MoneyGram Not Providing Q2 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Friday, MoneyGram International, Inc. (MGI) said it is not providing a second quarter outlook, as a result of the uncertainty created by the COVID-19 pandemic.

For the first quarter, the company reported a net loss of $21.5 million or $0.28 per share, wider than $13.5 million or $0.21 per share in the prior-year quarter. Excluding items, adjusted loss per share was $0.05, compared to a loss of $0.06 per share in the year-ago quarter. Total revenue for the quarter declined 24.5 percent to $290.9 million from the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share on sales of $292.67 million for the year. Analysts' estimates typically exclude special items.