MoneyGram (MGI) Tops Q4 EPS by 3c, Offers Guidance
MoneyGram (NASDAQ: MGI) reported Q4 EPS of $0.01, $0.03 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $323.7 million versus the consensus estimate of $329.15 million.
GUIDANCE:
MoneyGram sees Q1 2020 revenue of $300 million, versus the consensus of $304.3 million.
- For the first quarter 2020, the Company anticipates total revenue of approximately $300 million, and Adjusted EBITDA of approximately $50 million, both on a constant currency basis.
- "We have invested proactively during the past several years to re-position MoneyGram as a modern, mobile, API-driven organization that is leading the evolution of digital P2P payments. While we begin 2020 with challenges in our US-outbound and US domestic walk-in businesses, we have a significant pipeline of agent renewals and new signings along with innovative digital products and growth opportunities that have the potential to offset these challenges and improve our financial performance," said Holmes. "We will continue to focus on growing our customer base, while implementing market-specific strategies that set us uniquely apart from the competition. We are excited about the underlying strength in our business and the momentum created by the transformation of our business."
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