MoneyGram (MGI) Tops Q4 EPS by 4c

MoneyGram (NASDAQ: MGI) reported Q4 EPS of $0.12, $0.04 better than the analyst estimate of $0.08. Revenue for the quarter came in at $323.3 million versus the consensus estimate of $326.62 million.

First Quarter 2021 Outlook:

Assuming the global economic environment were to remain consistent with the fourth quarter the Company is providing the following outlook:

For the first quarter of 2021, the Company anticipates reporting total revenue of approximately $300 million on the strength of its money transfer business and continued triple-digit cross-border MoneyGram Online growth, partially offset by an estimated $8 million reduction in gross investment revenue.

In addition, the Company is not planning for any benefit from Ripple market development fees in the first quarter. Due to the uncertainty concerning their ongoing litigation with the SEC, the Company has suspended trading on Ripple's platform. In the first quarter of 2020, the Company realized a net expense benefit of $12.1 million from Ripple market development fees.

Based on the combination of these factors, the Company anticipates reporting Adjusted EBITDA of approximately $50 million in the first quarter of 2021.

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

You May Also Be Interested In

• Adobe Systems (ADBE) Tops Q3 EPS by 12c, Offers Guidance
• Jacobs (J) Announces Record Date and Distribution Date for the Spin-Off of Its Critical Mission Solutions and Cyber & Intelligence Government Services Businesses
• Zenas BioPharma (ZBIO) Prices Upsized 13.24M Share IPO at $17/sh