Western Union (NYSE: WU) reported Q1 EPS of $0.44, $0.02 better than the analyst estimate of $0.42. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.23 billion.

President and CEO Hikmet Ersek said, “In these unprecedented times, Western Union’s mission to serve our customers in their efforts to support families, communities, and businesses around the world has never been more relevant. We are pleased that the progress we have made in our digital focused growth strategy, coupled with our leading cross-border, cross-currency platform and strong financial condition have positioned us well to deliver our essential services during this crisis and to drive profitable growth in the future.”

Ersek added, “Our top priority now is the safety and well-being of all of our stakeholders: employees, customers, agents and partners, and shareholders, and we are taking appropriate actions; implementing business contingency plans, modifying commercial practices, and focusing on the stability and competitive position of our company. Over the long-term we are confident that our resilient fundamentals, strong financial position, and sound strategy will enable us to expand our unique global money transfer and payment ecosystem to existing and new customer segments.”

CFO Raj Agrawal stated, “In the first quarter, our business produced solid cash flow and continued to support our capital priorities, including investing in the business and a meaningful dividend payout. Given Western Union’s leadership position in a historically stable market, sturdy balance sheet, and ample liquidity, we are confident that as the world recovers from COVID-19 our business will get back to strong and stable financial performance.”

For earnings history and earnings-related data on Western Union (WU) click here.