Western Union Stock Price, News & Analysis

The Western Union Company (NYSE: WU) announces the appointment of Gabriella Fitzgerald as President of the Americas Region, effective September 13, 2021. Fitzgerald will lead the company’s growth strategies and expand its market presence across various segments. She brings over 20 years of experience from American Express, where she enhanced growth and profitability in the payments sector. Her focus will be on increasing global cross-border payments and enhancing customer experience. The company aims to leverage Fitzgerald's expertise to strengthen its position in the digital payments landscape.

Western Union has expanded its collaboration with Cebuana Lhuillier to offer digital money transfer services through the eCebuana mobile app. This new service allows users in the Philippines to send and receive international money transfers directly in the app, which also includes a micro-savings account feature. Starting early next year, users will have the option for local and global money transfers. This expansion builds on their prior launch of services at over 2,500 Cebuana Lhuillier locations in the Philippines.

The Western Union Company (NYSE: WU) will present at the Deutsche Bank Technology Conference on September 9, 2021, at 5:50 p.m. Eastern time. CFO Raj Agrawal and Chief Marketing Officer Jay Jaffin will represent the company during the presentation. Investors can access the live webcast on Western Union's investor relations page, with an archived version available post-event. Western Union is a leader in cross-border money movement, connecting businesses and consumers across over 200 countries and territories.

The Western Union Company (NYSE: WU) reported second quarter revenue of $1.3 billion, marking a 16% increase year-over-year. GAAP EPS rose to $0.54 from $0.39, driven by revenue growth and lower tax rates. The company reaffirmed its adjusted financial outlook for 2021, anticipating solid growth, particularly in digital money transfer, expected to surpass $1 billion in revenue. Additionally, WU plans to divest its Business Solutions unit for approximately $910 million in cash, enhancing focus on cross-border consumer payments.

The Western Union Company (NYSE: WU) has entered a definitive agreement with Goldfinch Partners and The Baupost Group to sell Western Union Business Solutions for approximately $910 million in cash. This segment, accounting for around 7% of the company's revenue as of June 30, 2021, will help Western Union focus on its global cross-border payments platform. The deal is expected to close in two stages, with over $800 million anticipated in net proceeds from the first closing, which will support growth initiatives, dividends, acquisitions, and share repurchases.

The Western Union Company (NYSE: WU) has declared a quarterly cash dividend of $0.235 per common share, scheduled for payment on September 30, 2021. Shareholders of record as of September 16, 2021 will receive this dividend. As a global leader in cross-border money movement, Western Union connects over 200 countries and territories, providing seamless financial services and access to millions of digital wallets and retail locations.

Western Union (NYSE: WU) announced that CEO Hikmet Ersek and CFO Raj Agrawal will host a webcast and conference call on August 4, 2021, at 4:30 p.m. ET to discuss the company's second quarter 2021 results. A press release with financial results will be issued at approximately 4:00 p.m. ET on the same day. To participate, registration is required, and a replay will be available afterward on their investor website.

Western Union (NYSE: WU), in collaboration with the Western Union Foundation, has launched two initiatives supporting BIPOC business leaders. Project Finish Line offers scholarships to BIPOC students, aiding those attending historically black colleges and universities. The Foundation also funds Sistahbiz, providing leadership support to Black female-owned businesses. These initiatives aim to tackle economic disparities and enhance opportunities for minority communities. Additionally, Western Union will observe Juneteenth as a paid holiday for its U.S. employees.