BUZZ-WEX slumps after downbeat annual outlook

Reuters
07 Feb
BUZZ-WEX slumps after downbeat annual outlook

** Shares of fintech firm WEX WEX.N slump 19.9% to $149.64

** WEX late Wednesday forecast its 2025 adjusted profit between $14.65 and $15.25/shr, below Wall Street expectations of $16.79 - data compiled by LSEG

** Company's annual revenue forecast of $2.60 bln to $2.66 bln also fell short of estimates of $2.71 bln

** WEX's markets have evolved such that it no longer possesses a competitive advantage in the non-mobility segments, brokerage William Blair says

** Adds that WEX's recent challenges and dour outlook could attract an activist investor who might seek management and business portfolio changes

** WEX stock slipped 9.9% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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