Q4 2024 Western Union Co Earnings Call Transcript
Key Points
- The Western Union Co (WU) reported a third consecutive quarter of positive adjusted revenue growth, excluding Iraq, with a 1.4% increase.
- Consumer services showed strong performance with 23% adjusted revenue growth, driven by media network business and expansion of foreign exchange services.
- The branded digital business experienced 13% transaction growth and 8% adjusted revenue growth in the quarter.
- The company achieved a significant non-cash tax benefit exceeding $250 million, positively impacting GAAP EPS.
- The Western Union Co (WU) is ahead of its evolve 2025 strategy, achieving positive full-year companywide adjusted revenue growth, excluding Iraq.
- North American revenues experienced a modest deceleration, with macroeconomic impacts affecting performance.
- Retail business, excluding Iraq, was down about 3% year over year, indicating challenges in stabilizing this segment.
- The company faces uncertainty in the market, with potential impacts from macroeconomic conditions and geopolitical factors.
- The digital business continues to face a gap between transaction growth and revenue growth, with a 300-400 basis point difference.
- The Western Union Co (WU) anticipates headwinds in the first and second quarters of 2025 due to lower revenues from Iraq.
Good day and welcome to the Western Union fourth-quarter and full year 2024 results conference call.
(Operator Instructions)
Please note this event is being recorded.
I would now like to turn the conference over to Tom Hadley, Vice President of Investor Relations.
Tom, please go ahead.
Thank you. On today's call, we will discuss the company's fourth quarter and full year 2004 results, and then then we will take your questions. The slides that accompany this call and webcast can be found at westernunion.com under the Investor Relations tab. It will remain available after the call.
Additional operational statistics have been provided in supplemental tables with our press release.
Joining me on the call today is our CEO, Devin McGranahan; and our CFO, Matt Cagwin.
Today's call is being recorded and our comments include forward-looking statements. Please refer to the cautionary language in the earnings release and in Western Union's filings
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