Western Union launched an artificial intelligence-focused partnership with India’s HCLTech.The collaboration will see Western Union employ HCLTech’s AI solutions to move to a “platform operating model,” which will offer greater agility and scalability, according to a Monday (March 24) press release.“Western Union will harness HCLTech’s cutting-edge digital, cloud and AI solutions to enhance platform and channel capabilities, delivering seamless and innovative customer experiences,” the release said. “HCLTec ...

HCLTech and Western Union to set up a new India-based technology center to foster innovation NOIDA, India, March 24, 2025 /PRNewswire/ -- HCLTech and Western Union announce a strategic partnership to drive innovation and transformation in the financial services industry.The strategic partnership establishes HCLTech as Western Union's largest preferred partner as they collaborate to: Western Union Logo Transition to a platform operating model: Western Union will leverage HCLTech's AI-powered solutions, ...

NEW YORK CITY, March 07, 2025 (GLOBE NEWSWIRE) -- Western Union has been recognized as the leading international money transfer service in Canada, according to Expert Consumers' annual review of financial services. As the global demand for secure and efficient cross-border transactions continues to rise, Western Union remains at the forefront, providing Canadians with a reliable solution for sending money abroad. Top Money Transfer Service Canada Western Union - top choice for secure, flexible, and accessi ...

NEW YORK CITY, March 07, 2025 (GLOBE NEWSWIRE) -- Expert Consumers has recognized Western Union as the top money transfer service for Canadians in 2025. The evaluation highlights Western Union’s reliability, global reach, and commitment to security, which are essential factors in an increasingly digital and interconnected financial landscape. Top Money Transfer Service Western Union: offers the best way to send money from Canada reliably, securely, and conveniently Western Union is a global financial servi ...

A month has gone by since the last earnings report for Western Union (WU) . Shares have lost about 2.9% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Western Union due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Western Union Q4 Earnings Miss Estimates on CMT Reve ...

Dividends and Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.235 per common share for 2024 and 2023, with future dividends dependent on financial conditions and cash generated by operating subsidiaries [198][199]. - Common stock dividends declared were $324.0 million in 2024, compared to $350.3 million in 2023, a decrease of 7.5% [370]. - The company repurchased 14.5 million shares in 2024, costing $186.0 million, compared to 24.9 million shares for $311.2 million in 2023 [370]. Financial Performance - Revenues for the year ended December 31, 2024, were $4,209.7 million, a decrease of 3.4% from $4,357.0 million in 2023 [355]. - Operating income for 2024 was $725.8 million, down 11.2% from $817.5 million in 2023 [355]. - Net income increased significantly to $934.2 million in 2024, compared to $626.0 million in 2023, reflecting a 49.1% increase [355]. - Basic earnings per share rose to $2.75 in 2024, up from $1.69 in 2023, marking a 62.7% increase [355]. - Total expenses for 2024 were $3,483.9 million, a decrease of 1.6% from $3,539.5 million in 2023 [355]. - Comprehensive income for 2024 was $961.0 million, an increase from $626.6 million in 2023 [359]. Assets and Liabilities - Total assets increased to $8,370.5 million in 2024, up from $8,198.8 million in 2023, representing a growth of 2.09% [362]. - Total liabilities decreased to $7,401.6 million in 2024 from $7,719.8 million in 2023, a reduction of 4.12% [362]. - Cash and cash equivalents at the end of 2024 were $2,106.9 million, up from $1,786.2 million in 2023, reflecting a growth of 17.9% [366]. - The company reported a net cash provided by operating activities of $406.3 million in 2024, down from $783.1 million in 2023, indicating a decline of 48.0% [365]. Taxation - The company reported a provision for income taxes of $(315.6) million in 2024, compared to $119.8 million in 2023, indicating a significant tax benefit [355]. - The effective tax rate for the year ended December 31, 2024, was -51.0%, significantly impacted by tax benefits from deferred tax assets and IRS settlements [492]. - Total deferred tax assets increased to $326.9 million in 2024 from $76.5 million in 2023, primarily due to a significant rise in intangibles, property, and equipment [496]. Foreign Currency and Interest Rate Risk - The company manages foreign currency exchange risk through short duration foreign currency forward contracts, with maturities ranging from a few days to one month [302][303]. - A hypothetical 10% strengthening or weakening of the U.S. dollar would have resulted in a decrease/increase to pre-tax annual income of approximately $18 million based on unhedged foreign currency exposure as of December 31, 2024 [304]. - The weighted-average effective rate on total borrowings was approximately 4.3% as of December 31, 2024 [308]. - A hypothetical 100 basis point increase in interest rates would result in a decrease to annual pre-tax income of approximately $8 million based on sensitive borrowings, while the same increase applied to floating rate cash and investments would result in an offsetting increase of approximately $15 million [309]. Business Operations and Segments - The Western Union Company operates in over 200 countries and territories, providing cross-border, cross-currency money movement and digital financial services [373]. - The Consumer Money Transfer segment facilitates money transfers primarily through retail agents and digital platforms, contributing significantly to the Company's revenue [378]. - The company completed the sale of its Business Solutions business on July 1, 2023, which may impact future revenue streams [374]. Shareholder Equity and Retained Earnings - The total stockholders' equity rose to $968.9 million in 2024, up from $479.0 million in 2023, reflecting an increase of 102.1% [370]. - Retained earnings improved to $35.2 million in 2024 from a deficit of $389.1 million in 2023, marking a significant turnaround [370]. Legal and Regulatory Matters - The company faced legal challenges in the DRC, with judgments totaling €19.5 million ($20.3 million as of December 31, 2024) against it [457][459]. - The reasonably possible potential litigation losses were approximately $30 million as of December 31, 2024, exceeding the recorded liability for probable and estimable losses [450]. Impairments and Intangible Assets - The Company recorded approximately $9 million of impairments related to other intangible assets during the year ended December 31, 2023 [407]. - Other intangible assets totaled $914.4 million as of December 31, 2024, with an estimated future aggregate amortization expense of $121.8 million in 2025 [405]. - Amortization expenses for other intangible assets were $141.7 million, $144.5 million, and $141.1 million for the years ended December 31, 2024, 2023, and 2022, respectively [401].

Group 1 - Western Union reported revenue of $4.2 billion for FY 2024, showing nearly flat year-over-year growth [1] - The consumer money transfer (CMT) segment experienced a decline of $207 million, bringing its total to $3.8 billion [1] - In contrast, the consumer services (CS) segment saw an increase of $37.5 million, adjusted for Argentine inflation [1]

Western Union’s new media network business contributed to 56% revenue growth for its Consumer Services segment in the fourth quarter.The provider of cross-border, cross-currency money movement, payments and financial services announced the launch of its media network business in November, saying that this new offering lets companies advertise to Western Union customers via company-owned channels, reach a global audience, and connect with consumers when they are in a “commerce mindset.”Together with the laun ...

Western Union (WU) reported $1.06 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 0.6%. EPS of $0.40 for the same period compares to $0.37 a year ago.The reported revenue represents a surprise of +3.11% over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being $0.42, the EPS surprise was -4.76%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Western Union (WU) came out with quarterly earnings of $0.40 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.76%. A quarter ago, it was expected that this money transfer company would post earnings of $0.44 per share when it actually produced earnings of $0.46, delivering a surprise of 4.55%.Over the last four quarters, th ...