WEX Inc. (WEX) shares plummeted 10.73% in after-hours trading on Wednesday after the company reported lower-than-expected fourth-quarter profit and a substantial credit loss provision.
The payment processing company reported operating income of $157.3 million for the fourth quarter. However, its pretax profit of $80.5 million fell short of analysts' expectations of $168.5 million.
WEX also recorded a provision for credit losses of $15.6 million during the quarter, further weighing on its financial performance. The company provided revenue guidance for the full year 2025, projecting revenue between $2.6 billion and $2.66 billion.
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