Wright Express Shares Popped: What You Need to Know

Updated

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.

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