MoneyGram Backs FY18 Revenue Growth Outlook - Quick Facts

(RTTNews) - MoneyGram International, Inc. (MGI) said Friday it estimates full-year 2018 constant currency revenue to decline between 4 and 6 percent, including the impact of new compliance standards and Walmart2World service. Adjusted EBITDA on a constant currency basis is also expected to decline between 8 and 10 percent.

On average, analysts polled by Thomson Reuters expect revenue decline of 3.9 percent to $1.54 billion for the year. Analysts' estimates typically exclude special items.

The company said its 2018 business restructuring initiatives are underway and are on track to deliver our projected cost savings of $30 million in 2018.

For the second quarter, net income decreased to $2.3 million or $0.03 per share from $6.2 million or $0.09 per share in the prior-year quarter. Adjusted earnings were $0.21 per share. Total revenue of $374.6 million declined 9 percent on a reported basis and 11 percent on a constant currency basis.

Analysts expected earnings of $0.16 per share on revenues of $387.88 million for the quarter.