Western Union Updates 2016 EPS Outlook - Quick Facts

(RTTNews) - The Western Union Company (WU) announced its outlook for GAAP earnings per share has been narrowed to a range of $1.60 to $1.70 (previously $1.58 to $1.70), which primarily reflects the impact of the lower effective tax rate and the legal matter accrual. The company's current outlook for the full year effective tax rate is approximately 12%, compared to a mid-teens rate in the prior outlook.

The company affirmed its full year 2016 outlooks for constant currency revenue growth, operating profit margin, and operating cash flow. The GAAP revenue outlook was decreased slightly to reflect changes in several key foreign currencies against the U.S. dollar. The impact on operating profit from the currency changes is largely expected to be offset by incremental hedge benefits, with hedge gains now projected at approximately $45 million compared to approximately $40 million in the prior outlook.