Western Union dials down outlook on Russia-Ukraine war

western-union-dials-down-outlook-on-russia-ukraine-war

Shares of Western Union Co. WU, +3.06% fell more than 4% in the extended session Thursday after the financial services company reported quarterly results within expectations but tweaked its 2022 outlook lower, saying it was impacted by halting its business in Russia and Belarus due to the war in Ukraine. Western Union said it earned $293.3 million, or 74 cents a share, in the first quarter, compared with $181.8 million, or 44 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 51 cents a share. Revenue fell 4% to $1.2 billion, hit by a decline in retail money transfers as well as a halt of services in Russia and Belarus starting in late March, the company said. Analysts polled by FactSet expected adjusted EPS of 43 cents a share on sales of $1.16 billion. Western Union guided for a decline in revenue by between 9% and 11%, and adjusted EPS between $1.75 and $1.85.

Source: Marketwatch

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