Wright Express Resumes Fuel Hedging

June 8, 2009

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Wright Express has resumed purchases under its existing fuel-price risk management program through the fourth quarter of next year.

Last week, the company purchased instruments to cover its anticipated fuel-price-related earnings exposure for the last three quarters of 2010. The company hedged 90 percent of its anticipated exposure through the fourth quarter of 2009, 80 percent of its first-half 2010 exposure, 53 percent of its third-quarter 2010 exposure and 27 percent of its fourth-quarter 2010 exposure. The company plans to hedge approximately 80 percent of its fuel-price-related earnings exposure in every quarter, on a rolling basis.

The purchase secured a fuel price range of approximately $2.65 to $2.71 per gallon.

Wright Express is a provider of payment processing and information management services. The company's charge cards are used by commercial and government fleets to purchase fuel and maintenance services.

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