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Jun 30, 2024
Western Union Q2 2024 Earnings Report
Reported positive adjusted revenue growth, excluding Iraq, for the first time since 2021 and consumer money transfer transactions increased.
Key Takeaways
Western Union reported a 9% decrease in GAAP revenue, totaling $1.07 billion for Q2 2024. Excluding Iraq, the company achieved positive adjusted revenue growth for the first time since 2021. Consumer Money Transfer transactions increased by 4%, driven by 13% growth in Branded Digital transactions. GAAP EPS was $0.41, while adjusted EPS reached $0.44.
Consumer Money Transfer transactions grew 4% driven by 13% growth in Branded Digital transactions.
GAAP revenue was $1.07 billion, a 9% decrease on a reported basis, or 7% on an adjusted basis, including a 7% headwind from Iraq.
Consumer Services revenue increased 21% on a reported basis and 14% on an adjusted basis.
GAAP EPS was $0.41, and adjusted EPS was $0.44.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reiterated its full year 2024 outlook, assuming no material changes in macroeconomic conditions.
Positive Outlook
- Revenue (GAAP): $4,125 to $4,200 million
- Revenue, adjusted (non-GAAP): $4,150 to $4,225 million
- Operating margin (GAAP): 18% to 20%
- Operating margin, adjusted (non-GAAP): 19% to 21%
- Earnings per share (GAAP): $1.62 to $1.72
Challenges Ahead
- Assumes $10 to $30 million of revenue from Iraq per quarter for the remainder of the year
- Foreign currency translation and Argentina inflation impact: $25 million
- Redeployment program costs: 1%
- Impact from acquisition, separation, and integration costs: 0%
- Amortization and impairment of acquisition-related intangible assets: 0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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