Western Union Co. on Wednesday issued preliminary third-quarter results.
The payments company said it expects revenue to decline 15% to $1.1 billion compared to the year-ago period. The company said suspended operations in Russia and Belarus negatively decreased revenue by about three percentage points in the quarter, while inflation in Argentina boosted revenue by about one percentage point. Analysts polled by FactSet expected $1.08 billion in revenue.
The Denver-based company also said it expects earnings per share of 45 cents and adjusted earnings per share of 42 cents in the quarter. Analysts polled by FactSet expected earnings per share of 49 cents and adjusted earnings per share of 39 cents.
Western Union maintained its previously stated outlook for full year 2022, which assumes that macroeconomic softness will persist for the remainder of the year. The company guided for revenue to decline 11% to 13% and for adjusted earnings per share between $1.75 to $1.85 for the period.