The Western Union Co (STU:W3U)

€ 10.002 -0.36 (-3.47%) Market Cap: 3.39 Bil Enterprise Value: 3.06 Bil PE Ratio: 5.75 PB Ratio: 5.81 GF Score: 69/100

Q2 2024 Western Union Co Earnings Call Transcript

Jul 30, 2024 / 08:30PM GMT

Release Date Price: €11.97 (+2.05%)

Transcript 10-Q8-K

Key Points

Positve

Consumer money transfer transactions grew at 5% in the quarter, excluding Iraq.
Achieved positive adjusted revenue growth for the first time since 2021, excluding Iraq.
Branded digital adjusted revenue was up 7% in the second quarter with transaction growth of 13%.
Consumer Services segment generated 14% adjusted revenue growth in the second quarter.
Net new independent agent activations in the US were up nearly 50% year-over-year.

Negative

Total revenue decreased by 7% on an adjusted basis due to the decline in Iraq revenue.
Adjusted operating margins decreased to 19% from 21.8% last year.
Earnings per share decreased to $0.44 from $0.51 last year.
Retail transaction trends remained flat, showing no significant growth.
Foreign exchange volatility negatively impacted margins.

Operator

Good day, and welcome to The Western Union second-quarter 2024 results conference call. (Operator Instructions) Please note that this event is being recorded. I would now like to turn the conference over to Tom Hadley, Vice President of Investor Relations. Tom, please go ahead.

Tom Hadley

Western Union Co - Vice President of Investor Relations

Thank you. On today's call, we will discuss the company's second-quarter 2024 results, and then we will take your questions. The slides that accompany this call and webcast can be found at westernunion.com under the Investor Relations tab and will remain available after the call. Additional operational statistics have been provided in supplemental tables with our press release. Joining me on the call today is our CEO, Devin McGranahan, and our CFO, Matt Cagwin.

Today's call is being recorded, and our comments include forward-looking statements. Please refer to the cautionary language in the earnings release and in Western Union's filings with the Securities and Exchange Commission, including the 2023 Form 10-K

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