MoneyGram Issues FY19 Outlook - Quick Facts

(RTTNews) - MoneyGram (MGI) announced, for the full year 2019, the company is projecting revenue to decline approximately 2 to 4 percent on a constant currency basis and adjusted EBITDA is expected to decline approximately 8 to 12 percent on a constant currency basis. As a result of the company's compliance changes implemented in 2018, the company anticipates the bulk of the revenue and adjusted EBITDA decline to occur in the first half of the year.

MoneyGram anticipates returning to full year growth for both revenue and adjusted EBITDA, on a constant currency basis, in 2020.

"Looking forward, 2019 will be the Year of the Customer - the year to acquire, learn, and retain. The results of the customer experience initiatives launched last year will enable us to recapture growth, deliver on our vision to offer an exceptional experience with each transaction and continue to lead in compliance. As we capitalize on the strength of our digital & physical network we will provide consumers with the protection, choice and convenience they demand in this omnichannel environment," said Alex Holmes, MoneyGram's chairman and CEO.

For the fourth-quarter, adjusted EBITDA was $60.0 million and decreased by $11.3 million compared to fourth quarter 2017. Adjusted diluted earnings per share was $0.01, for the quarter. Total revenue of $345.8 million declined 15% on a reported basis and 14% on a constant currency basis compared to fourth quarter 2017.