Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Wright Express (NYS: WXS) popped by as much as 13% today after the company reported solid quarterly earnings results this morning.
So what: Third-quarter revenue soared by 52% from $100.2 million last year to $151.9 million, while earnings per share jumped 38% to $0.99. The results toppled the consensus estimates of $146.5 million in sales and $0.93 earnings per share.
Now what: Guidance for next quarter is below what the Street is looking for, but it looks like investors are focusing on the good news today. The company has been seeing healthy growth in its payment-solutions segment, while Wright Express has diversified its business over the past few years. Full-year revenue is estimated to be between $548 million and $553 million, with earnings per share in the range of $3.53 to $3.59.
Interested in more info on Wright Express? Add it to yourwatchlist.
At the time thisarticle was published Fool contributorEvan Niuholds no position in any company mentioned. Check out hisholdings and a short bio. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.