MoneyGram Q2 Loss Widens

(RTTNews) - MoneyGram International Inc. (MGI) reported that its net loss for its second quarter ended June 30, 2021 widened to $11.1 million or $0.13 per share from $4.6 million or $0.06 per share last year, due to an one-time $10.3 million debt extinguishment expense related to the company's prepayment of $100.0 million of second lien debt.

Adjusted earnings per share was $0.01 same with last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $329.3 million, an increase of 18% on a reported basis or increase of 13% on a constant currency basis. Analysts expected revenue of $321 million for the quarter. Total cross-border money transfer volume increased 41%.

The company anticipates total revenue to be in the range of $323 million to $333 million for the third-quarter. Analysts expect revenue of $333.25 million for the third quarter.