Core Viewpoint - International Money Express, Inc. (Intermex) is set to release its Second Quarter 2025 earnings on August 11, 2025, after market close, followed by a conference call to discuss financial performance and operational achievements [1]. Company Overview - Founded in 1994, Intermex utilizes proprietary technology to facilitate money transfers from the United States, Canada, and Europe to over 60 countries [2]. - The company operates through a network of agent retailers, company-operated stores, a mobile app, and websites, fulfilling transactions via thousands of retail and bank locations globally [2]. - Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico; Guatemala City, Guatemala; London, England; and Madrid, Spain [2]. Investor Relations - The conference call will be hosted by the management team at 4:45 pm ET on August 11, 2025, with access available through the Investor Relations section of Intermex's website [3]. - Interested parties can register to participate in the call via telephone, receiving a dial-in number and unique PIN upon registration [3]. - An archived webcast of the conference call will be available for one year on Intermex's website following the event [3].

Financial Data and Key Metrics Changes - In the second quarter, adjusted revenue was reported at $1,026 million, reflecting a decline of 1% year over year when excluding Iraq impacts [2][21] - Adjusted earnings per share (EPS) decreased to $0.42 from $0.44 in the same quarter last year [3][22] - Adjusted operating margin remained stable at 19% for both the current and prior year [21][22] Business Line Data and Key Metrics Changes - Consumer money transfer (CMT) transactions declined by 3% in the quarter, with a 2% decline when excluding Iraq [22][23] - The branded digital business saw a 9% increase in transactions and a 6% increase in adjusted revenue [3][23] - Consumer services adjusted revenue grew by 41%, driven by the travel money business and the acquisition of EuroChange [30] Market Data and Key Metrics Changes - Retail business in The Americas faced challenges due to geopolitical factors, while retail in Europe showed mid-single-digit transaction and revenue growth [2][27] - The travel money business is projected to approach $100 million in revenue this year, a significant increase from previous years [2][3] - The U.S. to Mexico corridor, a major revenue driver, experienced a slowdown in both retail and digital transactions [39][45] Company Strategy and Development Direction - The company is focused on its Evolve 2025 strategy, aiming for sustainable, profitable revenue growth and enhancing customer experience [1][19] - There is a commitment to increasing digital transformation and expanding the digital wallet offerings in response to market changes [11][62] - The company is exploring stablecoin opportunities to modernize money movement and improve operational efficiency [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth despite current geopolitical challenges affecting transaction volumes [5][19] - The company is adapting to immigration policy changes that have created short-term headwinds, particularly in the U.S. market [6][62] - Future growth is expected to come from digital services and non-remittance products as core remittance growth stabilizes [62] Other Important Information - The company generated $148 million in cash flow from operations year to date, a significant increase from $60 million in the prior year [31] - Capital expenditures were reduced by 15% year over year, indicating a focus on strategic investments [32] - The company returned over $150 million to shareholders through dividends and share repurchases in the second quarter [32] Q&A Session Summary Question: Contribution of EuroChange acquisition to revenue growth - The EuroChange acquisition contributed approximately 2% to revenue growth in the quarter, exceeding initial expectations [36][38] Question: Impact of immigration crackdown on North America - There was no significant shift from retail to digital channels; both experienced a decline in transaction volumes [39] Question: Deceleration in digital transactions - The slowdown in digital transactions is primarily seen in U.S. outbound to Latin America, particularly Mexico [41][43] Question: Demand for stablecoin utilization - There is growing interest in stablecoin infrastructure, particularly in regions with currency controls, indicating potential for future growth [54][56] Question: Visibility into political headwinds affecting business - The impact of political headwinds is volatile, with fluctuations in transaction volumes observed [51][52] Question: Fraud losses in the quarter - Fraud losses were attributed to a duplicate payment issue during the implementation of a new payment network, but it did not significantly impact margins [68][70] Question: Changes in capital allocation strategy - There are currently no changes to the capital allocation strategy regarding buybacks versus dividends [86]

Core Viewpoint - The market is optimistic about Western Union's plans to integrate stablecoins, but there is skepticism regarding the long-term implications of this strategy [1]. Group 1: Company Analysis - Western Union (WU) is exploring the integration of stablecoins into its operations, which has generated significant market enthusiasm [1]. - The focus is on identifying companies with durable competitive advantages and strong balance sheets, suggesting that WU may be evaluated on these criteria [1].

Core Insights - Ria Money Transfer has acquired a 60% stake in Unidos Co., Ltd. (Kyodai Remittance), enhancing its presence in Japan's remittance market [1] - The acquisition allows Ria to integrate Kyodai's operations and digital products, providing access to a global network of over 624,000 locations and 4 billion bank accounts [2] - Japan's demographic changes, including a significant increase in labor migrants, are reshaping the remittance sector, with personal remittances from Japan reaching over USD $6.07 billion in 2024 [3] Company Overview - Ria Money Transfer is a business segment of Euronet (NASDAQ: EEFT) and is recognized for its innovative financial services, including fast and secure global money transfers [5] - The company operates the world's largest cross-border real-time money movement network, facilitating financial access for customers and partners [6] Strategic Partnership - Ria and Kyodai have collaborated since 2010, focusing on delivering a seamless customer experience through an omnichannel strategy [2] - The partnership is built on shared values and a commitment to providing secure and convenient money transfer solutions [4]

Core Viewpoint - Analysts expect Western Union to report quarterly earnings of $0.44 per share, indicating no change from the previous year, with revenues projected at $1.04 billion, down 2.9% year-over-year [1]. Earnings Estimates - There has been a 0.3% upward revision in the consensus EPS estimate over the last 30 days, reflecting analysts' reassessment of their forecasts [2]. - Changes in earnings estimates are crucial for predicting investor reactions to the stock, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts predict 'Revenue- Consumer Services' to be $115.08 million, representing a year-over-year increase of 13.5% [5]. - The estimate for 'Revenue- Consumer Money Transfer' is $919.69 million, indicating a decline of 4.7% compared to the previous year [5]. Transaction Estimates - The consensus estimate for 'Consumer Money Transfer transactions - Total' is 73.04 million, slightly down from 73.30 million reported in the same quarter last year [6]. Market Performance - Western Union shares have returned +0.5% over the past month, while the Zacks S&P 500 composite has increased by +5.9%, suggesting that WU is expected to perform in line with the overall market [6].

Core Insights - Euronet Worldwide, Inc. (EEFT) has partnered with Google to integrate its cross-border money transfer services, Ria Money Transfer and Xe, into Google's platforms, enhancing user access to these services [1][2][4] Group 1: Partnership and Market Position - The collaboration with Google allows Euronet to leverage Google's extensive global reach, increasing visibility and user engagement for Ria and Xe [2] - This partnership aligns with the trend of embedded finance, positioning EEFT competitively in the expanding digital remittance market [2][4] Group 2: Financial Implications - The global digital remittance market is projected to grow from $23.4 billion in 2024 to $83.2 billion by 2034, with a CAGR of 13.5%, indicating significant growth potential for EEFT's money transfer segment [3] - Ria and Xe support a vast payment infrastructure, including 3.2 billion mobile wallets, 4 billion bank accounts, and 624,000 locations globally, which could lead to substantial transaction volume growth with increased exposure from Google [3][9] Group 3: Competitive Landscape - Competitors like Western Union and PayPal are also expanding their remittance services, with Western Union focusing on digital and physical growth and PayPal scaling its remittance business through Xoom [5][6][7] Group 4: Valuation and Performance - Euronet's shares have increased by 4.2% year-to-date, slightly underperforming the industry average of 4.3% [8] - The company trades at a forward price-to-earnings ratio of 11.04, significantly lower than the industry average of 21.96, indicating potential undervaluation [10] - The Zacks Consensus Estimate for Euronet's 2025 earnings is $9.84 per share, reflecting a 14.3% increase from the previous year [11]

Financial Performance Highlights - Revenue increased by 130% to $773 million in Q1 2020 compared to $683 million in Q1 2019 [24, 16] - Adjusted EBITDA grew by 228% to $132 million in Q1 2020 compared to $108 million in Q1 2019 [6, 24, 20] - Net income increased by 802% to $57 million in Q1 2020 compared to $32 million in Q1 2019 [6, 24] - Free cash flow was estimated at $73 million in Q1 2020, a 52% increase from $48 million in Q1 2019 [7] - Adjusted EBITDA margin expanded by 136 basis points year-over-year to 171% [24] Operational Performance - Remittance volume increased by 173% [24] - The company converts 55% of Adjusted EBITDA to Free Cash after taxes, investments, and debt service [7] - Approximately 95% of independent agent retailers remained open for business during the COVID-19 pandemic [4] Market Position - Intermex's market share in Mexico was 180% in 2019 [22] - Intermex's market share in Guatemala was 254% in 2019 and 258% in Q1 2020 [22] COVID-19 Response - The company implemented social-distancing practices at Mexico and Guatemala call centers [4] - All headquarters employees were empowered to work from home efficiently [4] - All 33 Intermex operated stores were temporarily closed [4]

Financial Performance Highlights - Revenue for Q1 2020 reached $77.3 million, a 13% increase compared to $68.3 million in Q1 2019[21, 18] - Remittance volume in Q1 2020 was $2.6 billion, up 17.3% from $2.2 billion in Q1 2019[21, 15] - Adjusted EBITDA for Q1 2020 grew to $13.2 million, a 22.8% increase from $10.8 million in Q1 2019[21, 19] - Net income for Q1 2020 increased significantly to $5.7 million, an 80.2% rise compared to $3.2 million in Q1 2019[21, 5] - Free cash flow was $7.3 million in Q1 2020, a 52% increase from $4.8 million in Q1 2019[7, 35] Business Trends - Transaction growth saw a rebound, from -7.2% in April 2020 to 7.3% in May 2020[6] - Volume growth also recovered, from -7.2% in April 2020 to 8.7% in May 2020[6] Profitability and Efficiency - Adjusted EBITDA margin expanded by 136 basis points year-over-year to 17.1%[23] - The company is converting 55% of Adjusted EBITDA to Free Cash, after taxes, investments and debt service[7]

Second Quarter 2020 Performance - Revenue reached $85.1 million, a 2.9% increase compared to the second quarter of 2019[31] - Remittance volume totaled $2.8 billion, representing a 5.3% growth from the prior year period[31] - Adjusted EBITDA amounted to $17.4 million, a 6.8% increase year-over-year[31] - Net income increased by 26.9% to $9.0 million[31] - Adjusted EBITDA margin expanded by 75 basis points year-over-year to 20.4%[33] Growth Initiatives - Online business transactions grew by 884% in the second quarter of 2020 compared to the second quarter of 2019[14] - Online business customers increased by 608% in the second quarter of 2020 compared to the second quarter of 2019[14] - Emerging LATAM corridors experienced revenue growth of 17% from Q1 to Q2, now representing approximately 7% of total Intermex Revenue[16] Capital & Liquidity - Estimated free cash generated was $10.0 million in Q2 2020, a 16.4% increase of $1.4 million from Q2 2019[26] - The company converted 58% of Adjusted EBITDA to Free Cash after taxes, investments and debt service in Q2 2020[26] Third Quarter 2020 Guidance - The company projects revenue of $88 million – $91 million[36] - The company anticipates Adjusted EBITDA of $17 million - $18 million[36]

Core Insights - Western Union (NYSE: WU) is identified as a unique investment opportunity, particularly for those interested in turnaround situations, despite the company not meeting its initial targets [1] - The company has made significant progress in its operations, indicating potential for future growth and value creation [1] Company Analysis - Western Union has been underperforming against its initial targets but is showing signs of improvement, which may attract investors looking for recovery plays [1] - The focus on companies with robust, consistent, and predictable cash flows is emphasized, suggesting that Western Union may fit this criterion as it seeks to stabilize and grow [1] Market Context - The analysis reflects a broader investment philosophy that values both fundamental analysis and macroeconomic factors, which could influence Western Union's performance in the market [1] - The potential for market cycles to affect valuation discounts or premiums is acknowledged, indicating that Western Union's stock may be influenced by external economic conditions [1]