Western Union Company (the) · NYSE:WU
Western Union Company (the) — The Western Union Company — Q1 2026 Earnings Presentation
38 slides from Western Union Company (the)'s earnings presentation, Apr 24, 2026
Slide 1: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results April 24, 2026
Slide 2: Tom Hadley, VP of Investor Relations
Western Union Tom Hadley Vice President of Investor Relations 2
Slide 3: Forward-Looking Statements
Western Union Forward-Looking Statements This presentation contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumpti
Slide 4: Devin McGranahan, President & CEO
Western Union Devin McGranahan President & CEO 4
Slide 5: First Quarter Results
Western Union First Quarter Results $983 million GAAP revenue 13% 13% GAAP operating margin Adjusted operating margin* $0.20 $0.25 GAAP EPS Adjusted EPS* 5 *Note: See appendix for reconciliation of GAAP to Non-GAAP financial measures.
Slide 6: Executing Through Headwinds
Western Union Executing Through Headwinds Branded Digital Transaction Growth (YoY) Consumer Services Adj. Revenue* Growth (YoY) 22 21% 50 49% 20 45 18 40 41% 16 35 33% 14 13% 12% 30 26% 12 25 10 9% 20 8 15 6 4 10 2 5 0 0 2Q25 3Q25 4Q25 1Q26 2Q25 3Q25 4Q25 1Q26 6 *Note: See appendix for reconciliatio
Slide 7: Macro Landscape: A Dynamic Environment
Western Union Macro Landscape: A Dynamic Environment CMT Monthly Revenue Growth Trends (YoY) Guatemala Mexico Ecuador Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 7
Slide 8: Navigating Headwinds
Western Union Navigating Headwinds Macro Backdrop More consistent send patterns Remittances remains an important economic lever Western Union Initiatives Expanding Retail Footprint Geographic Diversification Digital First Approach 8
Slide 9: The Bigger Picture: Recent M&A Transactions
Western Union The Bigger Picture: Recent M&A Transactions Announced SPA Signed Announced (~$500M) Acquired Expected to close Q4 2024 Aug 2025 Mar 2026 Q2 2026 2022 Apr 2025 Nov 2025 Apr 2026 To Drive $5B Revenue Evolve 2025 Strategy by 2028 More to Come Launched Acquired (~£60M) Launched Acquired 9
Slide 10: M&A Strategy
Western Union M&A Strategy How Acquisitions Are Expected to Map to the BEYOND Strategy Strengthening Becoming Digital Beyond Retail First Remittances Strengthening of our footprint in high-value corridors Expanding presence in European Travel Money market Digital wallet capabilities access to APAC t
Slide 11: Focused on Scaling A Digital First Business
Western Union Focused on Scaling A Digital First Business 2025F Remittance Volume Growth by Select Countries Scaling a 4% Digital First, 4% Omnichannel 3% 3% platform to meet 2% customers Vietnam Singapore Philippines Australia Japan wherever they are 11 Source: World Bank, Migration & Development B
Slide 12: Union Stablecoin Strategy
Western Union Western Union Stablecoin Strategy Customers Value Proposition Western Union Value Proposition A Bridge between Crypto and Fiat Reduced Settlement Costs Digital Payments Access for the Competitive Differentiation Underbanked Global Accessibility New Business Lines USDPT USD Price Stabil
Slide 13: Creating Value Through Digital First Strategy
Western Union Creating Value Through Digital First Strategy 1 Launching DAN Network Partners in April 2026 Digital Asset • Launching 1st partner in April 2026 • 7+ partners going live in 2026 Network DAN gives crypto wallets 2 Bringing USDPT to Market in Q2 2026 worldwide access to Western Union glo
Slide 14: Digital First, Retail Enabled, Beyond Remittances
Western Union Digital First Retail Enabled We make financial services accessible to people everywhere Beyond Powered By Next Remittances Gen Payments 14
Slide 15: Matt Cagwin, Chief Financial Officer
Western Union Matt Cagwin Chief Financial Officer 15
Slide 16: Business Trends
Western Union Business Trends Adjusted Operating Margin* 1200 Adjusted Revenue Growth* 12% 1199.8 10% 8% 1199.6 6% 1199.4 4% 1199.2 2% 1199 0% 19% 19% 20% 20% 1198.8 (4%) (2%) (5%) (1%) -2% 13% (8%) -4% 1198.6 -6% 1198.4 -8% 1Q25 1Q25 2Q25 2Q25 3Q25 3Q25 4Q25 4Q25 1Q26 1Q26 1Q25 1Q25 2Q25 2Q25 3Q25
Slide 17: Building Long-Term Consumer Services Growth Through Strategic Execution
Western Union Building Long-Term Consumer Services Growth Through Strategic Execution Consumer Services GAAP revenue $147M Q1 2026 Adjusted Revenue* 14% of total company GAAP revenue $137M 12% Operating Margin Q1 2026 Consumer Services Segment $111M $87M 30 Countries / Territories Q1 Q1 Q1 2024 2025
Slide 18: Consumer Money Transfer Business Trends
Western Union Consumer Money Transfer Business Trends Key Highlights • Consumer Money Transfer Retail has experienced a 5% growth in PPT on a constant currency basis • Branded Digital achieved the 10th consecutive quarter of mid- single-digit or better adjusted revenue growth* Q1 2026 North America
Slide 19: Financial Highlights
Western Union Financial Highlights YTD March 31, 2026 Cash flow from operations $109 million Capital expenditures $47 million Leverage Ratios Dividends paid $74 million 2.8x* (Gross) Share repurchases $45 million Cash balance $909 million 1.8x* (Net) Debt outstanding $2.6 billion 19 *Note: See appen
Slide 20: 2026 Financial Outlook
Western Union 2026 Financial Outlook 1 Revenue2 EPS3 GAAP 5% to 8% $1.50 to $1.60 Adjusted* 6% to 9% $1.75 to $1.85 1 2026 Outlook assumes Intermex deal closes in the second quarter 2 Adjusted revenue growth excludes the impact of currency and Argentina inflation in quarters when hyperinflationary (
Slide 21: Cost Optimization Program
Western Union Cost Optimization Program Intermex Technology “Accelerating our $150M Operational Cost strategy from 5 Savings by 2028 years to 3 years” Corporate SG&A Account Payout Fees 21
Slide 22: Questions and Answers
Western Union Questions and Answers 22
Slide 23: Appendix
Western Union Appendix First Quarter 2026 23
Slide 24: Key Statistics and Reconciliation of Non-GAAP Measures
Western Union Key Statistics and Reconciliation of Non-GAAP Measures Western Union’s management believes the non-GAAP financial measures A non-GAAP financial measure should not be considered in isolation or as within this presentation provide meaningful supplemental information a substitute for the
Slide 25: Consolidated Metrics
Western Union Consolidated Metrics Revenues (GAAP) - YoY % change Adjusted revenues (non-GAAP) - YoY % change Adjusted revenues, excluding Iraq (non-GAAP) - YoY % change Operating margin (GAAP) Adjusted operating margin (non-GAAP) Consumer Money Transfer (CMT) Segment Metrics Revenues (GAAP) - YoY %
Slide 26: CMT Segment Regional Metrics
Western Union Notes 1925 2925 3Q25 4Q25_ _FY2025 1926 CMT Segment Regional Metrics - YoY % change NA region revenues (GAAP) (aa), (bb) (N% (1% (129% —(13)% ~—(11)% (uy NA region foreign currency translation impact @ 1% 0% 0% 0% 1% 1% Adjusted NA region revenues (non-GAAP) (aa), (bb) (6)% a)y% (12)%
Slide 27: Western Union
Western Union % of CMT Revenue NA region revenues EU & CIS region revenues MEASA region revenues LACA region revenues APAC region revenues Consumer Services (CS) Revenues (GAAP) - YoY % change Adjusted revenues (non-GAAP) - YoY % change Operating margin % of Total Company Revenue (GAAP) Consumer Mon
Slide 28: Consolidated Metrics
Western Union Notes 1925, 2025 3Q25, 4Q25 Fy2025_ [ 1026 | Consolidated Metrics (a) Revenues (GAAP) $ 983.6 $ 1,026.1 $ 10326 $ 10084 $ 4,050.7 Foreign currency translation and Argentina hyperinflation impact!!! @ (14.4) (4.0) (15.1) (4.1) (37.6) Revenues, constant currency, net of Argentina hyperin
Slide 29: Consolidated Metrics cont.
Western Union (b) (c) Consolidated Metrics cont. Operating income (GAAP) Acquisition, separation, and integration costs Amortization of acquisition-related intangible assets Severance costs/(release) Russia termination costs Adjusted operating income (non-GAAP) Operating margin (GAAP) Adjusted opera
Slide 30: Consolidated Metrics cont.
Western Union (d) w Notes 1Q25 2Q25 3Q25 4Q25 FY2025 Consolidated Metrics cont. Net income (GAAP) $ 123.5 $ 122.1 $ 139.6 $ 1144 $ 499.6 Provision for income taxes 23.8 37.6 28.0 36.7 126.1 Interest income (1.7) (1.8) (2.4) (2.0) (7.9) Interest expense 32.6 36.7 37.0 36.7 143.0 Depreciation and amor
Slide 31: Consolidated Metrics cont.
Western Union (e) (fp) Consolidated Metrics cont. Effective tax rate (GAAP) IRS settlement Non-cash tax impacts of international reorganization Other adjustments Adjusted effective tax rate (non-GAAP) Diluted earnings per share (GAAP) ($- dollars) Pretax impacts from the following: Acquisition, sepa
Slide 32: CMT Segment Metrics
Western Union Notes __ 1025 2025 3Q25 4Q25 FY2025 CMT Segment Metrics (g) Revenues (GAAP) S 872.9 $ 885.0 $ 8780 $ 8715 $ 35074 Foreign currency translation and Argentina hyperinflation impact!!! “@ 4 (5.7) (5.5) (47.2) (27.0) Revenues, constant currency, net of Argentina hyperinflation''! (non-GAAP
Slide 33: Western Union
Western Union w Notes 1925 2Q25 3QU5 4Q25 Fy2025, 1Q26 Net cash provided by’(used in) operating activities (GAAP) $ 1432 $ @3) $ 2604 $ 1354 $ 543.7 [S$ 109.0 Depreciation @5) @D 86 @4) G52) 5 Amortization @24) GL) io 3.6) (130.2) G8.) Other non-cash items, net, including deferred taxes G32) (03) G9
Slide 34: 2026 Consolidated Outlook Metrics
Western Union 2026 Consolidated Outlook Metrics Revenues (GAAP) - YoY % change Foreign currency translation impact Revenues, adjusted (non-GAAP) - YoY % change Effective tax rate (GAAP) Non-cash tax impacts of international reorganization Other adjustments Effective tax rate, adjusted (non-GAAP) Ear
Slide 35: Non-GAAP related notes
Western Union Non-GAAP related notes: (Represents the impact from the fluctuation in exchange rates between all foreign currency denominated amounts and the United States dollar. Constant currency results exclude any benefit or loss caused by foreign exchange fluctuations between foreign currencies
Slide 36: Western Union
Western Union @) @ © () © Represents revenues from transactions originated in Iraq. Beginning in March 2023, the Company experienced a significant increase in its business originating from Iraq. The Company believes this volume to have been the effect of policy changes by United States and Iragi reg
Slide 37: Other notes
Western Union Other notes: (aa) Geographic split for transactions and revenue, including transactions initiated digitally, is determined entirely based upon the region where the money transfer is initiated. (bb) Represents the North America (United States and Canada) (“NA”) region of the Company's C
Slide 38: Thank you.
Western Union Thank you. ©2026 Western Union Holdings, Inc. All rights reserved
The Western Union Company — Q1 2026 Earnings Presentation on 6ix