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Last $18.31 USD
Change Today -0.16 / -0.87%
Volume 2.0M
WU On Other Exchanges
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As of 12:18 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

western union co (WU) Key Developments

The Western Union Company and Western Union Agent Sogexpress Unveils Remittance Platform for Haiti

The Western Union Company and Western Union Agent Sogexpress have launched a new platform that reportedly enables the Haitian diaspora to use remittances to finance renewable energy products for families and friends in Haiti. The platform features a dedicated website that allows local customers and senders living abroad to pre-order the solar light kit of their choice at www.klereayiti.com. They then use their order number to complete payment at participating Western Union Agent locations around the world via the Western Union Quick PaySM platform. Orders will be fulfilled by Sogexpress in three to five working days. Western Union and Sogexpress' corporate commitments provide an ecological and viable solution to address Haiti's 'energy poverty' challenge. The two companies are key partners of the 'Klere Ayiti' 'Light-up Haiti' initiative made possible by technical assistance funded by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, and the US Agency for International Development (USAID), and provided by Arc Finance. The objective of 'Klere Ayiti' is to catalyze new commercial business models that will increase consumer access to clean energy in Haiti. The model is based on one piloted in a previous MIF-Arc Finance-Sogexpress project executed in 2012 to 2013. The remittance platform will add a new financing option to enable Haitians to access larger systems that have economic, health, and social benefits.

The Western Union Company Retail Pay-Out Now at 1,500 Agent Locations

The Western Union Company announced Agent ELTA - Hellenic Post, Greece’s Postal Authority, has activated its entire network – expanding Western Union’s retail cash payout of international and domestic money transfers to more than 1,500 Agent locations across Greece. Western Union Agent - WorldBridge Payment Institution (Paylink) with presence in major city centers and extended operating hours has expanded its payment locations to 650 out of 1,000 following activation a week ago. Western Union also recently activated in-bound transfers directly into Greek bank accounts from family or loved ones from 30 countries across North America, Europe, CIS and Asia Pacific. The activation of Western Union international and domestic transfers follows a new law issued by the Greek government, allowing money transfer operators to resume intra as well as in-bound transactions under special conditions.

Western Union Renews Agreement with Cash Money® in Canada

The Western Union Company and Cash Money have announced that they will be extending their more than 20-year relationship. Western Union international and domestic money transfer and money orders and bill payment services will continue to be available at more than 170 Cash Money Agent locations. Through these services, funds can be sent from Cash Money Agent locations to nearly half a million Western Union Agent locations in more than 200 countries and territories around the globe. The Western Union® global money transfer system offers Cash Money and customers true international connectivity via cross-border money transfers in minutes between consumers, and also from consumers to businesses within Canada. Western Union services also provide the trustworthiness and reliability synonymous with the 160-year old brand.

The Western Union Company Reports Unaudited Consolidated Earnings for the Second Quarter and Six Months Ended June 30, 2015; Raises Earnings Guidance for the Year 2015

The Western Union Company reported unaudited consolidated earnings for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $1,383.6 million compared to $1,405.6 million a year ago. Operating income was $250.8 million compared to $278.3 million a year ago. Income before income taxes was $206.9 million compared to $232.1 million a year ago. Net income was $189.3 million or $0.36 per basic and diluted share compared to $193.8 million or $0.36 per diluted share a year ago. EBITDA was $313.7 million compared to $346.7 million a year ago. Adjusted EBITDA was $349.0 million compared to $346.7 million a year ago. Capital expenditures was $78 million. At the end of the quarter, the company had debt of $3.7 billion. For the six months period, the company reported total revenues of $2,704.5 million compared to $2,756.4 million a year ago. Operating income was $523.1 million compared to $550.3 million a year ago. Income before income taxes was $439.5 million compared to $459.5 million a year ago. Net income was $393.2 million or $0.75 per basic and diluted share compared to $396.8 million or $0.73 per diluted share a year ago. Net cash provided by operating activities was $465.7 million compared to $450.1 million a year ago. Purchases of property and equipment were $26.9 million compared to $34.3 million a year ago. EBITDA was $649.9 million. Adjusted EBITDA was $685.2 million. Adjusted earnings per share of $0.41 increased 14% from $0.36 in the prior year period, driven by the operating margin expansion, a lower effective tax rate and fewer shares outstanding. For the full year 2015, the company increased its expected EPS outlook, excluding the settlement impact, to a range of approximately $1.60 to $1.67. The constant currency revenue range outlook was also raised. The GAAP EPS outlook range is approximately $1.55 to $1.62. The company continues to expect the adjusted tax rate to be approximately 13%, although the gap rate is now projected at approximately 12%.

The Western Union Company and Western Union Agent Sogexpress Launch New Platform That Enables Haitian Diaspora to Use Remittances to Finance Renewable Energy Products for Families and Friends in Haiti

The Western Union Company and Western Union Agent Sogexpress launched a new platform that enables the Haitian diaspora to use remittances to finance renewable energy products for families and friends in Haiti, where only 28% of the population has access to electricity. The platform features a dedicated website that allows local customers and senders living abroad to pre-order the solar light kit of their choice. They then use their order number to complete payment at participating Western Union Agent locations around the world via the Western Union® Quick PaySM platform. Orders will be fulfilled by Sogexpress in three to five working days. Western Union and Sogexpress’ corporate commitments provide an ecological and viable solution to address Haiti’s “energy poverty” challenge. The two companies are key partners of the ‘Klere Ayiti’ – “Light-up Haiti” – initiative made possible by technical assistance funded by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, and the United States Agency for International Development (USAID), and provided by Arc Finance. The objective of ‘Klere Ayiti’ is to catalyze new commercial business models that will increase consumer access to clean energy in Haiti. The model is based on one piloted in a previous MIF-Arc Finance-Sogexpress project executed in 2012 to 2013. The remittance platform will add a new financing option to enable Haitians to access larger systems that have economic, health, and social benefits.

 

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