Intermex is a retail remittance specialist whose pending sale no longer follows a straightforward approval path. New York cleared the Western Union acquisition, but California suspended its earlier approval extension. The contracted $16 cash consideration remains conditional rather than an assured exit, while the underlying earnings base continues to contract.
Second-quarter revenue fell 18.6%, reflecting fewer transfers and weaker revenue generation relative to transaction volume. Adjusted earnings before interest, taxes, depreciation and amortization fell 39.9%. That larger decline shows how fixed infrastructure costs amplify retail weakness, even as digital processing partnerships expand and management reduces spending elsewhere.
Revenue reached $131.2 million in the June quarter. Net income was $4.2 million, leaving a profitable but diminished standalone operation. Can California clearance arrive before further erosion in agent productivity and earnings increases the economic distance between the agreed purchase price and the business remaining outside a merger?