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), also known as Intermex, is a prominent provider of money transfer services focusing primarily on the U.S. to Latin America and the Caribbean (LAC) corridor. Founded in 1994 and headquartered in Miami, Florida, Intermex has established itself as a leader in the digital movement of money, offering services through various channels including agent retailers, company-operated stores, a mobile app, and the company’s websites.
Intermex’s core offerings include wire transfers, money orders, foreign exchange, and check cashing services. The majority of its revenue is derived from fees associated with wire transfers and money orders. With a robust network of over 30,000 payer locations, the company operates in 45 American states and 16 Latin American countries, ensuring easy and convenient access for customers.
Notably, Intermex has recently expanded its integration with Visa Direct, enabling U.S. customers to send money to eligible Visa Debit Card holders in 20 countries. This strategic move underlines the company’s commitment to enhancing its remittance services and ensuring seamless financial transactions across borders.
Intermex reported strong financial performance in the first quarter of 2024, achieving a record-breaking start with significant growth in revenues and net income. The company’s total revenues for the quarter were $150.4 million, up by 3.5%, while net income increased by 2.9% to $12.1 million. Additionally, the company experienced a 3.0% increase in unique active customers, generating 13.5 million money transfer transactions worth $5.5 billion in principal transferred.
The company’s strategic initiatives, such as the partnership with Félix Pago, demonstrate its commitment to innovation and customer-centric services. The partnership allows users to transfer money via WhatsApp, integrating remittance services into their everyday communication tools with fees as low as $2.99.
Intermex continues to invest in growth and operational efficiency, as evidenced by its recent move to a new headquarters in Miami and ongoing technology upgrades. The company’s stock repurchase program further underscores its strong financial position, with shares repurchased for significant amounts in the first quarter of 2024.
With international offices in Puebla, Mexico; Guatemala City, Guatemala; and Madrid, Spain, Intermex is well-positioned to continue its growth and expand its services. For more information, visit www.intermexonline.com.
International Money Express, Inc. (NASDAQ: IMXI) reported impressive financial results for Q3 2021, with revenues of $120.7 million, marking a 26.3% year-over-year increase. Net income rose 21.2% to $11.5 million and diluted EPS increased 16.0% to $0.29. Adjusted net income grew 28.3% to $15.7 million, while adjusted diluted EPS reached $0.40, up 25.0%. The company has raised its full-year 2021 guidance for revenues to between $450 million - $455 million.
International Money Express, Inc. (NASDAQ: IMXI) is set to release its Third Quarter 2021 earnings on November 3, 2021, before market opening. The management will host a conference call at 9:00 am ET to review financial and operational results. Interested parties can join the call by dialing 1-877-423-9813 or via webcast. An audio replay will be available from November 3 to November 17, 2021. The company, which facilitates money transfers to 17 Latin American countries, is headquartered in Miami, Florida, and was founded in 1994.
International Money Express (NASDAQ: IMXI) announced a stock repurchase program authorized by its Board of Directors, allowing up to $40 million for the buyback of common stock. The decision reflects confidence in the company's omnichannel strategy and strong financial position. This strategic move is aimed at enhancing shareholder value while maintaining liquidity for future growth and acquisitions. The actual amount repurchased will depend on market conditions and various factors, with purchases potentially funded from cash on hand.
International Money Express (NASDAQ: IMXI) reported a record-breaking second quarter of 2021 with revenues of $116.7 million, up 37.2% year-over-year. Net income rose 47.3% to $13.2 million, with basic and diluted EPS at $0.34, an increase of 41.7%. Adjusted net income also grew 41.2% to $15.3 million, while adjusted EBITDA increased 33.4% to $23.2 million. The company has raised its full-year guidance, expecting revenues between $441 million and $450 million.
International Money Express (NASDAQ: IMXI) will announce its Second Quarter 2021 earnings on August 4, 2021, before market opening. A conference call to discuss the results is scheduled for the same day at 9:00 am ET, accessible via phone or webcast. The company facilitates money transfers from the U.S. and Canada to various countries, leveraging proprietary technology and a vast network of agents and locations. An audio replay of the call will be available after the event for a limited time.
International Money Express (IMXI) completed a significant refinancing of its secured debt, establishing a new $87.5 million term loan facility and a $150 million revolving credit facility with additional potential borrowing of $70 million. The new loan terms feature lower interest rates, reducing from LIBOR plus 450 basis points to LIBOR plus 250-300 basis points, maturing in 2026. This refinancing underscores market confidence in Intermex and enhances the company’s financial flexibility and growth potential in the Latin American remittance market.
International Money Express reported first-quarter 2021 revenues of $94.6 million, up 22.4% year-over-year. Net income rose 57.8% to $9.0 million, with basic and diluted EPS at $0.23, a 53.3% increase. Adjusted net income increased 40% to $10.6 million, and adjusted EBITDA grew 27.4% to $16.8 million. The company holds a 19.6% market share in key regions, surpassing overall market growth. For the full year, Intermex anticipates revenue growth of 16%-18%, reaching $414 million - $421 million.
International Money Express, Inc. (NASDAQ: IMXI) will announce its First Quarter 2021 earnings on May 5, 2021, before trading opens. A conference call to discuss the financial results is scheduled for the same day at 8:30 am ET. Investors can access the call by phone or through a webcast. A replay will be available from May 5 until May 19, 2021. Founded in 1994 and headquartered in Miami, the company specializes in digital money transfers to 17 Latin American countries, seven African countries, and two Asian countries, utilizing a network of agent retailers and technology.
International Money Express, Inc. (NASDAQ: IMXI) reported an all-time high in remittances for March 2021 with 3,147,116 transfers, a 23.3% increase from March 2020. Total funds transferred exceeded $1.3B, marking a 30.4% year-over-year growth. Intermex's digital platform also saw impressive growth, up 105.2%. Key markets Mexico and Guatemala experienced a 17.8% increase, capturing a 21.3% market share. Emerging markets, including Dominican Republic and Brazil, grew by 43.9%.
International Money Express (NASDAQ: IMXI) announced the appointment of Christopher Hunt as the new Chief Information Officer. Reporting to CEO Bob Lisy, Hunt is tasked with developing a tech strategy that aligns with the company's financial goals. With over 20 years of experience in IT transformation, he previously served as CTO at Bankers Healthcare Group, where he modernized technology and led acquisition projects. Intermex specializes in money remittance services to 17 countries in Latin America and operates through various channels, focusing on digital solutions to enhance customer service.
FAQ
What is the current stock price of International Mny Express (IMXI)?
What is the market cap of International Mny Express (IMXI)?
What services does International Money Express, Inc. offer?
Where is International Money Express, Inc. headquartered?
Which geographic regions does Intermex primarily operate in?
What is a recent achievement of Intermex?
How has Intermex performed financially in recent times?
What is unique about Intermex’s partnership with Félix Pago?
What technologies does Intermex leverage for its services?
Who can I contact for investor relations at Intermex?
What is Intermex’s approach to expanding its services?
Where can I find more information about Intermex?
