Welcome to our dedicated page for International Mny Express news (Ticker: IMXI), a resource for investors and traders seeking the latest updates and insights on International Mny Express stock.
International Money Express Inc (IMXI) delivers essential financial connectivity through its cross-border remittance services. This news hub provides investors and stakeholders with timely updates on corporate developments shaping the money transfer industry.
Access official press releases and market analyses covering quarterly earnings, strategic partnerships, and service expansions. Our curated collection helps you monitor IMXI's operational milestones in key Latin American corridors and evolving digital payment solutions.
Discover updates on regulatory compliance initiatives, technology enhancements to IMXI's omnichannel platform, and leadership announcements impacting the company's growth trajectory. Bookmark this page for streamlined access to verified information supporting your financial research needs.
Breach Inlet Capital, a significant shareholder of International Money Express (NASDAQ: IMXI), has sent a public letter to IMXI's Board of Directors urging them to pursue strategic alternatives, including a potential sale of the company. The investment firm believes IMXI is materially undervalued with significant growth opportunities, particularly in Digital and European markets.
Key points from the letter include:
- IMXI has tripled Adjusted EBITDA over six years, yet trades at only ~5x LTM Adjusted EBITDA
- Peer MoneyGram was acquired for ~8x Adjusted EBITDA despite eroding performance
- IMXI could better execute long-term growth strategies as a private company
- A private equity takeout could offer up to 65% upside from current share price
- The Board should immediately announce a strategic review to maximize shareholder value
International Money Express (NASDAQ: IMXI) has secured a new $425 million revolving credit facility, refinancing its existing secured debt. The facility, maturing in 2029, offers improved terms and increased flexibility. Key features include:
- $133 million increase in credit availability
- Improved spreads over SOFR
- Expanded capacity for share repurchases and M&A activity
- Option for additional $100 million in loans
Intermex has used part of the facility to repay its $72 million term loan. Additionally, the Board has increased the share repurchase authorization to $100 million, approving up to $20 million in repurchases for each of Q3 and Q4 2024.
Intermex (NASDAQ: IMXI) reported its Q2 2024 financial results, showcasing mixed performance metrics. Revenues increased by 1.4% year-over-year to $171.5 million, driven by a 3.9% growth in active customers. However, net income declined by 9.1% to $14.0 million, affected by $2.7 million in restructuring charges. Diluted EPS remained flat at $0.42, while Adjusted Diluted EPS rose by 10.0% to $0.55. Adjusted EBITDA saw a slight increase of 0.6% to $31.1 million.
For the first half of 2024, revenues grew 2.4% to $321.9 million, with net income falling 4.0% to $26.1 million. Adjusted EBITDA for this period increased by 2.7% to $56.5 million. The company ended Q2 with $233.2 million in cash and repurchased 521,651 shares for $11.2 million. Guidance for full-year 2024 includes revenue between $657.6 million and $677.6 million, and Adjusted Diluted EPS of $2.07 to $2.25.
Intermex (NASDAQ: IMXI), a leading money remittance provider, has announced two strategic hires to bolster its leadership team. Chris Kawula joins as Executive Vice President, Head of Sales, bringing extensive experience from Western Union, Sigue , and Small World Financial Services. Cheyenne Moore takes on the role of Director of Inside Sales, leveraging his decade-long sales experience and professional basketball background.
These appointments underscore Intermex's commitment to growth and innovation in the remittance industry. CEO Bob Lisy expressed enthusiasm about the new hires, emphasizing their potential to enhance Intermex's market position and service quality. Kawula's expertise in delivering significant revenue and operating profit, coupled with Moore's diverse cultural understanding, are expected to drive Intermex's retail sales strategy and market penetration.
International Money Express (NASDAQ: IMXI), also known as Intermex, has announced the release of its Second Quarter 2024 earnings before trading begins on Wednesday, August 7, 2024. The company will host a conference call at 9:00 am ET on the same day to discuss financial performance and operational achievements.
Interested parties can access the live broadcast through the Investor Relations section of Intermex's website. For telephone participation, registration is required, after which a dial-in number and unique PIN will be provided. An archived webcast of the call will be available on the company's website for one year following the conference.
International Money Express, Inc. (NASDAQ: IMXI) reported strong Q1 2024 financial results with revenues of $150.4 million, net income of $12.1 million, and diluted EPS of $0.35 per share. The company highlighted a 3.0% increase in active customers and a 4.8% increase in money transfer transactions. Additionally, the company reaffirmed its full-year and Q2 2024 guidance.
