The Western Union Company (NYSE:WU) Q4 2022 Results Conference Call February 7, 2023 4:30 PM ET
Company Participants
Brad Windbigler - IR
Devin McGranahan - CEO
Matthew Cagwin - CFO
Conference Call Participants
Tien-Tsin Huang - JPMorgan
Darrin Peller - Wolfe Research
David Togut - Evercore
Ramsey El-Assal - Barclays
Rayna Kumar - UBS
Chris Zhong - Credit Suisse
Will Nance - Goldman Sachs
Ken Suchoski - Autonomous
James Faucette - Morgan Stanley
Operator
Good day, and welcome to the Western Union Fourth Quarter and Full Year 2022 Results Conference Call. All participants will be in a listen-only mode. After today’s presentation there will be an opportunity to ask questions. Please note this event is being recorded.
I would now like to turn the conference over to Brad Windbigler, Head of Treasury and Investor Relations.
Brad, please go ahead.
Brad Windbigler
Thank you. On today's call, we will discuss the company's fourth quarter 2022 results, our financial outlook for 2023, and then we will take your questions. The slides 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. On our 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 cautionary language in the earnings release and in Western Union's filings with the Securities and Exchange Commission, including the 2021 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 and 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 CEO, Devin McGranahan.
Devin McGranahan
Good afternoon, and welcome to Western Union's fourth quarter 2022 financial results conference call. Our reported revenue in the fourth quarter was $1.1 billion, and excluding contributions from Business Solutions, decreased 6% on a constant currency basis.
This growth reflects a negative impact of 3 percentage points from the suspension of operations in Russia and Belarus continued softness in our retail business as well as our new branded digital marketing strategy, which includes promotional pricing.