Western Union (WU) Company Report

Western Union's President and CEO, Devin B. McGranahan, stated that the company is largely on track with its "Evolve" financial goals set in 2022, despite a different path and lower current run rate influenced by geopolitical factors, such as North American immigration policy.
The retail business, currently around $2.5 billion, is projected to shrink by low single digits over the next three years, primarily due to North American trends, while European retail is growing at low double digits. The acquisition of Intermex, expected to add $500 million-$600 million in revenue, is intended to accelerate the North American retail model and expand the payout network.
The company aims for 50% of its revenue to come from digital and consumer services by 2028, with consumer services projected to reach $1 billion in the same year. The base digital business is growing at 12% and is expanding aggressively into Asia and South America.
Western Union views its digital asset network and proprietary stablecoin, USDPT, as significant opportunities to reduce pre-funding capital, provide off-ramps for digital assets, and offer a stablecoin with card access, potentially converting a negative float business into a positive one.
The company provided a financial outlook for 2028, targeting revenue between $4.8 billion and $5.3 billion and $2.30 in EPS, assuming the global remittance market grows at 3%-4%.

3 days ago

Transcript

Western Union Discusses Strategic Outlook and Digital Transformation

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Western Union's CEO, Devin B. McGranahan, reported that the company is largely meeting its "Evolve" financial goals from 2022, though the path was influenced by geopolitical factors, with the European business and consumer services outperforming expectations.
The company has achieved 70% market competitiveness in pricing, moving to a strategic model with dynamic FX-based adjustments, and is expanding its digital business into Asia and South America with a target customer acquisition cost (CAC) under $20.
The acquisition of Intermex, expected to add $500 million-$600 million in revenue, is a key driver for accelerating the retail model and leveraging digital synergies with Intermex's 6 million customers.
Western Union aims for non-remittance revenues to reach 25% by 2028 (up from 15%) and the consumer segment to generate $1 billion by 2028, supported by new offerings including its own stablecoin, USDPT, and a digital asset network.
The company provided a financial outlook targeting $4.8-$5.3 billion in revenue by 2028 and $2.30 in EPS, with upside potential from digital asset network execution and favorable policy changes.

3 days ago

Transcript

Western Union Discusses Strategic Outlook and 2028 Financial Goals

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Western Union's "Evolve" strategy, launched in 2022, largely met expectations, though the path and current run rate were lower than anticipated due to geopolitical factors, resulting in Q3 GAAP revenue being flat.
The company is accelerating its digital business, targeting low double-digit revenue growth and mid-teens transaction growth, with a customer acquisition cost under $20, and is aggressively expanding into Asia and South America.
The retail business, currently around $2.5 billion, is projected to shrink by low single digits over the next three years, primarily due to North American trends, while the European retail segment is experiencing low double-digit growth.
The acquisition of Intermex is anticipated to contribute $500 million-$600 million in revenue, leveraging Western Union's global payout network and digital capabilities.
Western Union aims for non-remittance revenues (Consumer Services) to reach 25% of total revenue by 2028 and $1 billion in 2028, driven by initiatives like its Digital Asset Network and proprietary stablecoin (USDPT), which is expected to reduce pre-funding balances and generate positive float. The company also provided 2028 guidance, targeting revenue of $4.8-$5.3 billion and $2.30 in EPS.

3 days ago

Transcript

Western Union Discusses Macro Trends, Strategic Pricing, and Digital Asset Initiatives

New Projects/Investments

Demand Weakening

Revenue Acceleration/Inflection

Western Union's President and CEO, Devin McGranahan, noted that the U.S. consumer is under duress, particularly the mass market, leading to pressured North American results with transactions down but principal per transaction up. Conversely, the economy outside the U.S. is seen as resilient, with strength in the Middle East and progress in Asia.
The company has implemented $450 million in pricing actions since Q3 2022 to shift to market-based pricing, aiming to become a share acquirer rather than a share donor by leveraging its brand trust, compliance, and distribution with competitive pricing.
Western Union has made significant investments in technology, viewing itself as a tech company, and is building a fully enabled funds in, funds out network that includes digital assets and direct integration into real-time payment systems in multiple countries.
The company is pursuing opportunities with digital assets, including using them for treasury operations to free up capital, opening up "last mile" access for digital asset to fiat conversion through its Digital Asset Network, and launching USDPT (its own coin) and the Stable Card to offer consumers the option to hold U.S. dollars and provide a payment mechanism for local purchases.

4 days ago

Transcript

Western Union Discusses Strategic Shifts, Digital Asset Initiatives, and Macro Environment at JPMorgan Conference

New Projects/Investments

Revenue Acceleration/Inflection

Demand Weakening

Western Union has undertaken a strategic shift to market-based pricing, implementing $450 million in pricing actions since Q3 2022, aiming to transition from an "industry's largest share donor" to a "share acquirer" by combining its brand and distribution with competitive pricing.
The company is making significant investments in technology, including the "Beyond" digital platform (live in Canada, planned for U.S. in 2025) and a new, open-architecture payment network designed for global scale.
Western Union is pursuing a three-pronged digital asset strategy involving USDPT and a Stable Card to optimize treasury operations, provide "last mile" access for digital asset to fiat conversion, and offer new consumer services like digital savings accounts and local purchasing power, potentially freeing up meaningful capital.
The U.S. mass market consumer is experiencing duress, leading to pressure on North American results, with transactions down but principal per transaction up by 9%; however, international economies, particularly in the Middle East and Asia, are showing resilience.

4 days ago

Transcript

Western Union Outlines Strategic Focus on Pricing, Tech, and Digital Assets

New Projects/Investments

Revenue Acceleration/Inflection

Demand Weakening

Western Union observes a "two-gear economy" in the U.S., with its mass-market consumer facing duress, which continues to pressure North American results, though principal per transaction is up 9%. Outside the U.S., the company sees a generally resilient economy, with strength in the Middle East and reasonable progress in Asia.
The company has implemented $450 million in pricing actions to transition to market-based pricing, aiming to become a share acquirer by combining its trusted brand and distribution with competitive pricing.
Western Union is investing significantly in technology, considering itself a "tech company", and plans to migrate its U.S. digital business to its next-generation "Beyond" platform next year, which is already live in Canada.
The company is developing a two-sided, open-architecture payment network that includes digital assets, designed to integrate directly into real-time payment systems globally and offer "last mile" access for digital asset to fiat conversion.
Western Union is exploring opportunities with its USDPT stablecoin and Stable Card to enhance treasury operations by freeing up capital, and to provide consumers with a digital savings account and payment mechanism that circumvents traditional banking requirements.

4 days ago

Transcript

Western Union Unveils 'Beyond' Strategy and Financial Projections

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Western Union has introduced its "Beyond" strategy to transform into a digital-first financial services network, expanding beyond traditional remittance services.
The company projects revenue to grow roughly 20% by 2028, reaching between $4.8 billion and $5.3 billion, and adjusted earnings per share to increase by about 30% over the next three years.
This growth is anticipated from double-digit revenue increases in its Consumer Services segment and the expansion of its Digital Asset Network and USDPT stablecoin strategy, despite a -1.2% average annual decline in operating margin over the past five years.
Analysts maintain a cautious outlook, with some issuing neutral or sell ratings due to concerns over high leverage and technical market factors.

Nov 7, 2025, 1:45 AM

Morningstar

Western Union Outlines 2028 Financial Targets and Strategic Shift at Investor Day 2025

Guidance Update

New Projects/Investments

M&A

Western Union projects 2028 revenue of $5 billion and adjusted EPS of $2.30, with over $1.7 billion in free cash flow expected over the next three years.
For 2025, the company anticipates adjusted revenue between $4,035 million and $4,135 million and adjusted EPS between $1.65 and $1.75.
The company is strategically expanding "Beyond Remittances," targeting $1 billion in Consumer Services revenue by 2028 and expecting Digital and Consumer Services to account for approximately 50% of total revenue by 2028, up from ~30% in 2022.
Shareholder returns include $1.8 billion through dividends and share buybacks over the past three years, with $1 billion in dividends and $900 million in stock buybacks, resulting in the retirement of 20% of outstanding shares.
The Intermex acquisition is expected to contribute $0.5 billion to $0.6 billion to 2028 revenue, add 10 cents incremental EPS in the first full year, and generate $30 million in annual cost synergies.

Nov 6, 2025, 6:00 PM

Presentation

Western Union Outlines 2028 Financial Targets and Strategic Growth Initiatives

Guidance Update

M&A

New Projects/Investments

Western Union projects total revenue to grow to between $4.8 billion and $5.3 billion by 2028, with adjusted revenue per share reaching $2.30 by 2028, a 30% increase over 2025.
The company expects to generate $1.7 billion in free cash flow over the next three years.
Growth will be fueled by the Intermex acquisition, anticipated to be accretive and add $0.10 of EPS in its first full calendar year post-close, and the Consumer Services segment, which is forecast to achieve $800 million to $1 billion in revenue by 2028.
Western Union is also developing a Digital Asset Network to bridge digital currencies to fiat, with funds-out ramps expected to be activated in the first half of 2026.
The company successfully completed its $150 million cost-free deployment program two years ahead of schedule and returned $1.8 billion to shareholders through dividends and share buybacks over the past three years.

Nov 6, 2025, 6:00 PM

Transcript

Western Union Introduces "Beyond" Strategy and Provides Medium-Term Financial Outlook

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Western Union introduced its "Beyond" strategy at an Investor Day on November 6, 2025, emphasizing a digital-first approach and expansion of its Digital Asset Network and USDPT stablecoin strategy.
The company provided a medium-term financial outlook for 2028, projecting revenue between $4.8 billion and $5.3 billion.
Adjusted earnings per share (EPS) for 2028 are expected to range from $2.15 to $2.45.
Western Union anticipates its Consumer Services segment will continue to achieve double-digit revenue growth.

Nov 6, 2025, 1:04 PM

8-K

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