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Investors were clearly unimpressed by the company's third-quarter performance.
WU's Q3 results benefit from its strong Branded Digital business and a lower expense level, partly offset by reduced Iraq contributions.
Western Union plans to acquire Dash, a mobile wallet in Singapore that has more than 1.4 million users. The company and Dash owner Singtel signed a conditional agreement on the sale of the mobile wallet, the companies said in a Wednesday (Oct. 23) press release.
Western Union's Branded Digital business saw 15% growth in transactions and 9% growth in revenue on a reported basis in the third quarter. This marked the sixth consecutive quarter of double-digit transaction growth for the Branded Digital business, the company said in a presentation released Wednesday (Oct. 23) in conjunction with its quarterly earnings call.
The Western Union Company (NYSE:WU ) Q3 2024 Results Conference Call October 23, 2024 4:30 PM ET Company Participants Tom Hadley - Vice President of Investor Relations Devin McGranahan - Chief Executive Officer Matt Cagwin - Chief Financial Officer Conference Call Participants Jason Kupferberg - Bank of America Tien-Tsin Huang - JPMorgan Darrin Peller - Wolfe Research Andrew Schmidt - Citi Ken Suchoski - Autonomous Rufus Hone - BMO Tim Chiodo - UBS Ramsey El-Assal - Barclays Bryan Keane - Deutsche Bank Operator Good day, and welcome to the Western Union Third Quarter 2024 Results Conference Call. All participants will be in listen-only mode.
While the top- and bottom-line numbers for Western Union (WU) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Western Union (WU) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.43 per share a year ago.
Evaluate the expected performance of Western Union (WU) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Western Union's core business, international money transfers, produces strong cash flow but has been shrinking as digital-only competitors take market share. New CEO Devin McGranahan is focused on cost-cutting and expanding the Branded Digital business, but margins continue to decline. I weigh the pros and cons of an investment in the business and lay out a price range that I would be comfortable buying in.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
WU's Consumer Services business is likely to play a significant role in revenue generation.