Western Union stock falls after company misses Q4 sales forecasts
Shares of Western Union Co. fell 3% in the extended session Thursday after the financial services company reported adjusted fourth-quarter per-share earnings that met expectations but sales came in below forecasts. Western Union said it earned $212 million, or 48 cents a share, in the quarter, versus a loss of $1.1 billion, or $2.44 a share, in the year-ago period. Adjusted for one-time items, Western Union earned 49 cents a share, compared with 41 cents a share a year ago. Revenue fell 3% to $1.40 billion, from $1.44 billion a year ago, the company said. Analysts polled by FactSet had expected adjusted earnings of 49 cents a share on sales of $1.44 billion in the quarter. For 2019, the company guided for EPS between $1.83 a share and $1.95 a share. In the same press release, Western Union said its board approved a 5% increase to its dividend to 20 cents a share. The dividend is payable March 29 to shareholders of record on March 15. Shares of Western Union ended the trading day down 1.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.