This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MoneyGram's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: MGI

Revenue in the US to US business accelerated above last quarter’s growth. As we stated previously in the fourth quarter, we will finally lap a $5 for $50 pricing which was implemented last year in 2010.

Our US agent base continues to grow. This week, we were excited to launch our service with QC Holdings in Kansas City. QC will offer MoneyGram money transfer bill payments and money orders in more than 300 locations, and through them we extend our presence with a leading pay-day lender.

Our US outbound business also had another solid quarter, reporting transaction growth of 9%, which was driven by sends to Mexico, where again accelerated our growth to report 13% growth. We are really pleased with especially since the corresponding revenue growth was also double-digit. This is the eighth consecutive quarter of accelerated growth in US to Mexico transactions. In Mexico, we recently signed an agreement with De Banco. This addition provides improved covered in and around Mexico City and many resorts import areas. We continued to improve our network in Mexico which we believe has much to do with our outside market gains we’ve been reporting there.

Sends from the US to other areas in Latin America such as El Salvador, Guatemala and Honduras remain strong. In Latin America, we previously announce the signing of several agreements and are please to share we will be launching next week our service with Banco de Credito in 350 locations.

Intra LAC sends are growing, as migrant consumers seeking work make alternative choices to traditional quarter patterns. US send transactions to non-Latin America markets help to round out a very solid quarter. Transactions sends to Philippines, Ghana, Romania, India, Russia and China among others all delivered very good transaction growth in the third quarter.

Now send transactions originating out of the US remain very healthy, delivering our eighth consecutive quarter of double-digit transaction growth and this despite a weak global economy. Whether it’s been political turmoil in the Middle East and North Africa, or economic and employment challenges across parts of Europe, our team at MoneyGram has navigated these situations well. Our customers have shown incredible resilience, and our business continues to grow at exceptional rate during the tough times. We think we’ve been focusing on the right corridors for growth.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,859.42 +54.62 0.31%
S&P 500 2,073.22 +2.57 0.12%
NASDAQ 4,776.0770 +10.6970 0.22%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs