Intermex slides after suspending review of strategic alternatives

International Money Express

26/02/2025 13:43

** Shares of money transfer services provider International Money Express IMXI.O, better known as Intermex, down 11% at $16.32 premarket

** IMXI says it has decided to suspend its previously announced assessment of strategic alternatives

** Says review did not "result in a definitive offer at a price that offered a superior alternative to the long-term stockholder value potentially created by Intermex's current business model"

** IMXI investors were hopeful review could result in buyout deal similar to one that rival money transfer co MoneyGram received in 2022, analysts had said

** IMXI's Q4 revenue fell 4.1% to $164.8 million, hit by slowdown of overall remittance market growth in Latin America

** Q4 adjusted EPS of 57 cents missed analysts' average estimate of 60 cents - data compiled by LSEG

** IMXI's FY 2025 revenue and adjusted EPS forecasts also fell short of Wall Street expectations

** IMXI stock down 12% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))