The strengthening economy and increased fleet fueling activity helped South Portland-based Wright Express show a first-quarter revenue boost of 22 percent to $83.8 million, compared to $68.5 million during the same period last year.
Net income was $18 million, or 48 cents per share, compared to $11 million, or 28 cents last year. On a non-GAAP accounting basis, adjusted earnings for the period increased 46 percent, to $23.7 million or 61 cents per share. That compared to $16.3 million or 42 cents a year earlier.
Wright Express is a leading provider of payment processing and information management for vehicle fleets. It uses derivatives to offset swings in fuel prices and also reports results on a non-GAAP basis to smooth volatility.
Copy the Story Link
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.