Western Union Stock Price, News & Analysis

The Western Union Company (NYSE: WU) has introduced its Evolve 2025 strategy aimed at enhancing financial services for aspiring populations globally. The strategy is expected to lead to improved revenue trends from 2023 through 2025, with projected annual growth.

In 2023, revenue is anticipated to decline by 10% to 8% due to various factors, including the sale of Business Solutions and foreign exchange fluctuations. However, operating margins are projected between 19% to 21%, with mid-single digit EPS growth expected in 2024 and 2025.

The Western Union Company (NYSE: WU) anticipates third quarter 2022 GAAP earnings per share (EPS) of $0.45 and adjusted EPS of $0.42. Preliminary revenue is expected at $1.1 billion, marking a 15% decline year-over-year. The company reaffirmed its financial outlook for 2022, projecting GAAP EPS between $2.18 - $2.28. An Investor Day is scheduled for October 20, 2022, to discuss long-term strategies. Final third quarter results will be released on November 1, 2022, with a webcast call at 4:30 PM ET. The impact of geopolitical events and inflation in Argentina affected the results significantly.

Western Union has launched a new service allowing Chinese nationals to receive international money transfers in real-time via Weixin as a collaboration with Tencent Financial Technology and Shanghai Pudong Development Bank. This service targets Weixin's large user base, facilitating transfers of up to USD3000 per transaction directly into bank accounts. The move aims to enhance Western Union's presence in China, one of the top recipients of remittances globally, receiving approximately USD53 billion in 2021.

The Western Union Company (NYSE: WU) will host an investor day on October 20, 2022, in New York City. The event starts at 9:00 a.m. Eastern Time and ends at 12:30 p.m. Eastern Time. President and CEO Devin McGranahan and the Executive Leadership Team will discuss the Company’s long-term strategy followed by a Q&A session. A live webcast is available at ir.westernunion.com, with registration required at least 15 minutes before the event. A replay will be accessible post-event.

Western Union (NYSE: WU) announced its acquisition of Te Enviei, a Brazilian digital wallet, to accelerate the launch of its financial services in Brazil. This follows the successful rollout of its digital banking offering in Europe in February 2022. The acquisition aligns with Western Union's strategy to enhance customer engagement by providing integrated digital banking and money transfer solutions. Brazil is considered a key market due to its high level of digital banking adoption and demand for innovative financial products, with the digital wallet expected to be live in the first half of 2023.

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.