WEX Extends Its Existing Fuel-Price Risk Management Program
WEX Inc. (NYSE: WXS), a leading international provider of physical, digital and virtual corporate card payment solutions, announced today that it has extended its existing fuel-price risk management program through the second quarter of 2014.
On December 10, 2012, the Company purchased instruments to cover a portion of its anticipated domestic fuel-price-related earnings exposure for the fourth quarter of 2013, and first and second quarters of 2014. At this time, WEX has hedged approximately: 60% of its exposure through the fourth-quarter of 2013, 40% of its first-quarter 2014 exposure and 20% of its second-quarter 2014 exposure. Going forward, the Company intends to hedge approximately 60% of its domestic fuel-price-related earnings exposure in every quarter on a rolling basis.
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