WEX Inc. (NYSE:WEX) Q1 2018 Earnings Conference Call - Final Transcript
May 03, 2018 • 09:00 am ET
of $357 million to $367 million and adjusted net income in the range of $85 million to $90 million. On an EPS basis, we expect adjusted net income to be between $1.96 and $2.06 per diluted share.
Let me walk you through the assumptions for our guidance. Domestic fuel prices, we leveraged $2.90 per gallon in the second quarter and $2.80 per gallon for the full year. The assumption for the US is based on the NYMEX futures price from this week. Exchange rates are based as of the end of April.
We assume our Fleet credit loss will be between 10 basis points and 15 basis points for the quarter and 11 basis points to 16 basis points for the full year. This includes 2 basis points to 3 basis points related to fraud, which is a reduction from our prior guidance. Our adjusted net income tax rate is expected to be between 25% and 27% for the full year. And finally, we are assuming there are approximately 43.5 million shares outstanding.
Before we open the line for questions, I will turn the call over to Steve.
Steven Alan Elder
Thank you, everybody. It's been a great quarter and we're very happy to share all these results with you. Natalie, let's open the line for questions now.