The Western Union Company (NYSE:WU) Q2 2023 Results Conference Call July 26, 2023 4:30 PM ET

Company Participants

Tom Hadley - Head, IR

Devin McGranahan - CEO

Matt Cagwin - CFO

Conference Call Participants

Will Nance - Goldman Sachs

Andrew Schmidt - Citi

Bryan Keane - Deutsche Bank

Darrin Peller - Wolfe Research

David Togut - Evercore

Jason Kupferberg - Bank of America

Ken Suchoski - Autonomous

Rayna Kumar - UBS

Tien-Tsin Huang - JPMorgan

Tim Chiodo - Credit Suisse

Vasu Govil - KBW

Operator

Good day, and welcome to the Western Union Second Quarter 2023 Results Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Tom Hadley, Head of Investor Relations. Tom, please go ahead.

Tom Hadley

Thank you. On today's call, we will discuss the company's second quarter 2023 results, and then we will take your questions. The slides that accompany this call and webcast can be found at westernunion.com under the Investor Relations tab and will remain available after the call. Additional operational statistics have been provided in supplemental tables with our press release.

Joining me on the call today is our CEO, Devin McGranahan and our CFO, Matt Cagwin. Today's call is being recorded, and our comments include forward-looking statements. Please refer to the cautionary language in the earnings release and in Western Union's filings with the Securities and Exchange Commission including the 2022 Form 10-K for additional information concerning factors that could cause actual results to differ materially from the forward-looking statements.

During the call, we will discuss some items that do not conform to generally accepted accounting principles. We have reconciled those items to the most comparable GAAP measures in our earnings release attached to our Form 8-K as well as on our website, westernunion.com, under the Investor Relations section.

I will now turn the call over to our Chief Executive Officer, Devin McGranahan.

Devin McGranahan

Good afternoon, and welcome to Western Union's Second Quarter 2023 Financial Results Conference Call. We are pleased with the results we reported today and the progress we are making against our Evolve 2025 strategy. The work we have been doing to deliver sustainable, positive revenue growth is beginning to take effect.

In the quarter, we continued to drive improvements in the underlying trajectory of our business with positive transaction trends across both our branded digital and our retail businesses. Recall, 2 key pillars of our Evolve 2025 strategy includes stabilizing our retail business and returning our digital business to low double-digit growth rates. The second quarter was continued evidence we are making good progress on both objectives.