Core Insights - A reduction in migration across Latin America has led to slower growth in Western Union's remittances business in the first quarter [1][3] - The company's Consumer Money Transfer (CMT) transactions in the Americas declined by 2%, while the rest of the world saw a 10% increase, resulting in an overall 3% rise in CMT transactions [2][4] Group 1: Business Performance - The Americas contribute to half of Western Union's CMT revenue, with North America accounting for 39% and Latin America and the Caribbean (LACA) for 11% [4] - Despite challenges in the Americas, the rest of the world, which represents 50% of money transfer revenues, experienced double-digit transaction growth across all regions [4] Group 2: Migration Trends - Slower migration levels in Latin America have resulted in decreased intra-LACA remittance volumes, continuing a trend observed over several quarters [3] - The three fastest-growing corridors for the CMT business are from France to Morocco, Spain to the Dominican Republic, and the United Kingdom to Saudi Arabia [5] Group 3: Customer Resilience - During periods of rising inflation, Western Union's customers have shown more resilience compared to those of other industries, indicating the importance of remittances [6] - The company believes that even if tariffs affect consumer prices, its customers will remain relatively resilient due to the necessity of sending money home [6]

Group 1 - The article discusses the performance of Western Union (WU), noting a nearly 25% decline in stock price since May of the previous year, despite the analyst's previous hold rating [1] - The focus is on identifying companies with strong balance sheets and competitive advantages, aiming to purchase shares when they are undervalued in the market [1]

Financial Data and Key Metrics Changes - The company reported Q1 2025 revenue of $984 million, with adjusted revenue excluding Iraq declining by 2% due to a difficult comparison against the leap year last year [13][36] - Overall transaction growth was 3%, while cross-border principal growth was 10% on a constant currency basis excluding Iraq, indicating resilience in the customer base [13][36] - Adjusted earnings per share (EPS) came in at $0.41, down $0.04 compared to the same quarter last year, primarily due to the absence of higher revenues from Iraq [15][38] Business Line Data and Key Metrics Changes - The retail business in Europe showed strong performance with 10% transaction growth, leading to regional revenue growth of 5% [14][44] - The branded digital business continued to perform well with 14% transaction growth and 8% adjusted revenue growth [14][40] - Consumer services adjusted revenue was down slightly, impacted by a decline in the bill payment business in Latin America and seasonally slow performance in advertising and European travel [14][45] Market Data and Key Metrics Changes - North America transaction growth was about 1.5% lower in Q1 compared to the previous quarter, with significant declines in the US to Mexico corridor [12][22] - The Americas faced geopolitical headwinds, while the rest of the world, representing 50% of money transfer revenues, continued to perform well with double-digit transaction growth [11][25] - In Latin America, outbound remittances from Ecuador were down 25% year over year, reflecting broader trends across the region [20] Company Strategy and Development Direction - The company is focused on returning to sustainable profitable revenue growth by becoming more customer-centric and addressing past issues of overpricing and underinvestment [7][16] - The acquisition of Eurochange is seen as a strategic move to enhance distribution in the UK and expand foreign exchange services [17][29] - The company aims to leverage its globally diversified business model to capture share gains in various regions, particularly in Europe and the Middle East [10][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a difficult macro backdrop but expressed optimism about future growth driven by new agent wins and the Eurochange acquisition [7][37] - The company expects gradual improvement in results throughout the year, with a reaffirmation of its 2025 guidance for adjusted revenue between $4.115 billion and $4.215 billion [51][52] - Management highlighted the importance of operational efficiency, having saved $30 million in Q1, and anticipates a larger portion of these efficiencies contributing to the bottom line [47][49] Other Important Information - The company generated $148 million in operating cash flow in Q1, up 50% year over year, and maintained a strong balance sheet with cash and cash equivalents of $1.3 billion [48][49] - The adjusted operating margin was 19%, down from 20% the previous year, primarily due to elevated revenues from Iraq last year [38] Q&A Session Summary Question: Pressure on North American retail side and channel remixing - Management noted a slowdown across both digital and retail in North America, with no significant channel migration observed [57][59] Question: Clarification on guidance including Eurochange acquisition - The Eurochange acquisition is included in the guidance, which reflects a leveling off in macro conditions [60][64] Question: Contributions to improvement beyond Eurochange - New partnerships in the Middle East and strength in the travel money business are expected to drive improvement [70][72] Question: Observations from April and holiday timing impact - Management indicated that holiday timing has affected early Q2 performance, but underlying trends are stabilizing [81][84] Question: Digital transaction growth and loyalty program implications - The loyalty program aims to enhance customer retention, with modest impacts expected in the short term [90][92] Question: Competitive dynamics and geopolitical impacts - There has been consolidation among competitors, but the competitive environment remains stable [100][102] Question: Applying learnings from Europe to North America - The company is in the early stages of implementing strategies from Europe in North America, with potential for upside [108][116] Question: Update on payout to account business growth - The payout to account business is in the low double-digit range for retail transactions and high thirties for digital [124][127] Question: Strength in European corridors driving growth - Growth in Europe is driven by corridors to South America, Africa, and the Middle East, with a higher mix of payout to account transactions [133][135]

Financial Performance - First quarter 2025 revenue was $984 million, a decrease of 6% year-over-year, primarily due to lower contributions from Iraq[2] - GAAP EPS for Q1 2025 was $0.36, down from $0.41 in the prior year, while adjusted EPS was $0.41, down from $0.45[3] - Total consolidated revenues decreased by 6% to $983.6 million in Q1 2025, down from $1,049.1 million in Q1 2024[24] - Net income for Q1 2025 was $123.5 million, a decrease of 13.5% from $142.7 million in Q1 2024[22] - Consumer Money Transfer revenues fell by 9% to $872.9 million, compared to $962.0 million in the same period last year[24] - The company reported revenues (GAAP) of $3,798 million for FY2024, with a year-over-year decline of 5%[45] - Adjusted revenues (non-GAAP) for FY2024 are projected to be $4,083.3 million, with a year-over-year decline of 3%[39] Segment Performance - Consumer Money Transfer segment revenue decreased 9% on a reported basis, with transactions increasing by 3% compared to the prior year[4] - The Consumer Services segment revenue grew 27% on a reported basis, but was down 3% on an adjusted basis due to challenges in Argentina[8] - The company reported a 27% increase in Consumer Services revenues, rising to $110.7 million from $87.1 million year-over-year[24] - Branded Digital revenue grew 7% on a reported basis, with a 14% increase in transactions[5] Future Projections - The company expects full year 2025 revenue to be between $4,090 million and $4,190 million, with adjusted revenue between $4,115 million and $4,215 million[8] - Operating margin for 2025 is projected to be between 18% and 20% on a GAAP basis, and between 19% and 21% on an adjusted basis[8] - The company anticipates a revenue decline of 6% in Q1 2025 compared to Q1 2024[37] - The effective tax rate (GAAP) for FY2025 is projected to be between 19% and 21%, while the adjusted effective tax rate (non-GAAP) is expected to be between 13% and 15%[47] Cash Flow and Assets - Net cash provided by operating activities increased significantly to $148.2 million, compared to $94.0 million in Q1 2024[22] - Cash and cash equivalents at the end of Q1 2025 were $1,447.4 million, down from $1,540.8 million at the end of Q1 2024[22] - Total assets as of March 31, 2025, were $8,337.9 million, a slight decrease from $8,370.5 million at the end of 2024[20] Taxation - The GAAP effective tax rate for Q1 2025 was 16%, with an adjusted effective tax rate of 10%[8] - The company recorded an effective tax rate (GAAP) of 16% in 1Q24, which is expected to stabilize around 16% in 1Q25[43] Acquisitions and Organizational Changes - The company acquired Eurochange Limited in April 2025, enhancing its retail foreign exchange services in the UK[8] - The Company reorganized its international operations in Q4 2024, recognizing deferred tax assets associated with this reorganization[50] - The Company excluded non-cash recognition of deferred tax assets from its reported results due to its significance[50] Market and Regulatory Environment - The Company experienced a significant increase in business originating from Iraq starting March 2023, attributed to policy changes by U.S. and Iraqi regulators[50] - In July 2023, the U.S. Treasury and the Federal Reserve Bank of New York banned 14 Iraqi banks from conducting U.S. dollar transactions, impacting the Company's operations[50] - The Central Bank of Iraq suspended the Company's largest agent in October 2023, but the agent was later reinstated[50] - Management believes that revenue measures excluding Iraq revenues provide better consistency and comparability to prior periods[50] Transaction Metrics - The number of transactions in Q1 2025 was 70.8 million, a 3% increase compared to 69.0 million in Q1 2024[28] - The geographic split for transactions is based on the region where the money transfer is initiated, with specific regions defined for reporting[50] - Transactions marketed under the Company's brands initiated through digital platforms are categorized as "Branded Digital," excluding those from Iraq due to volatility[50]

Financial Performance - Revenues for the three months ended March 31, 2025, were $983.6 million, a decrease of 6% compared to $1,049.1 million in the same period of 2024[147] - Operating income decreased by 8% to $177.4 million for the three months ended March 31, 2025, down from $192.1 million in 2024[147] - Net income for the three months ended March 31, 2025, was $123.5 million, reflecting a 13% decline from $142.7 million in the prior year[147] - Basic earnings per share decreased by 10% to $0.37 for the three months ended March 31, 2025, compared to $0.41 in 2024[157] - Total expenses for the three months ended March 31, 2025, were $806.2 million, a decrease of 6% from $857.0 million in the same period of 2024[147] - Adjusted revenues (Non-GAAP) decreased by 8% for the three months ended March 31, 2025, primarily due to foreign currency translation and Argentina inflation impacts[151] Segment Performance - Consumer Money Transfer segment accounted for 89% of total revenues in Q1 2025, down from 92% in Q1 2024[161] - Consumer Money Transfer segment revenues decreased by 9% to $872.9 million for the three months ended March 31, 2025, compared to $962.0 million in the same period of 2024[162] - Operating income for the Consumer Money Transfer segment fell by 15% to $159.3 million, with an operating income margin of 18%[162] - Total transactions in the Consumer Money Transfer segment increased by 3% to 70.8 million for the three months ended March 31, 2025[162] - Cross-border principal transferred by consumers rose to $25.8 billion in Q1 2025, up from $24.6 billion in Q1 2024[167] - Adjusted revenue growth for the Consumer Money Transfer segment, net of foreign currency impacts and Argentina inflation, showed a decline of 8%[166] - Consumer Services segment revenues increased by 27% to $110.7 million, with operating income rising by 46% to $27.1 million[173] Cash Flow and Capital Structure - Cash provided by operating activities increased to $148.2 million in Q1 2025, compared to $94.0 million in Q1 2024[187] - As of March 31, 2025, the company had cash and cash equivalents of $1,289.0 million, down from $1,474.0 million at the end of 2024[183] - The company had outstanding borrowings of $2,800.0 million as of March 31, 2025, primarily consisting of unsecured fixed-rate notes[188] - The Revolving Credit Facility was increased to $1.6 billion on February 28, 2025, maturing on November 30, 2029[190] - The company has a total committed balance of $1.6 billion under its Revolving Credit Facility, with no outstanding borrowings as of March 31, 2025[192] - As of March 31, 2025, the company had $350 million in outstanding commercial paper borrowings with a weighted-average annual interest rate of approximately 4.6%[194] - Capital expenditures for the three months ended March 31, 2025, were $24.4 million, compared to $35.1 million for the same period in 2024[197] - The company repurchased 7.0 million shares for $75 million during the three months ended March 31, 2025, at an average cost of $10.76 per share[198] Tax and Liabilities - The board declared quarterly cash dividends of $0.235 per common share, totaling $78.8 million in the first quarter of 2025[199] - The company has a 2017 United States federal tax liability of approximately $800 million, with a final installment of about $221 million due in the second quarter of 2025[202] - As of March 31, 2025, the company had approximately $65 million in outstanding letters of credit and bank guarantees[205] - The company’s total amount of unrecognized income tax benefits was $53.7 million as of March 31, 2025[206] Interest Rates and Sensitivity - The effective tax rate for the three months ended March 31, 2025, was 16.1%, slightly up from 16.0% in 2024[156] - The company’s weighted-average effective rate on total borrowings was approximately 4.5% as of March 31, 2025[218] - A hypothetical 100 basis point increase in interest rates would result in a decrease to pre-tax income of approximately $12 million based on sensitive borrowings[219] - Interest expense increased by 25% to $32.6 million for the three months ended March 31, 2025, compared to $26.1 million in 2024[147] Revenue Impact Factors - A reduction in transactions originating from Iraq negatively impacted revenues by 6% for the three months ended March 31, 2025[152]

Market Overview - The Nasdaq-100 Index has experienced a significant decline, falling into a 13.2% correction, with many stocks down 20% or more [1][2] Company Analysis: Remitly - Remitly is a key player in the remittance market, currently facing a 27% drawdown [3] - The company reported a 33% year-over-year revenue growth, reaching $352 million, driven by a 32% increase in active customers to 7.8 million and a 39% growth in send volume to $15.4 billion [4] - Remitly holds a 3% market share in remittances and has seen its revenue outside the U.S. and Canada grow at a 100% year-over-year rate, reaching $297.1 million in 2024, accounting for 23.5% of total revenue [5] - The company has a market cap of $3.9 billion and generated $1.26 billion in revenue in 2024, with projections of reaching $2.5 billion by 2027 and a potential net income of $500 million, resulting in a price-to-earnings ratio below 8 [7] Company Analysis: Coupang - Coupang is a leading e-commerce platform in South Korea, comparable to Amazon in North America, with a focus on rapid shipping and low-cost delivery [8] - The company generated $30 billion in revenue in 2024, reflecting a 29% growth on a foreign currency-neutral basis [9] - Coupang is expanding its offerings with new initiatives such as food delivery, international expansion into Taiwan, video streaming, and luxury shopping through an acquisition of Farfetch [10] - The company is projected to generate $50 billion in annual revenue in the coming years, with a potential net income of $5 billion, while currently having a market cap below $40 billion [11]

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].

FOR IMMEDIATE RELEASE Western Union Reports Fourth Quarter and Full Year 2024 Results DENVER, February 4, 2025 – The Western Union Company (the "Company" or "Western Union") (NYSE: WU) today reported fourth quarter and full year 2024 financial results. The Company's fourth-quarter revenue of $1.1 billion increased 1% on a reported basis. The revenue increase was driven by growth in Consumer Services and Branded Digital. Results included a lower contribution from Iraq compared to the prior year period, which ...

Financial Data and Key Metrics - Revenue for Q3 2024 reached $1.040 billion, with adjusted revenue growth of 1% excluding Iraq, marking the second consecutive quarter of positive revenue growth [7][22] - Adjusted EPS was $0.46, up $0.03 compared to the same quarter last year, driven by higher revenues and operating profits from Iraq in the previous year [7][22] - Adjusted operating margins were 19.1%, slightly down from 19.6% last year, primarily due to elevated Iraq revenue in the prior year and strategic investments in Consumer Services [23] - Year-to-date adjusted operating margin was 19.2%, with adjusted EPS at $0.46 versus $0.43 last year, benefiting from higher adjusted revenue, lower share count, and a lower adjusted effective tax rate [24] Business Line Performance - Consumer Money Transfer (CMT) transactions grew 4% excluding Iraq, driven by the strength of the branded digital business and digital white label business [25] - Branded digital business accelerated with transaction growth of 15% and revenue growth of 9%, approaching double-digit growth aspirations [6][25] - Consumer Services segment saw 15% adjusted revenue growth, driven by expansion in FX business and Media Network business [6][17] - Retail business improved with debit card acceptance in Europe, showing transaction growth rates hundreds of basis points faster than cash-only agents [13][14] Market Performance - Latin America faced challenges due to geopolitical volatility, impacting intra-LACA migration and slowing transaction growth, particularly in the U.S. to Mexico corridor [8][54] - Europe, Middle East, and APAC regions improved, with revenue growth rates increasing by 500 to 1,000 basis points compared to Q2 [9][25] - Australia's branded digital performance was strong, reaching 25% revenue growth in Q3, driven by the new digital solution deployed in late 2022 [26] Company Strategy and Industry Competition - The company is executing its Evolve 2025 strategy, focusing on improving value proposition, expanding product offerings, and ensuring high-quality execution [4][5] - Two M&A transactions were signed, including the acquisition of Singaporean digital wallet business Dash and a digital wallet in Mexico, aimed at accelerating the company's mission to provide accessible financial solutions [18][20] - The company is investing in digital transformation, including improving the onboarding experience, marketing effectiveness, and user experience, which has translated into more customers, transactions, and revenue [10][11] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about the company's market position and progress in delivering strategic initiatives, with improving transaction trends across digital and retail businesses [21] - The company reaffirmed its 2024 adjusted outlook, expecting adjusted revenue in the range of $4.15 billion to $4.225 billion and adjusted EPS in the range of $1.70 to $1.80 [32] - The company is ahead of its original plan for the Evolve 2025 strategy, with better momentum in the retail business outside the U.S. and acceleration in Consumer Services [41][42] Other Important Information - The company entered into a settlement with the IRS, resolving one of two open disputes related to 2017 and 2018 tax returns, resulting in a $140 million noncash tax benefit and a $90 million cash payment [24] - Year-to-date, the company has returned $460 million to stockholders through dividends and share repurchases, maintaining a strong balance sheet with cash and cash equivalents of over $1 billion and debt of $2.6 billion [31] Q&A Session Summary Question: Impact of Latin America elections on Q4 guidance and U.S. election implications - The impact of Latin America elections is still fluid, but the company feels confident in its guidance for Q4 [34] - The U.S. election is not expected to have a dramatic effect on the business in the near to intermediate term, as the majority of clients are already in the U.S. and gainfully employed [35] Question: Spread between branded digital transactions and revenue growth - The spread between branded digital transactions and revenue growth widened due to the growth in payout to account transactions, which typically come at a lower revenue per transaction but are stickier customers [37] - The company targets a long-term spread of 200 to 300 basis points and is happy to keep it wide as it accelerates both revenue and transactions [38] Question: Progress towards Evolve 2025 targets and opportunities for further investment - The company is six months ahead of its original plan for the Evolve 2025 strategy, with better momentum in the retail business outside the U.S. and acceleration in Consumer Services [41] - The company is working on guidance for 2025 and plans to provide an outlook beyond 2025 in the second half of next year [44][45] Question: M&A strategy and vision for digital wallets in Singapore and Mexico - The company is focused on thoughtful and prudent deployments of capital to accelerate its strategy, with acquisitions providing access to licenses, technology, and local talent [47][48] - The acquisitions of digital wallets in Singapore and Mexico are expected to accelerate the company's ecosystem strategy and build on its momentum in key markets [18][20] Question: Retail business stability and growth drivers - The company is focused on improving operational excellence, agent network support, and customer experience at the point of sale to stabilize or grow the retail business [52] - Controlled distribution, including Western Union branded exclusive independent agents and own stores, is a key part of the strategy to achieve stable retail business [53] Question: Performance in North America, particularly U.S. to Mexico corridor - The slowdown in the U.S. to Latin America corridor, particularly Mexico, is largely macro in nature, with similar trends observed by competitors [54] - The slowdown in migration patterns in Latin America is impacting transaction growth rates, particularly in regions with high one-time customers [56] Question: Competitive environment and impact of competitor outages - The company saw some upticks in transaction volumes in markets where it competes directly with MoneyGram, but the outage did not fundamentally change the competitive environment [58] - The company remains vigilant in maintaining high-quality security and safety for its customers [58] Question: Debit card acceptance rollout and margin profile - The company is rolling out debit card acceptance in Europe and the U.S., with positive results in Europe showing higher principal per transaction and lower costs compared to cash-only transactions [69][72] - The company is monitoring the uplift in principal per transaction and transactions per location in the U.S. to determine if pricing adjustments are needed [73] Question: Expectations for Iraq in Q4 and revenue trends - The company expects Iraq revenue to be at the lower end of the $10 million to $30 million range in Q4, with volatility expected to continue [77] - The company is cautious about narrowing its public guidance due to the uncertainty in Iraq's revenue contribution [77] Question: Owned store strategy and expansion plans - The company is disciplined in selecting locations for owned stores to ensure sufficient revenue to cover fixed expenses and achieve critical mass in key markets [79] - The company is expanding its owned store network in Europe and Asia, with plans to add more locations in select countries [80] Question: Adjusted operating margins and guidance - The company has maintained a wide range for adjusted operating margins (19% to 21%) and does not expect to be at the upper end of the range, focusing instead on delivering revenue and EPS growth [83]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32903 THE WESTERN UNION COMPANY (Exact name of registrant as specified in its charter) Delaware (State or Other Jurisdiction of Incorp ...