MoneyGram (MGI) Reports In-Line Q1 EPS, Revenues Miss

MoneyGram (NASDAQ: MGI) reported Q1 EPS of ($0.05), in-line with the analyst estimate of ($0.05). Revenue for the quarter came in at $290.9 million versus the consensus estimate of $292.67 million.

"I'd first like to offer my heartfelt appreciation to our employees and partners whose tireless efforts, combined with our leading digital capabilities, allowed us to provide uninterrupted service to our customers during these unprecedented times," said MoneyGram Chairman and CEO Alex Holmes. "We were encouraged by the strong start to the quarter with transaction growth in all channels accelerating from the fourth quarter. The pandemic caused sudden and significant global disruption and MoneyGram certainly was not immune. At the onset of COVID-19, our Walk-In Channel experienced a significant downturn, while in contrast, our Digital Channel continued its positive momentum as consumers increasingly value the ease and convenience of our leading offerings."

Second Quarter 2020 Outlook Update

As a result of the uncertainty created by the COVID-19 pandemic, the Company is not providing a second quarter outlook.

For earnings history and earnings-related data on MoneyGram (MGI) click here.

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