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. (NASDAQ: IMXI), known as Intermex, generates frequent news as a money remittance and digital payments company focused on cross-border transfers. Founded in 1994 and headquartered in Miami, Florida, Intermex enables consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries, with payouts through thousands of retail and bank locations worldwide.
News about Intermex often centers on its role as a money remittance provider to Latin America and the Caribbean, as well as its expansion into additional regions. Recent announcements highlight strategic partnerships that reshape key corridors, such as alliances with Banco Industrial in Guatemala to power the Zigi App, with Caribe Express in the Dominican Republic, and with Orbit Money Transfer in Canada. These stories emphasize digital remittance experiences, financial inclusion, and enhanced access to secure transfers.
Investors and observers can also follow updates on Intermex’s technology platforms, including its Remittance-as-a-Service offering, Business-to-Business Solutions, and Payroll Card Program. Press releases describe how these services allow businesses and financial institutions to embed cross-border payments, digitize payroll, and connect to Intermex’s payout network.
Another important stream of news involves corporate developments and regulatory milestones. Intermex and The Western Union Company have entered into a merger agreement under which Western Union plans to acquire Intermex, subject to stockholder and regulatory approvals and other conditions. Company communications provide details on the merger process, financial results, and non-GAAP performance measures. For users tracking IMXI, this news feed offers a centralized view of operational initiatives, corridor expansions, partnership activity, and transaction-related disclosures.
International Money Express (NASDAQ: IMXI) has acquired certain assets and operations of Amigo Paisano, a Guatemala-based remittance company, including its U.S., European, and LATAM brands and trademarks. The acquisition builds upon an existing partnership since 2019, where Amigo Paisano has utilized Intermex's infrastructure, APIs, compliance oversight, and payout network.
This strategic move strengthens Intermex's digital coverage and Central American presence, following previous acquisitions of Envios de Valores La Nacional Corp. in November 2022 and LAN Holdings Corp. in April 2023. The company expects the acquisition to generate between $3.5MM and $5MM of incremental adjusted EBITDA in 2025.
International Money Express (NASDAQ: IMXI), a leading omnichannel money remittance services company, has announced its upcoming Investor Day scheduled for February 26, 2025, at the Westin New York at Times Square. The afternoon event will feature management presentations on the company's strategic direction and business opportunities.
The event is open to institutional investors and research analysts for in-person attendance, with registration required by February 7, 2025. A livestream option and supporting materials will be available for online participants. Interested attendees can register through PondelWilkinson.
International Money Express (NASDAQ: IMXI) reported Q3 2024 financial results with revenues of $171.9 million, a 0.3% decrease year-over-year. The company achieved net income of $17.3 million, up 16.9%, and diluted EPS of $0.53, a 29.3% increase. Digital money transfer revenues grew 76%, while active customers increased 5% to 4.2 million. The company announced it's initiating a process to assess strategic alternatives, including a potential private sale, and has retained FTP Securities as financial advisor. The Board believes current market valuation doesn't reflect the company's performance and growth potential.
International Money Express (NASDAQ: IMXI), also known as Intermex, has announced the release of its Third Quarter 2024 earnings before trading begins on Friday, November 8, 2024. The company will host a conference call on the same day at 9:00 am ET to discuss its financial performance and operational achievements.
Interested parties can access the live broadcast of the conference call through the Investor Relations section of Intermex's website. For those wishing to participate via telephone, 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.
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.
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