headquarters campus. We believe these new agreements will be a win-win for WEX and our network partners given the significant relationships we have (inaudible) with the government and large fleet. Fill up company vehicles anywhere. We can help your team save time and money and eliminate stress. The take rate was down over last quarter primarily because of the scheme fees that we called out last quarter. There's many different use cases that are emerging even now in this early part of this process that we think that we can help facilitate. ERGs drive diversity by fostering new bonds and communities across the company. And so those are a combination of CDs, which we used to fund the business, and then HSA deposits are the 2 largest pieces of that. And kind of how do you think that is going to go through the year? But when you look into the individual SIC code, like construction still grew same-store sales 2% year-over-year. Login Now let's move to segment results, starting with Mobility. Melissa, appreciate all of the color on business development. For the full year, we expect to report revenue in the range of $2.45 billion to $2.49 billion. Continue to log into LEAP like you do today using your existing username, password and passcode to access either your benefits administration or COBRA administration. Reported anonymously by WEX employees. WEX announces the acquisition of Discovery Benefits, Discovery Benefits Facebook and Twitter accounts merge with WEX, Participants start getting notifications about upcoming brand changes, DiscoveryBenefits.com content moves to wexinc.com, New WEX-branded participant/employer login pages, Consumer benefits and COBRA online accounts, mobile apps, and benefits platform-generated emails updated to WEX branding. Specifically in the Corporate Payments space, I'd say it's more acute there than some of the other areas of the business. We are pleased with this result and are working diligently to continue on this track. The company continues to have a significant presence in South Portland. And just one follow-up question for Jagtar. And so I think we're continuing to get a little bit of benefit of that. We have $776 million of available borrowing capacity and corporate cash of $149 million as defined under the company's credit agreement at quarter end. They also will see the WEX logo and reminders about the brand change on the online account banner image. One connector exchanges demographic, enrollment and contribution data. WEX Benefits | 15,040 followers on LinkedIn. Login - WEX Health Is that -- are we still early enough in the secular shift to consumer-paid HSA that we can continue to expect big open enrollment seasons that provide momentum and visibility sort of year in and year out in your Benefits business? Wex Bank Company Overview. You will notice some changes to your online account like our updated logo and colors, but the functionality and ease of use of your account that youve come to love is here to stay. And then on the negative side was the factoring item that you mentioned. This reflects continued strength in the consumer travel demand, and we are very pleased with these results. WEX Inc. (WEX) Q1 2023 Earnings Call Transcript When we look at our deposit base and a lot of the banking turmoil that we've seen has been basically people worried about non-FDIC-insured deposits. And I'd say those contract expectations would have been built into that. Sure. And then, I guess, secondly, travel volume, per your charts, look like -- whatever it was, it was big. Click the links below to log in to a participant or employer accounts (formerly Discovery Benefits, LLC, a WEX Company). WEX Inc. Reports First Quarter 2023 Financial Results - Yahoo Finance There seems to be some ongoing spot rate stabilization in the freight industry, but we're expecting these kind of rates going forward. So we do believe that not only do we have this opportunity nascent within the existing customer base, with the products they have but we're building in the future, both through digital capability and through this migration to a mixed fleet offering that's going to create opportunity for us. So as Jagtar said, we had a really strong open enrollment season. Can you elaborate a little bit -- I guess, it's also on lines of M&A. At the same time, we've been moving aggressively to the cloud, which increases [fleet to market of] innovation and enhance scalability for our customers. The Company's adjusted net income attributable to shareholders, which is a non-GAAP measure, was $145.8 million for the first quarter of 2023, or $3.31 per diluted share, up 15% per diluted share . You can also access your account from the COBRA mobile app. WEX Benefits Platform | West Fargo ND That we expect. New users can create a new account to get started. How does it work? WEX | ADP Marketplace Where do I log in to my account? benefitexpress Benefit Express Services LLC. Starting in January, participants will receive a message after they log into their online account letting them know Discovery Benefits will be known as WEX. More broadly, as we drive our strategy of simplification and convenience in the EV space, the first phase of our EV product rollout is focused on en route charging. I wanted to ask about the Corporate Payments segment. 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 . Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. Posted 11:56:46 AM. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. www.discoverybenefits.com. We remain focused on enhancing the scalability of our platform and are on track to capture $100 million in run rate operating efficiencies by the end of 2024 with approximately half of these savings being reinvested in the business. Our commitment to providing excellent customer service to both you and your employees is unwavering. WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. WEX - 12 Photos & 264 Reviews - 4321 20th Ave S, Fargo, North - Yelp WEX | ADP Marketplace 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. Yes. No room for advancement and plenty of gray areas Customer Solutions Specialist (Current Employee) - Remote - July 5, 2022 Where do I begin? About 150. And then just on your B2B payments business, I mean, as you had called out, I know with Flume and any progress what you're seeing with the SMB customers. Let me start with an update on our electric vehicle initiatives. Total segment revenue for the quarter increased 36% to $104.8 million. Where do I log in to my online account? We currently have approximately 85% of our cloud migration completed. And one of the things that we find interesting about that part of the business is it's also really resilient. Existing Users Username Forgot Username? They're not talking about driver shortages in the way that they have in the past [inferring], but there's a slowdown within that customer base. No action is needed by you and you can keep the notice for your records. Can you just talk a little bit about where you are focusing on the M&A side right now? They want all that data so that they can really understand the total ownership -- cost of ownership for their fleet. We've looked at a range of metrics around the banks we look at -- we work with, from what's the ratio of insured to uninsured deposits, credit default swaps, things like that, just to make sure that we're prudently managing money and moving it around where appropriate to banks that we're more comfortable with. As we think even within the existing customer portfolio of products that we have, we will continue to take market share and build on that position. They were not a party to our credit facility nor counterparties to our hedging relationships. This increase of $94 million year-over-year was primarily driven by the growth of 36% in both our Corporate Payments and Benefits segment. WEX Inc. WEX delivered better-than-expected first-quarter . SOUTH PORTLAND, Maine-- ( BUSINESS WIRE )-- WEX Inc. (NYSE: WEX), a leading financial technology service provider, announced today that it has . ERGs drive diversity by fostering new bonds and communities across the company. Just in the Benefits business, you've had a couple of really strong open enrollment seasons, and obviously, these new wins. Fleet fuel cards have many impactful benefits like data-tracking capabilities and more. Purchase volume issued by WEX was $18.6 billion, which was an increase of 58% versus last year. During the event, our leaders shared some of these pain points to our audience of about 1,200 attendees gathered in San . WEX can help simplify these challenges today, and we are innovating to anticipate and address those of tomorrow. Yes. Based on 17 WEX Benefits reviews. Login If used elsewhere, you may need to upload supporting documentation (depending on your benefits plan). The CDs, it's interesting, even in '08 when there was a real freeze in the banking marketplace, people moved money into the CD market, and so it's a really stable source of funding. And we saw a negative 2% same-store sales within the over-the-road business.
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