UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-06605 | EQUIFAX INC. | | | | | | --- | --- | --- | --- | --- | | (Exact name of registrant as specified in its charter) | | | ...

Have you assessed how the international operations of Equifax (EFX) performed in the quarter ended March 2024? For this credit reporting company, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for i ...

Consumer credit bureau Equifax said artificial intelligence (AI) is playing an increasing role in its operations. In announcing the company’s quarterly earnings Thursday (April 18), management noted that 70% of the new models and scores Equifax built last year were made using artificial intelligence (AI) and machine learning (ML), with the goal of bringing that number to 80% this year.“In the first quarter, we exceeded this goal with 85% of our new models and scores being built with Equifax AI Machine Learn ...

Financial Data and Key Metrics Changes - The company reported Q1 2024 revenue of $1.389 billion, a 7% increase, with adjusted EBITDA margins at 29.1% and adjusted EPS at $1.50, exceeding guidance [71][73] - Total U.S. mortgage revenue increased by 6%, with a notable 38% rise in mortgage revenue from USIS, despite a 19% decline in credit inquiries [73][75] - EWS non-mortgage revenue grew by 7%, while overall EWS revenue was up 1%, with adjusted EBITDA margins at 51.1% [74][75] Business Line Data and Key Metrics Changes - EWS Verifier non-mortgage revenue rose by 15%, driven by a 35% increase in government revenue, while employer revenue declined by 10% due to ERC revenue drops [74][75] - USIS revenue increased by 10%, marking the highest quarterly growth in three years, with mortgage revenue significantly outperforming expectations [75][112] - International revenue grew by 20% in constant currency, with strong performance in Europe and Latin America, while Asia-Pacific faced a 10% decline [115][116] Market Data and Key Metrics Changes - Mortgage credit inquiries were down 19%, with TWN mortgage inquiry volumes down 22%, indicating challenges in homebuyer transactions [123] - The company expects mortgage inquiries to decline by about 13% in Q2 2024 and 11% for the full year, which is better than previous guidance [124] - The government vertical showed strong growth, with a three-year CAGR of over 50%, supported by new contracts and record growth [108][109] Company Strategy and Development Direction - The company is focusing on AI innovation and cloud completion, with 85% of new models built using AI and machine learning in Q1 2024 [76][120] - The strategic priority includes enhancing operational efficiency through cloud capabilities and expanding differentiated data sets to drive innovation [118][121] - The company aims to achieve 90% of its revenue in the cloud by year-end, which is expected to facilitate growth and new product development [92][121] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. consumer remains resilient, despite challenges in the mortgage market, with expectations for a gradual recovery in mortgage revenue [77][104] - The outlook for 2024 includes expectations for strong non-mortgage revenue growth of over 10%, with mortgage outperformance projected at about 11% [103][105] - Management highlighted the importance of employment stability for consumer credit health, with low delinquency rates for prime consumers [104] Other Important Information - The company added four million current records in Q1, growing the TWN database by 10% year-over-year, with a total of 172 million current records [111] - The government vertical is now the largest in Verification Services, benefiting from new contracts and continued expansion [105][109] - The company is experiencing a backlog in WOTC submissions due to state processing delays, which is expected to resolve as processing accelerates [101] Q&A Session Summary Question: What is the outlook for the mortgage market? - Management indicated that the mortgage market is expected to stabilize, with a gradual return to pre-COVID levels as interest rates potentially decrease [41][63] Question: How is the company addressing price sensitivity among customers? - Management acknowledged that while customers are sensitive to price increases, they recognize the value of the company's unique data [62] Question: Can you provide insights on the government vertical's growth? - The government vertical has shown exceptional growth, with significant contracts contributing to revenue and a strong pipeline for future growth [109][110]

Earnings season has officially begun, and there's plenty of corporate reports to unpack. Today, Las Vegas Sands Corp (NYSE:LVS) and Equifax Inc (NYSE:EFX) announced their results, and both stocks turned sharply lower in response. Las Vegas Sands reported better-than-expected first-quarter earnings and revenue, but seven analysts still lowered their price targets. The casino's Macau business is undergoing renovations, and investors were not impressed with the numbers. At last glance, LVS was down 9% at $45.7 ...

Equifax Inc. (EFX) reported mixed first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.EFX’s adjusted earnings (excluding 50 cents from non-recurring items) were $1.5 per share, beating the Zacks Consensus Estimate by 4.2% and increasing 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.Segmental InformationRevenues in the Workforce Solutions ...

The company is tempering expectations for the quarters to come.Credit rating service Equifax (EFX -4.88%) is feeling the brunt of "higher for longer," warning that if rates remain high its results are likely to suffer. Investors are cashing out, sending shares down 10% as of 11 a.m. ET.Credit demand is under pressureEquifax is a financial data analytics company best known as one of the primary providers of consumer credit scores. Yesterday, it reported its financial results for the first quarter of 2024. Th ...

Non-GAAP Disclosure Statement Accelerate Innovation and New Products Housing ✓ TWN records up 10%, 172M active… 670M total Strong 20% INTL growth led by Europe and Brazil ~85% of new models and scores built in 1Q using AI / ML Note: This slide contains forward-looking information, including 2Q24 guidance. Actual results may differ materially from our historical experience and our present expectations or projections. We undertake no obligation to publicly update or revise any forward-looking statements, whet ...

For the quarter ended March 2024, Equifax (EFX) reported revenue of $1.39 billion, up 6.7% over the same period last year. EPS came in at $1.50, compared to $1.43 in the year-ago quarter.The reported revenue represents a surprise of -0.95% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $1.44, the EPS surprise was +4.17%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations ...

Exhibit 99.1 ATLANTA, April 17, 2024 -- Equifax (NYSE: EFX) today announced financial results for the quarter ended March 31, 2024. ® "Equifax performed well in the first quarter against our EFX2026 strategic priorities in a very challenging mortgage market delivering revenue of $1.389 billion, up a strong 7%. Our U.S. mortgage business grew a strong 6% despite a 19% decline in USIS mortgage credit inquiries. Our non-mortgage business, which was about 80% of Equifax revenue in the first quarter, delivered v ...