Saturday, April 30, 2022

Western Union Expands Collaboration with UK Post Office to Offer Retail Cross-Border Money Transfers

 DENVER & LONDON -Friday 29 April 2022 [ AETOS Wire ]


Expansion follows successful UK Post Office digital cross-border money transfers roll-out in 2019


Western Union services to become available in 4,000 UK Post Office locations, doubling Western Union’s UK retail network


(BUSINESS WIRE)-- Western Union (NYSE: WU) announced today that it is expanding its collaboration with the UK Post Office to provide retail cross-border money transfers. This alliance is part of the Company’s continued enhancement of its omni-channel offering, serving its customers across the full range of physical and digital touchpoints and channels.


Providing UK Post Office customers a truly omni-channel experience


UK Post Office customers will now be able to benefit from Western Union’s omni-channel experience, choosing to send money to their families and loved ones overseas via Western Union’s UK Post Office digital services or in-person at 4,000 UK Post Office locations across the United Kingdom. Customers can now start transactions digitally or in a retail location and have their funds paid out in cash, directly onto a card, into a mobile wallet, or directly into a bank account, via Western Union’s global network.


“I am delighted that Western Union, one of the world’s biggest financial networks, and UK Post Office, the UK’s biggest retail network, are expanding our collaboration, aiming to serve our customers better in a transformed post-pandemic environment,” said Devin McGranahan, Western Union President and CEO. “At the same time, today’s announcement shows how we at Western Union continue to see our leadership in retail as critical to our success, and as a critical element of our omni-channel offering. As we continue to expand our global network, we will seek not only to improve access, but also, importantly, working with our partners, to truly transform the retail experience we offer our customers, in the UK and across the world.”


Serving communities across the UK


Many of the 4,000 UK Post Office locations where Western Union’s retail services will be initially rolled-out are located in communities across the country that have seen increasing volumes of closures of local bank and credit union branches. These communities will now have more options to connect, seamlessly, to the global economy, improving financial inclusion, increasing footfall for thousands of the UK Post Office’s independent postmasters and further supporting the success of attached small retail businesses.


“I am delighted to be expanding our partnership with Western Union, allowing customers to choose whether they want to use the money transfer service digitally or prefer to do it face-to-face,” said UK Post Office CEO, Nick Read. “Postmasters are knowledgeable, reliable and can provide that assurance that a transaction has gone through with a printed receipt which many of our customers still value. Furthermore, this expanded partnership helps drive footfall into 4,000 of our branches providing postmasters with increased remuneration opportunities.”


The planned activation of Western Union’s UK Post office retail cross-border money transfers is scheduled for Autumn 2022.


*Depending on location & availability of service


WU-G


About Western Union


The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.


About the Post Office


With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.

Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.

Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.

Post Office is simplifying its proposition for Postmasters with a focus on its cash and banking; mails and parcels; foreign exchange; and bill payments services.

Research has found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.

99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220429005021/en/


Contacts

Media contacts:

International

Claire Treacy claire.treacy@westernunion.com


Europe/UK

Nicholas Mandalas nicholas.mandalas@westernunion.com


Western Union Investor Relations

Tom Hadley thomas.hadley@wu.com




Friday, April 29, 2022

Schlumberger Announces First-Quarter 2022 Results and Dividend Increase

 OSLO, Norway-Thursday 28 April 2022 [ AETOS Wire ]

  • Revenue of $6.0 billion increased 14% year-on-year

  • GAAP EPS of $0.36 increased 71% year-on-year

  • EPS, excluding charges and credits, of $0.34 increased 62% year-on-year

  • Cash flow from operations was $131 million, reflecting the seasonal increase in working capital

  • Board approved a 40% increase in cash dividend to $0.175 per share

(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today reported financial results for the first-quarter 2022.

First-Quarter Results

(Stated in millions, except per share amounts)

 

Three Months Ended

 

Change

 

Mar. 31, 2022

 

Dec. 31, 2021

 

Mar. 31, 2021

 

Sequential

 

Year-on-year

Revenue

$5,962

 

$6,225

 

$5,223

 

-4%

 

14%

Income before taxes - GAAP basis

$638

 

$755

 

$386

 

-16%

 

65%

Net income - GAAP basis

$510

 

$601

 

$299

 

-15%

 

70%

Diluted EPS - GAAP basis

$0.36

 

$0.42

 

$0.21

 

-14%

 

71%

       

 

 

 

Adjusted EBITDA*

$1,254

 

$1,381

 

$1,049

 

-9%

 

19%

Adjusted EBITDA margin*

21.0%

 

22.2%

 

20.1%

 

-115 bps

 

94 bps

Pretax segment operating income*

$894

 

$986

 

$664

 

-9%

 

35%

Pretax segment operating margin*

15.0%

 

15.8%

 

12.7%

 

-84 bps

 

229 bps

Net income, excluding charges & credits*

$488

 

$587

 

$299

 

-17%

 

63%

Diluted EPS, excluding charges & credits*

$0.34

 

$0.41

 

$0.21

 

-17%

 

62%

       

 

 

 

Revenue by Geography

      

 

 

 

International

$4,632

 

$4,898

 

$4,211

 

-5%

 

10%

North America

1,282

 

1,281

 

972

 

-

 

32%

Other

48

 

46

 

40

 

n/m

 

n/m

 

$5,962

 

$6,225

 

$5,223

 

-4%

 

14%

         

 

*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", and "Supplemental Information" for details.

n/m = not meaningful

 

(Stated in millions)

 

Three Months Ended

 

Change

 

Mar. 31, 2022

 

Dec. 31, 2021

 

Mar. 31, 2021

 

Sequential

 

Year-on-year

Revenue by Division

         

Digital & Integration

$857

 

$889

 

$772

 

-4%

 

11%

Reservoir Performance

1,210

 

1,287

 

1,002

 

-6%

 

21%

Well Construction

2,398

 

2,388

 

1,936

 

-

 

24%

Production Systems

1,604

 

1,765

 

1,590

 

-9%

 

1%

Other

(107)

 

(104)

 

(77)

 

n/m

 

n/m

 

$5,962

 

$6,225

 

$5,223

 

-4%

 

14%

       

 

 

 

Pretax Operating Income by Division

      

 

 

 

Digital & Integration

$292

 

$335

 

$247

 

-13%

 

18%

Reservoir Performance

160

 

200

 

102

 

-20%

 

56%

Well Construction

388

 

368

 

210

 

5%

 

85%

Production Systems

114

 

159

 

138

 

-28%

 

-18%

Other

(60)

 

(76)

 

(33)

 

n/m

 

n/m

 

$894

 

$986

 

$664

 

-9%

 

35%

       

 

 

 

Pretax Operating Margin by Division

      

 

 

 

Digital & Integration

34.0%

 

37.7%

 

32.0%

 

-372 bps

 

201 bps

Reservoir Performance

13.2%

 

15.5%

 

10.2%

 

-232 bps

 

299 bps

Well Construction

16.2%

 

15.4%

 

10.8%

 

77 bps

 

534 bps

Production Systems

7.1%

 

9.0%

 

8.7%

 

-192 bps

 

-159 bps

Other

n/m

 

n/m

 

n/m

 

n/m

 

n/m

 

15.0%

 

15.8%

 

12.7%

 

-84 bps

 

229 bps

         

 

n/m = not meaningful

         

Schlumberger CEO Olivier Le Peuch commented, “Our first-quarter results set us firmly on the path to deliver full-year revenue growth in the mid-teens and another year with a significant increase in earnings. Compared to the same quarter last year, revenue grew 14%; EPS—excluding charges and credits—increased 62%; and pretax segment operating margin expanded 229 basis points (bps), led by Well Construction and Reservoir Performance. These results reflect the strength of our core services Divisions, the broad-based activity increase, and the continued realization of our improved operating leverage.

“The quarter also marked the tragic start of the conflict in Ukraine, which is of grave concern. Accordingly, we established local and global crisis management teams to respond to the crisis and its effect on employees, business, and our operations. In addition to ensuring that our operations are compliant with developing sanctions, we took the step in the quarter to suspend new investment and technology deployment to our Russia operations. We urge the cessation of hostilities and are hopeful that peace will return to Ukraine and the entire region.