Western Union Stock Price, News & Analysis

The Western Union Foundation is allocating nearly $500,000 in scholarship funding for the 2022-2023 academic year, supporting 52 students across 30 universities in nine countries. This initiative aims to assist disadvantaged youth and migrants in completing their education. The Western Union Scholars program, launched in 2017, emphasizes financial aid for students facing economic hardships. The Foundation collaborates with the Institute of International Education to identify and support these scholars, emphasizing a long-term commitment to empowering marginalized communities.

Western Union has relaunched its money transfer services in Mali, connecting customers to the Economic Community of West African States (ECOWAS). This reinstatement follows a temporary suspension due to nationwide restrictions. Regional VP Mohamed Touhami El Ouazzani emphasized the importance of these services, stating they are a lifeline for many individuals. The resumption allows transfers to multiple countries including Ghana, Nigeria, and Senegal. In 2021, remittances accounted for 5.5% of Mali's GDP, highlighting the significance of this service for the economy.

Western Union (NYSE: WU) has renewed its partnership with Woodforest National Bank, enhancing money transfer and bill payment services for customers. This agreement enables access to both in-branch and online services across 17 states in the U.S. Western Union's global network facilitates transfers to over 200 countries, providing customers with options for quick money access. The collaboration aims to increase convenience and reliability for consumers, continuing a relationship that has lasted over a decade.

Western Union (NYSE: WU) announces the departure of its Chief Financial Officer, Raj Agrawal, after a 16-year tenure. He will transition to Arrow Electronics, leaving Western Union on September 2, 2022. CEO Devin McGranahan expressed gratitude for Agrawal's contributions during his time with the company. Western Union will conduct an internal and external search for a new CFO, with plans to announce an interim successor within the next two weeks.

Western Union has expanded its partnership with Visa to enhance money transfer capabilities for its US customers. This integration with Visa Direct allows users to send funds to Visa debit cardholders in six countries: Colombia, El Salvador, Jamaica, Philippines, Romania, and Thailand. The service aims to improve transfer speed and efficiency, providing options through WU.com, the Western Union app, and retail locations. With this, Western Union continues to focus on modernizing cross-border payments, emphasizing convenience and reliability in the customer experience.

Western Union (NYSE: WU) reported Q2 2022 earnings, posting a GAAP EPS of $0.50 and adjusted EPS of $0.51. Revenue declined 12% year-over-year to $1.1 billion, impacted by a 3% revenue drop due to the suspension of operations in Russia and Belarus. Despite the decline, operating margins improved, with a GAAP margin of 23.2%. The company anticipates continued macroeconomic challenges, revising its full-year revenue outlook downwards while raising operating profit margin projections to 20%-21%. An investor day is scheduled for October 20, 2022.

The Western Union Company (NYSE: WU) declared a quarterly cash dividend of $0.235 per common share, with a payment date of September 30, 2022. Stockholders of record will be eligible if they hold shares by the close of business on September 16, 2022. As a leader in cross-border and cross-currency payments, Western Union connects numerous consumers and businesses worldwide through its extensive financial network, processing transactions across over 200 countries and 130 currencies.

The Western Union Company (NYSE: WU) will host a webcast and conference call on August 3, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 results. A press release summarizing the financial results will be issued around 4:05 p.m. ET the same day. To participate, registration is required 15 minutes prior to the call. For US participants, dial +1 (669) 900-6833 or +1 (253) 215-8782 and for international access, refer to the provided directory. The webcast replay will be available on their website.