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Jun 30, 2023
Western Union Q2 2023 Earnings Report
Reported a revenue increase and growth in C2C transactions, driven by digital initiatives and changes in Iraqi monetary policies.
Key Takeaways
Western Union reported a 3% increase in Q2 revenue, reaching $1.17 billion, driven by growth in C2C transactions and an increase in revenue from Iraq. The company's GAAP EPS was $0.47, while adjusted EPS was $0.51. C2C transactions grew by 4%, supported by a 12% increase in branded digital transactions.
Q2 GAAP revenue grew by 3% to $1.17 billion, or 9% on an adjusted basis.
Q2 GAAP EPS was $0.47, a decrease of 6% year-over-year; adjusted EPS was $0.51, flat year-over-year.
C2C transactions increased by 4%, driven by 12% branded digital transaction growth.
The company raised its full-year 2023 outlook.
Western Union
Western Union
Western Union Revenue by Segment
Revenue by Segment
Consumer Money Transfer Revenue
CapyFin.com Forward Guidance
The company raised its 2023 full-year revenue and EPS outlook due primarily to business performance in Iraq. The outlook assumes no material changes in macroeconomic conditions, including changes in foreign currencies or Argentinian inflation.
Positive Outlook
- Revenue growth
- EPS growth
Challenges Ahead
- Elevated remittance volumes from Iraq are expected to be significantly lower going forward due to recent U.S. government actions.
- Guidance excludes elevated remittance volume from Iraq after July