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Western Union
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Latest analysis
Updated Jul 30, 2026
Western Union Q2 2026: Margin Compression Deepens as Digital Mix Shift Accelerates, Beyond Efficiency Program Targets $200M Run-Rate Savings by End-2027
Western Union's Q2 2026 adjusted EPS of $0.31 missed expectations for the second consecutive quarter, driven by accelerating mix shift from high-margin cash payout to low-margin digital payout transactions, compounding U.S. retail attrition from immigration policy headwinds. Management launched the 'Beyond Efficiency' program targeting $50 million in run-rate cost savings by year-end 2026 and $200 million by end-2027, while simultaneously advancing a stablecoin strategy centered on USDPT and the Digital Asset Network. Full-year adjusted revenue guidance was reset to 4-6% growth inclusive of the pending Intermex acquisition, while adjusted EPS guidance was cut to $1.25-$1.35.
Tone: defensiveRevenue
$4.1B
WU 10-K · FY 2025
Employees
9,600
Revenue FY2024
$4.2B
Founded
1851
Profile
WU 10-K Item 1 · Feb 20, 2026Western Union is a global leader in cross-border money movement, payments, and digital financial services, operating through a retail agent network spanning more than 200 countries and territories and growing digital channels. The company generates revenue primarily from consumer money transfer fees and foreign exchange spreads. Its 'Beyond' strategy, announced in November 2025, targets expansion into digital wallets, consumer financial services, and a stablecoin-backed digital asset network.
Read filing description ↓ Collapse description ↑
The Western Union Company is a leader in cross-border, cross-currency money movement, payments, and digital financial services, empowering consumers, businesses, financial institutions, and governments with fast, reliable, and convenient ways to send money and make payments around the world. Our goal is to offer accessible financial services that help people and communities prosper. The Western Union brand is globally recognized and represents speed, reliability, trust, and convenience. Our business strategy centers on leveraging our global retail network and growing digital platforms to provide cross-border money movement and related financial services to customers worldwide, while increasingly operating as a digital-first company. Building on our traditional strength in consumer remittances, we are focused on expanding higher-growth digital channels alongside our physical agent locations to create a two-sided global financial services network. In November 2025, we announced our 'Beyond' strategy, in which we intend to serve customers by broadening our consumer services offerings and modernizing our payments infrastructure. This strategy emphasizes technology-led innovation, including expansion of digital wallets, consumer financial services, and a digital asset network supported by a U.S. dollar-denominated stablecoin initiative. We operate through two segments: Consumer Money Transfer and Consumer Services. Consumer Money Transfer, representing 87% of consolidated revenues for 2025, enables people to send money around the world through retail agent locations, Company-operated locations, branded websites, mobile applications, and third-party digital partner platforms. Consumer Services includes bill payment services, money order services, travel money services, check acceptance services, a media network, prepaid cards, lending partnerships, and digital wallets.
Primary products
- Consumer money transfer (retail)
- Branded Digital money transfer
- Bill payment services
- Money order services
- Travel money services
- Check acceptance services
Business segments
End markets
Geographies
Named customers
No individual agent or partner accounted for greater than 10% of the segment's revenue during any of the periods presented.
Named competitors
“We believe the most significant competitive factors in Consumer Money Transfer remittances relate to the overall consumer value proposition, including brand recognition, trust, reliability, consumer experience, price, speed of delivery, distribution network, variety of send and receive payment methods, and channel options.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
GAAP revenues declined 4% year-over-year, driven primarily by a reduction in transactions originating from Iraq (a 3% revenue headwind) and declines in North America and Latin America and the Caribbean regions, partially offset by a 1% favorable foreign currency translation impact.
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