WEX Inc

Fuel card provider WEX Inc. continues to see gradual sequential improvement but at a pace below analysts’ expectations. The company’s fourth-quarter result was slightly below expectations and its first-quarter revenue guidance disappoints. Shares are off 4% in early trading.

Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.

Revenue for the quarter came in at $431.68 million, 13% higher than the consensus estimate of $424.31 million.

Fuel card provider WEX Inc. reports a solid fourth quarter but calls out weakness in the trucking market.