The Western Union Co

WU: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$37.00	Jlxdhnr	Mcztfxmv

Western Union Sees Headwinds in Second Quarter

Brett Horn

Aug 4, 2022

Western Union's second-quarter results showed the company struggling with a difficult end market and its decision to exit Russia. Further, the company announced that two large retail agents in Europe will downscale their relationships over the next year, which will negatively affect revenue, and digital revenue also appears to be facing some headwinds. On the bright side, Western Union has improved margins. After reassessing our projections, we expect to reduce our $22 fair value estimate for the wide-moat company by about 10%.

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