12:18 PM EDT, 10/24/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

WEX (WEX) shares were down more than 14% Thursday after the company reported Q3 adjusted earnings and revenue that increased year-over-year and lowered its full-year outlook.

WEX posted Q3 adjusted earnings of $4.35 per diluted share, up from $4.05 a year earlier.

Analysts polled by Capital IQ expected $4.41.

Revenue for the quarter ended Sept. 30 was $665.5 million, compared with $651.4 million a year earlier.

Analysts surveyed by Capital IQ expected $686.5 million.

The company expects Q4 adjusted earnings of $3.51 to $3.61 per diluted share from revenue of $630 million to $640 million. Analysts surveyed by Capital IQ expect $4.26 from revenue of $673.0 million.

WEX now expects full-year adjusted earnings of $15.21 to $15.31 per diluted share, down from $15.98 to $16.38 previously. Analysts surveyed by Capital IQ expect $16.04

Full-year revenue is forecast at $2.62 billion to $2.63 billion, down from $2.68 billion to $2.72 billion. Analysts expect $2.69 billion.

Price: 182.83, Change: -30.22, Percent Change: -14.18