The following is a summary of the The Western Union Company (WU) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Western Union reported Q1 2024 revenue of $1.05 billion, a 3% increase on an adjusted basis.

• Consumer Money Transfer Transactions grew by 6% in the quarter.

• Earnings per share were strong at $0.45, up 5% year-over-year.

• Capital of $230 million was returned to shareholders through stock repurchases and dividends.

• Adjusted operating margin was 19.7%, slightly lower than the previous year's 20.5%, primarily due to increased marketing costs.

• The company raised its revenue outlook for the full year to a range of $4.150 billion to $4.225 billion.

Business Progress:

• Western Union reported steady progress under its Evolve 2025 Strategy.

• The branded digital business grew by 9%, the highest growth since the third quarter of 2021.

• Services were expanded to over 700 new Swiss Post locations.

• Point of sale improvements including Quick Resend and One-Step Refund were introduced along with an expansion of the Universal Customer ID.

• A new loyalty program was launched, with more functionalities being rolled out.

• Digital wallet experiences were launched in Latin America and Brazil.

• Migration of the core transaction processing engine to the cloud is nearly completed.

• Western Union has expanded its partnership with Visa for global money transfers and partnered on issuing capacities.

• The company's focus has shifted towards a customer-centric approach and has made significant progress in stabilizing operational issues in Iraq.

• Western Union is developing a variety of products and services aimed at enhancing consumer services and margins.

More details: The Western Union IR

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