The Western Union Company (NYSE:WU) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 04:30 pm ET


The Western Union Company (NYSE:WU) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to The Western Union Company Second Quarter 2020 Earnings Release Conference Call.

[Operator Instructions]

I would now like to turn the conference over to Brendan Metrano, Vice President, Investor Relations, Western Union. Please go ahead.

Brendan Metrano

Thank you. On today's call, we will discuss the Company's results for the second quarter of 2020, and then we will take your questions.

The slides that accompany this call and webcast can be found at 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. Western Union is still following work from home policies. So on our remote call today is our CEO, Hikmet Ersek; our CFO, Raj Agrawal; and Head of Treasury and Investor Relations, Brad Windbigler.

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 2019 Form 10-K for additional information concerning factors that could cause actual results to differ materially from 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 on our website,, under the Investor Relations section. We will also discuss certain adjusted metrics. Although the expenses that have been excluded from adjusted metrics are specific to these initiatives, the types of expenses may be similar to types of expenses that the Company has previously incurred and can reasonably be expected to incur in the future.

All statements made by Western Union officers on this call are the property of The Western Union Company and subject to copyright protection. Other than the replay noted in our press release, Western Union has not authorized and disclaims responsibility for any recording, replay or distribution of any transcription of this call.

I will now turn the call over to our CEO, Hikmet Ersek.

Hikmet Ersek

Thank you, Brendan, and thank you all for joining our earnings call this afternoon. We hope you and your families are safe and well during these unprecedented times. On today's call, Raj and I will discuss the Company's performance during the second quarter, underlying business conditions and plans to drive our growth strategy forward.

As you all are aware, the second quarter continued to be a tiring time for people around the world, facing the COVID-19 pandemic. At the onset of the pandemic, Western Union took swift action to support the safety and well-being of all our stakeholders with a focus on Western Union employees and customers, but also our agent partners and the communities we are operating. And we continue to operate with the same diligence.

In addition, during the quarter, concerns over social justice came to the forefront globally, Western Union has long stood for values of equity and inclusion, which are core to our mission as a global, socially conscious company