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The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement, offering innovative financial services that empower individuals and businesses worldwide. With over 160 years of history, Western Union has firmly established itself as the largest money transfer company globally, handling over 270 million transactions in 2023 alone.
The company’s core business revolves around providing domestic and international money transfers through an extensive network of approximately 600,000 agents located across more than 200 countries and territories. This network ensures that families, friends, and businesses can easily send money and stay connected almost anywhere in the world. Western Union’s agents and employees are considered ambassadors of trust, responsibility, and hope, reflecting the company’s core values and dedication to its consumers.
Recent achievements include the expansion of Western Union’s network of concept stores and company-owned hubs in Europe. As of December 2023, the company has inaugurated 100 locations across 13 European markets, including Spain, Italy, France, Germany, and the United Kingdom. These concept stores not only facilitate international money transfers but also provide a premium brand experience and enhanced service levels. This initiative is part of Western Union's broader retail strategy, aiming to offer an omni-channel experience to customers, support local micro-entrepreneurs, and promote financial inclusion within migrant communities.
Western Union continues to innovate with new ventures, such as the launch of WU Digital in San Francisco, CA. This technology-driven platform enhances the company's digital capabilities, providing faster, easier, and more convenient access to its services. The company’s commitment to financial inclusion is evident through its investments in micro-entrepreneurship, allowing retail partners to open exclusive Western Union locations and play a vital role in their communities.
Financially, Western Union is robust, with a strong presence in both the digital and physical realms, offering services across nearly 130 currencies. The company’s mission is to help people and communities prosper by providing accessible financial services, thereby enabling consumers, businesses, financial institutions, and governments to connect with billions of bank accounts, millions of digital wallets and cards, and a global network of retail locations.
For more information, visit www.westernunion.com.
The Western Union Company (NYSE: WU) will host a webcast and conference call on August 3, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 results. A press release summarizing the financial results will be issued around 4:05 p.m. ET the same day. To participate, registration is required 15 minutes prior to the call. For US participants, dial +1 (669) 900-6833 or +1 (253) 215-8782 and for international access, refer to the provided directory. The webcast replay will be available on their website.
Western Union (NYSE: WU) will present at the Bernstein Strategic Decisions Conference on June 2, 2022, at 11 a.m. EDT. CEO Devin McGranahan will provide insights during the presentation. Investors and the public can access the live webcast through the Western Union investor relations website. An archived version will also be available post-event. With a strong global presence, Western Union specializes in cross-border money movement and payments, connecting businesses and consumers across more than 200 countries and 130 currencies.
The Western Union Company (NYSE: WU) has announced a quarterly cash dividend of $0.235 per common share. This dividend will be payable on June 30, 2022, to shareholders who are on record as of the close of business on June 16, 2022.
Western Union, a leader in cross-border payments, operates a vast financial network across over 200 countries and territories, facilitating money movement and payments in more than 130 currencies.
Western Union released data highlighting the perspectives and motivations of migrants across the U.S., U.K., Germany, France, Japan, and the UAE. Key findings show that 86% of U.S. migrants view their host country positively, and 88% feel appreciated. Additionally, 57% are familiar with cryptocurrency, and 83% utilize digital financial services. The company is collaborating with The Fletcher School at Tufts University to explore economic opportunities and acceptance of migrants through the "Migration Quotient" scorecard.
The Western Union Company (NYSE: WU), a leader in global money movement and payments, will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 2:30 p.m. EDT. CEO Devin McGranahan will lead the presentation, which can be accessed via a webcast through their investor relations page. Western Union operates a robust financial network connecting over 200 countries and territories, facilitating cross-border transactions in more than 130 currencies, thus offering extensive services for consumers, businesses, and financial institutions.
Western Union (NYSE: WU) is expanding its partnership with the UK Post Office, making cross-border money transfer services available at 4,000 additional locations, effectively doubling its retail network in the UK. This expansion enhances Western Union’s omni-channel offering, allowing customers to send money digitally or in-person. The activation of these services is scheduled for Autumn 2022 and aims to improve financial inclusion in communities with declining local banking options. Both companies expect this partnership to drive foot traffic and support local businesses.
The Western Union Company (NYSE: WU) reported Q1 2022 earnings with GAAP EPS of $0.74, up from $0.44 YoY, driven by the gain from the Business Solutions sale. Revenue totaled $1.2 billion, reflecting a 4% decline YoY, primarily due to lower retail transfers and operations suspended in Russia and Belarus. Adjusted EPS was $0.51. Operating margins improved, with GAAP at 20.5% and adjusted at 21.8%. The company revised its 2022 outlook downward, anticipating revenue declines of approximately 9% to 11% and an adjusted EPS forecast of $1.75 to $1.85.
The Western Union Company (NYSE: WU) announced that CEO Devin McGranahan and CFO Raj Agrawal will host a webcast and conference call on April 28, 2022, at 4:30 p.m. ET to discuss Q1 2022 results. A press release with financial highlights will be issued at 4:05 p.m. ET the same day. Participants can join the call by dialing +1 (669) 900-6833 or +1 (253) 215-8782, using meeting ID 979 6440 0760 and passcode 455210. A replay of the webcast will be available on their investor relations website.
Western Union has launched its money transfer services in South Korea through the ICB mobile app - DEBUNK Remit. This app allows users to send money to select countries worldwide, offering cash payouts or transfers to bank accounts. The collaboration aims to provide enhanced customer experiences, expanding Western Union's reach to over 200 countries.
ICB processes around $1.6 billion in transactions annually, enhancing its fintech offerings.
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