Wex's travel and corporate solutions segment revenue
increased 38 percent year over year to $75.6 million in the second quarter. Wex
president and CEO Melissa Smith said the revenue increase owed to volume
growth, especially from its largest customers and clients from payments
provider AOC, which Wex acquired last October.
Purchase volume for the segment increased 16 percent year
over year to $8.9 billion for the quarter. The purchase volume excluded AOC
clients, meaning "the strong volume growth is happening organically,"
Smith said.
While all geographies showed "solid volume
increases," Wex CFO Roberto Simon said, Europe, Brazil and Asia did
particularly well.
Wex added Omega World Travel as a customer and renewed a
contract with CN Tours.
Companywide, revenue in the second quarter increased 22
percent to $370.9 million. Net earnings attributed to shareholders on a GAAP-reported
basis also increased from $17.1 million in the second quarter last year to
$39.3 million.