Financial Performance - Operating revenue for the nine months ended September 30, 2024, was $4,261.7 million, an increase from $3,938.7 million in the same period of 2023, representing a growth of approximately 8.2%[7] - Operating income increased to $754.0 million for the nine months ended September 30, 2024, compared to $688.5 million in 2023, reflecting a growth of about 9.5%[7] - Net income attributable to Equifax for the nine months ended September 30, 2024, was $430.1 million, up from $412.9 million in 2023, indicating an increase of approximately 4.2%[7] - Basic earnings per share for the nine months ended September 30, 2024, was $3.48, compared to $3.36 in 2023, marking a rise of about 3.6%[7] - Consolidated net income for the nine months ended September 30, 2024, increased to $433.9 million, up from $417.2 million in 2023, representing a growth of approximately 5.0%[11] - Cash provided by operating activities reached $999.7 million, compared to $794.7 million in the same period of 2023, reflecting a significant increase of about 25.8%[11] - Total operating revenue for Q3 2024 reached $1,441.8 million, a 9.2% increase from $1,319.1 million in Q3 2023[80] Assets and Liabilities - Total current assets as of September 30, 2024, were $1,653.1 million, an increase from $1,356.3 million at the end of 2023, representing a growth of approximately 21.9%[10] - Total liabilities decreased to $7,297.7 million as of September 30, 2024, from $7,592.5 million at the end of 2023, a reduction of about 3.9%[10] - Cash and cash equivalents increased significantly to $468.2 million as of September 30, 2024, compared to $216.8 million at the end of 2023, reflecting a growth of approximately 116.5%[10] - Total debt outstanding as of September 30, 2024, was $5,500.5 million, a decrease from $5,741.6 million as of December 31, 2023[54] - The fair value of long-term debt as of September 30, 2024, was $5.4 billion, slightly up from $5.3 billion as of December 31, 2023[25] Shareholder Equity - Total shareholders' equity increased to $4,926.1 million as of September 30, 2024, from $4,552.4 million at the end of 2023, indicating a growth of approximately 8.2%[10] - Total shareholders' equity as of September 30, 2024, was $4,926.1 million, an increase from $4,712.8 million at the end of June 2024, indicating a growth of approximately 4.5%[12] - As of September 30, 2023, total shareholders' equity increased to $4,309.1 million from $3,973.3 million as of December 31, 2022, reflecting a growth of approximately 8.4%[16] Cash Flow and Dividends - Cash dividends paid to Equifax shareholders totaled $144.8 million for the nine months ended September 30, 2024, slightly up from $143.7 million in 2023[11] - The company reported cash dividends of $144.4 million, with a dividend payout of $1.17 per share[16] - The company experienced a net increase in cash and cash equivalents of $251.4 million, compared to an increase of $127.4 million in the same period of 2023, representing a growth of approximately 97.1%[11] Capital Expenditures and Investments - The company reported capital expenditures of $392.6 million for the nine months ended September 30, 2024, down from $455.6 million in the previous year, showing a decrease of about 13.8%[11] - The company completed the acquisition of Boa Vista Serviços, resulting in an increase in paid-in capital by $75.3 million[16] - The company acquired the remaining interest in BVS for approximately $510 million in cash and shares on August 7, 2023[46] Revenue Segmentation - Verification Services revenue increased by 14% to $524.9 million for the three months ended September 30, 2024, compared to $459.3 million in the prior year[44] - Employer Services revenue decreased by 19% to $95.1 million for the three months ended September 30, 2024, down from $117.9 million in the same period of 2023[44] - Total U.S. Information Solutions revenue increased by 12% to $476.9 million for the three months ended September 30, 2024, compared to $426.0 million in the same period of 2023[44] - The International segment reported operating revenue of $344.9 million in Q3 2024, an increase from $315.9 million in Q3 2023[80] Operational and Strategic Initiatives - The company continues to focus on enhancing its information technology and data security infrastructure as part of its cloud data and technology transformation strategy[4] - Restructuring charges in Q3 2024 amounted to $41.6 million, with $29.5 million net of tax, related to resource realignment and technology transformation efforts[73] Tax and Regulatory Matters - The effective income tax rate for Q3 2024 was 26.4%, up from 13.9% in Q3 2023, primarily due to a write-off of a deferred tax liability related to the acquisition of BVS[71] - The Consumer Financial Protection Bureau is investigating the company's consumer disputes process, with potential civil penalties being discussed[60] Other Comprehensive Income - The company reported an accumulated other comprehensive loss of $(465.1) million as of September 30, 2024, compared to $(544.3) million at the end of June 2024, reflecting an improvement of about 14.5%[12] - Accumulated other comprehensive loss increased to $(465.1) million as of September 30, 2024, from $(431.2) million at the end of 2023[72]

Core Viewpoint - Equifax's international revenue performance is crucial for understanding its financial resilience and growth prospects in a globally interconnected economy [1][2]. Group 1: Financial Performance - Equifax reported total revenue of $1.44 billion for the quarter, reflecting a 9.3% increase year-over-year [2]. - The company is projected to achieve total revenue of $1.45 billion in the current fiscal quarter, indicating a 9.4% increase from the same quarter last year [5]. - For the full year, Equifax is expected to reach total revenue of $5.73 billion, representing an 8.8% rise from the previous year [5]. Group 2: International Revenue Breakdown - Latin America generated $96.7 million in revenue, accounting for 6.7% of total revenue, but fell short of the $101.69 million expected by analysts, marking a -4.91% surprise [3]. - Asia Pacific contributed $88.5 million, or 6.1% of total revenue, exceeding expectations by +1.65% compared to the forecast of $87.06 million [3]. - Canada accounted for $64.8 million in revenue, representing 4.5% of total revenue, which was a -5.5% surprise against the expected $68.57 million [4]. - Europe contributed $94.9 million, making up 6.6% of total revenue, slightly surpassing the consensus estimate of $93.78 million with a +1.19% surprise [4]. Group 3: Future Revenue Expectations - For the upcoming fiscal quarter, revenue contributions are anticipated to be 7.5% from Latin America ($108.89 million), 5.9% from Asia Pacific ($86.16 million), 4.7% from Canada ($68.85 million), and 7% from Europe ($101.11 million) [5]. - The projected revenue shares for the full year include Latin America at 7% ($398.97 million), Asia Pacific at 5.9% ($336.03 million), Canada at 4.8% ($272.42 million), and Europe at 6.5% ($369.29 million) [5]. Group 4: Market Context - The company's reliance on international markets presents both opportunities and challenges, necessitating close monitoring of international revenue trends to project future directions [5][6]. - Equifax's stock has seen a decline of 5.7% over the past month, contrasting with a 4.5% increase in the S&P 500 composite [7].

Equifax Inc. (NYSE:EFX) Q3 2024 Earnings Conference Call October 17, 2024 8:30 AM ET Company Participants Trevor Burns - Senior Vice President, Head of Corporate Investor Relations Mark Begor - Chief Executive Officer John Gamble - Chief Financial Officer Conference Call Participants Manav Patnaik - Barclays Kelsey Zhu - Autonomous Research Andrew Nicholas - William Blair Surinder Thind - Jefferies Kyle Peterson - Needham & Company Scott Wurtzel - Wolfe Research Kevin McVeigh - UBS Jason Haas - Wells Fargo ...

Core Viewpoint - Equifax Inc. reported mixed third-quarter 2024 results, with earnings exceeding estimates while revenues fell short [1][2]. Financial Performance - Adjusted earnings were $1.8 per share, surpassing the Zacks Consensus Estimate and increasing by 5.1% year-over-year [2]. - Total revenues reached $1.4 billion, missing consensus estimates but growing by 9.3% compared to the previous year [2]. Segment Performance - Workforce Solutions segment revenues totaled $620 million, a 7% increase year-over-year, exceeding expectations [3]. - USIS segment revenues were $476.9 million, growing 12% year-over-year and also surpassing forecasts [3]. - International division revenues amounted to $344.9 million, up 9% year-over-year but missing expectations [3]. Regional Performance - Latin America's revenues increased by 21% year-over-year, while Europe and Asia Pacific saw increases of 11% [4]. - Canada's revenues remained flat compared to the previous year [4]. Operating Results - Adjusted EBITDA for Q3 2024 was $471.9 million, an 8% increase year-over-year, with an adjusted EBITDA margin of 32.7% [5]. - The adjusted EBITDA margin for Workforce Solutions was 51.6%, while USIS and international segments reported margins of 33.9% and 27.7%, respectively [5]. Balance Sheet & Cash Flow - Cash and cash equivalents at the end of Q3 were $468.2 million, significantly up from $181.9 million at the end of Q2 [6]. - Long-term debt remained stable at $4.7 billion, with cash generated from operating activities amounting to $479.5 million [6]. Guidance - For Q4 2024, revenue guidance was raised to $1.44-$1.46 billion, with adjusted EPS guidance increased to $2.08-$2.18 [6]. - For the full year 2024, revenue guidance was updated to $5.70-$5.72 billion, and adjusted EPS guidance was revised to $7.25-$7.35 [7].

Equifax (EFX) reported $1.44 billion in revenue for the quarter ended September 2024, representing a yearover-year increase of 9.3%. EPS of $1.85 for the same period compares to $1.76 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of -0.14%. The company delivered an EPS surprise of +0.54%, with the consensus EPS estimate being $1.84. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Equifax (EFX) came out with quarterly earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $1.76 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 0.54%. A quarter ago, it was expected that this credit reporting company would post earnings of $1.72 per share when it actually produced earnings of $1.82, delivering a surprise of 5.81%. Over the last four quarters, the c ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) Equifax reported strong Q3 2024 revenue growth, driven by non-mortgage local currency revenue and strategic Cloud and AI/ML initiatives [Third Quarter 2024 Highlights](index=1&type=section&id=Third%20Quarter%202024%20Highlights) Equifax reported Q3 2024 revenue growth of 9% to $1.442 billion, driven by non-mortgage local currency revenue and strong Verification Services performance | Metric | Q3 2024 | Growth (YoY) | | :----- | :------ | :----------- | | Total Revenue | $1.442 billion | 9% | | Non-Mortgage Local Currency Revenue Growth | - | 10% | | Workforce Solutions Non-Mortgage Revenue Growth | - | 9% | | Verification Services Non-Mortgage Revenue Growth | - | 19% | | USIS Mortgage Revenue Growth | - | 36% | | Overall U.S. Mortgage Revenue Growth | - | 17% | | International Local Currency Revenue Growth | - | 18% | | New Product Vitality Index | - | 13% | | New Models/Scores built with AI/ML | - | 100% | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Mark W. Begor highlighted strong Q3 performance, emphasizing non-mortgage revenue growth, Cloud migrations, and AI/ML-driven product innovation - Equifax's non-mortgage business, comprising **80% of Q3 revenue**, achieved **10% local currency revenue growth**, supported by a **13% New Product Vitality Index** and **100% of new models built using AI and ML**[3](index=3&type=chunk) - The company is confident in its long-term **8-12% revenue growth framework**, anticipating **higher margins** and **accelerating free cash flow**, driven by Cloud migrations, new product roll-outs, and investments in AI/ML capabilities[4](index=4&type=chunk) [Consolidated Financial Results](index=1&type=section&id=Consolidated%20Financial%20Results) This section details Equifax's Q3 2024 consolidated financial performance, covering revenue, net income, balance sheet, and cash flow [Overall Company Performance](index=1&type=section&id=Overall%20Company%20Performance) Equifax reported Q3 2024 revenue of $1,441.8 million, a 9% increase, but net income attributable to Equifax decreased by 13% to $141.3 million | Metric | Q3 2024 | Q3 2023 | Change (%) | | :----- | :------ | :------ | :--------- | | Revenue | $1,441.8 million | $1,319.1 million | 9% | | Local Currency Revenue Growth | - | - | 11% | | Net Income Attributable to Equifax | $141.3 million | $162.2 million | (13)% | | Diluted EPS Attributable to Equifax | $1.13 | $1.31 | (14)% | [Consolidated Statements of Income (GAAP)](index=7&type=section&id=Consolidated%20Statements%20of%20Income%20%28GAAP%29) Q3 2024 operating revenue increased to $1,441.8 million, but higher expenses and income tax provision led to a decrease in consolidated net income | Metric | Q3 2024 (Millions) | Q3 2023 (Millions) | | :----- | :----------------- | :----------------- | | Operating Revenue | $1,441.8 | $1,319.1 | | Total Operating Expenses | $1,194.7 | $1,072.7 | | Operating Income | $247.1 | $246.4 | | Interest Expense | $(56.3) | $(62.8) | | Provision for Income Taxes | $(51.1) | $(26.4) | | Consolidated Net Income | $142.7 | $164.3 | | Net Income Attributable to Equifax | $141.3 | $162.2 | | Diluted EPS | $1.13 | $1.31 | | Dividends per Common Share | $0.39 | $0.39 | [Consolidated Balance Sheets (GAAP)](index=8&type=section&id=Consolidated%20Balance%20Sheets%20%28GAAP%29) As of September 30, 2024, total assets increased due to higher cash and capitalized software, while total liabilities decreased, boosting shareholders' equity | Metric | Sep 30, 2024 (Millions) | Dec 31, 2023 (Millions) | | :----- | :---------------------- | :---------------------- | | Total Assets | $12,344.3 | $12,280.0 | | Cash and Cash Equivalents | $468.2 | $216.8 | | Capitalized Internal-Use Software and System Costs | $2,789.7 | $2,541.0 | | Total Liabilities | $7,297.7 | $7,592.5 | | Total Equifax Shareholders' Equity | $4,909.0 | $4,534.1 | [Consolidated Statements of Cash Flows (GAAP)](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20%28GAAP%29) Net cash from operating activities significantly increased for the nine months ended September 30, 2024, while investing activities used less cash | Metric | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | | :----- | :---------------------------------------- | :---------------------------------------- | | Cash Provided by Operating Activities | $999.7 | $794.7 | | Cash Used in Investing Activities | $(392.6) | $(724.7) | | Cash (Used in) Provided by Financing Activities | $(345.0) | $63.5 | | Increase in Cash and Cash Equivalents | $251.4 | $127.4 | | Cash and Cash Equivalents, End of Period | $468.2 | $412.6 | [Segment Performance](index=3&type=section&id=Segment%20Performance) This section analyzes the individual financial performance of Equifax's Workforce Solutions, USIS, and International segments for Q3 2024 [Workforce Solutions](index=3&type=section&id=Workforce%20Solutions) Workforce Solutions reported a 7% revenue increase to $620.0 million, driven by Verification Services, with improved operating and Adjusted EBITDA margins | Metric | Q3 2024 (Millions) | Q3 2023 (Millions) | Change (%) | | :----- | :----------------- | :----------------- | :--------- | | Total Revenue | $620.0 | $577.2 | 7% | | Verification Services Revenue | $524.9 | $459.3 | 14% | | Employer Services Revenue | $95.1 | $117.9 | (19)% | | Operating Margin | 43.2% | 41.8% | +1.4 pp | | Adjusted EBITDA Margin | 51.6% | 50.9% | +0.7 pp | [USIS (U.S. Information Solutions)](index=3&type=section&id=USIS%20%28U.S.%20Information%20Solutions%29) USIS achieved 12% revenue growth to $476.9 million, boosted by Mortgage Solutions and Financial Marketing Services, despite slight margin decreases | Metric | Q3 2024 (Millions) | Q3 2023 (Millions) | Change (%) | | :----- | :----------------- | :----------------- | :--------- | | Total Revenue | $476.9 | $426.0 | 12% | | Online Information Solutions Revenue | $381.1 | $348.2 | 9% | | Mortgage Solutions Revenue | $38.0 | $27.3 | 39% | | Financial Marketing Services Revenue | $57.8 | $50.5 | 14% | | Operating Margin | 20.6% | 21.1% | (0.5) pp | | Adjusted EBITDA Margin | 33.9% | 34.2% | (0.3) pp | [International](index=3&type=section&id=International) International segment revenue grew 9% reported (18% local currency) to $344.9 million, with strong growth in Latin America and improved operating margins | Metric | Q3 2024 (Millions) | Q3 2023 (Millions) | Reported Change (%) | Local Currency Change (%) | | :----- | :----------------- | :----------------- | :------------------ | :------------------------ | | Total Revenue | $344.9 | $315.9 | 9% | 18% | | Latin America Revenue | $96.7 | $80.1 | 21% | 58% | | Europe Revenue | $94.9 | $85.2 | 11% | 9% | | Asia Pacific Revenue | $88.5 | $85.5 | 4% | 2% | | Canada Revenue | $64.8 | $65.1 | 0% | 1% | | Operating Margin | 13.9% | 12.7% | +1.2 pp | - | | Adjusted EBITDA Margin | 27.7% | 26.2% | +1.5 pp | - | [Financial Guidance](index=4&type=section&id=Financial%20Guidance) This section provides Equifax's financial outlook for Q4 and full year 2024, including revenue, EPS, and U.S. mortgage market credit inquiry volume projections [Fourth Quarter and Full Year 2024 Outlook](index=4&type=section&id=Fourth%20Quarter%20and%20Full%20Year%202024%20Outlook) Equifax projects Q4 2024 reported revenue between $1.438 billion and $1.458 billion, with full year reported revenue guided to $5.700 billion to $5.720 billion | Metric | Q4 2024 Low-End | Q4 2024 High-End | FY 2024 Low-End | FY 2024 High-End | | :----- | :-------------- | :--------------- | :-------------- | :--------------- | | Reported Revenue | $1.438 billion | $1.458 billion | $5.700 billion | $5.720 billion | | Reported Revenue Growth | 8.4% | 9.9% | 8.3% | 8.6% | | Local Currency Growth | 9.5% | 11.0% | 10.1% | 10.4% | | Organic Local Currency Growth | 9.5% | 11.0% | 8.1% | 8.4% | | Adjusted Earnings Per Share | $2.08 per share | $2.18 per share | $7.25 per share | $7.35 per share | [U.S. Mortgage Market Credit Inquiry Volume](index=10&type=section&id=U.S.%20Mortgage%20Market%20Credit%20Inquiry%20Volume) Equifax anticipates a 9% increase in U.S. mortgage market credit inquiries for Q4 2024, but projects an overall 7% decline for the full year - U.S. mortgage market credit inquiry volume increased by **1% in Q3 2024**[27](index=27&type=chunk) - Guidance for Q4 2024 assumes a **9% increase** in U.S. mortgage market credit inquiries year-over-year[27](index=27&type=chunk) - Full year 2024 guidance assumes a decline of about **7%** in U.S. mortgage market credit inquiries[27](index=27&type=chunk) [Company Information](index=4&type=section&id=Company%20Information) This section provides an overview of Equifax as a global data, analytics, and technology company, and details for its Q3 2024 earnings conference call [About Equifax](index=4&type=section&id=About%20Equifax) Equifax is a global data, analytics, and technology company providing critical decision-making insights across 24 countries, leveraging differentiated data and AI - Equifax is a global data, analytics, and technology company that helps various entities make critical decisions with confidence[12](index=12&type=chunk) - The company operates in **24 countries** and employs nearly **15,000 people worldwide**, leveraging differentiated data, analytics, and cloud technology[12](index=12&type=chunk) [Earnings Conference Call and Audio Webcast](index=4&type=section&id=Earnings%20Conference%20Call%20and%20Audio%20Webcast) Equifax will host a conference call and live audio webcast on October 17, 2024, at 8:30 a.m. (ET) to discuss Q3 2024 earnings - Equifax will host a conference call and live audio webcast on **October 17, 2024, at 8:30 a.m. (ET)** for Q3 2024 earnings[13](index=13&type=chunk) - Webcast and related presentation materials are accessible via the Investor Relations section of www.equifax.com, with a replay available shortly after[13](index=13&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section defines and reconciles Equifax's non-GAAP financial measures, providing a clearer view of underlying performance by excluding certain items [Explanation of Non-GAAP Measures](index=4&type=section&id=Explanation%20of%20Non-GAAP%20Measures) This section defines non-GAAP measures like adjusted EPS and EBITDA, clarifying their exclusion of specific items for a more comparable performance view - Adjusted EPS excludes acquisition-related amortization, legal/regulatory accruals, fair market value adjustments, foreign currency impacts, acquisition costs, stock award tax effects, Argentina highly inflationary adjustments, realignment costs, and deferred tax adjustments[14](index=14&type=chunk) - Adjusted EBITDA excludes net interest expense, income taxes, depreciation and amortization, and certain one-time items[14](index=14&type=chunk) - Local currency revenue change and organic local currency revenue growth are used to assess performance by conforming results using prior year exchange rates and adjusting for acquired companies' revenue[14](index=14&type=chunk) [Adjusted EPS and Adjusted EBITDA Margin Summary](index=3&type=section&id=Adjusted%20EPS%20and%20Adjusted%20EBITDA%20Margin%20Summary) Equifax reported an Adjusted EPS of $1.85 in Q3 2024, a 5% increase, while Adjusted EBITDA margin slightly decreased to 32.7% | Metric | Q3 2024 | Q3 2023 | Change (%) | | :----- | :------ | :------ | :--------- | | Adjusted EPS Attributable to Equifax | $1.85 | $1.76 | 5% | | Adjusted EBITDA Margin | 32.7% | 33.1% | (0.4) pp | [Reconciliation of Net Income to Adjusted EPS](index=11&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EPS) This section details the reconciliation from GAAP net income to adjusted diluted EPS, outlining key adjustments for acquisition-related and realignment costs | Adjustment Item | Q3 2024 (Millions) | Q3 2023 (Millions) | | :----- | :----------------- | :----------------- | | Net Income Attributable to Equifax | $141.3 | $162.2 | | Acquisition-related amortization expense | $64.6 | $64.4 | | Accrual for legal and regulatory matters (2017 cybersecurity incident) | $0.1 | $14.2 | | Acquisition-related costs other than acquisition amortization | $15.9 | $24.4 | | Realignment of resources and other costs | $41.6 | $(2.3) | | Tax impact of adjustments | $(29.0) | $(16.7) | | Net Income Attributable to Equifax, Adjusted | $231.8 | $217.9 | | Diluted EPS Attributable to Equifax, Adjusted | $1.85 | $1.76 | [Reconciliation of Net Income to Adjusted EBITDA](index=13&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA) This section reconciles GAAP net income to Adjusted EBITDA, adding back taxes, interest, depreciation, amortization, and other non-GAAP adjustments | Metric | Q3 2024 (Millions) | Q3 2023 (Millions) | Change (%) | | :----- | :----------------- | :----------------- | :--------- | | Net Income Attributable to Equifax | $141.3 | $162.2 | (13)% | | Income Taxes | $51.1 | $26.4 | 94% | | Interest Expense, Net | $52.4 | $56.6 | (7)% | | Depreciation and Amortization | $169.1 | $154.4 | 10% | | Accrual for legal and regulatory matters (2017 cybersecurity incident) | $0.1 | $14.2 | (99)% | | Acquisition-related amounts other than acquisition amortization | $15.9 | $24.4 | (35)% | | Realignment of resources and other costs | $41.6 | $(2.3) | nm | | Adjusted EBITDA | $471.9 | $436.1 | 8% | [Reconciliation of Operating Income by Segment to Adjusted EBITDA](index=14&type=section&id=Reconciliation%20of%20Operating%20Income%20by%20Segment%20to%20Adjusted%20EBITDA) This section reconciles operating income to Adjusted EBITDA for each segment, showing Workforce Solutions, USIS, and International contributions to total Adjusted EBITDA | Segment | Q3 2024 Adjusted EBITDA (Millions) | Q3 2024 Adjusted EBITDA Margin | Q3 2023 Adjusted EBITDA (Millions) | Q3 2023 Adjusted EBITDA Margin | | :----- | :--------------------------------- | :----------------------------- | :--------------------------------- | :----------------------------- | | Workforce Solutions | $319.9 | 51.6% | $293.7 | 50.9% | | U.S. Information Solutions | $161.6 | 33.9% | $145.8 | 34.2% | | International | $95.6 | 27.7% | $82.9 | 26.2% | | General Corporate Expense | $(105.2) | nm | $(86.3) | nm | | Total Adjusted EBITDA | $471.9 | 32.7% | $436.1 | 33.1% | [Notes to Non-GAAP Reconciliations](index=15&type=section&id=Notes%20to%20Non-GAAP%20Reconciliations) This section explains each adjustment in the non-GAAP reconciliations, clarifying why items like acquisition amortization and realignment costs are excluded for comparability - Acquisition-related amortization expense is excluded to allow investors to evaluate performance on a more comparable basis and reflect cash income tax savings[46](index=46&type=chunk) - Accruals for legal and regulatory matters related to the **2017 cybersecurity incident** are excluded as they are not comparable across periods and are non-recurring[47](index=47&type=chunk) - Realignment of resources and other costs, predominantly related to technology transformation, are excluded to provide meaningful supplemental information due to their non-comparable nature across periods[53](index=53&type=chunk) [Forward-Looking Statements and Risk Factors](index=4&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section outlines Equifax's forward-looking statements and the various risk factors that could cause actual results to differ materially from projections [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) Forward-looking statements are based on assumptions regarding economic conditions and strategic initiatives, but actual results may differ due to various internal and external factors - Forward-looking statements are based on factors and assumptions regarding foreign exchange rates, revenue growth, strategic initiatives, and economic conditions[16](index=16&type=chunk) - Actual results may differ due to factors such as restructuring actions, cloud technology transformation, and changes in the U.S. mortgage market and general economic conditions[17](index=17&type=chunk) [Risk Factors](index=6&type=section&id=Risk%20Factors) Equifax identifies numerous risks, including security breaches, operational disruptions, regulatory changes, and the impact of AI/ML model use, that could affect future results - Key risk factors include security breaches, failure to realize anticipated benefits of cloud technology transformation, operational disruptions, and the ability to meet customer requirements for system availability[18](index=18&type=chunk) - Other risks involve maintaining access to data, impact of competition, regulatory changes (e.g., CFPB, FCA), privacy laws, international sales risks, and risks associated with AI/ML model use[18](index=18&type=chunk) - Additional risks and uncertainties are detailed in the Annual Report on Form 10-K for the year ended December 31, 2023[19](index=19&type=chunk)

ATLANTA, Oct. 16, 2024 /PRNewswire/ -- Equifax® (NYSE: EFX) today announced financial results for the quarter ended September 30, 2024. 2024 Fourth Quarter and Full Year Guidance Q4 2024 FY 2024 Low-End High-End Low-End High-End Reported Revenue $1.438 billion $1.458 billion $5.700 billion $5.720 billion Third quarter 2024 revenue of $1.442 billion grew a strong 9%, with 10% non-mortgage local currency revenue growth. Workforce Solutions third quarter revenue grew 7%, with 9% non-mortgage revenue growth fro ...

Core Viewpoint - Equifax Inc. (EFX) is expected to report third-quarter 2024 earnings on October 16, with a positive Earnings ESP of +2.42% and a Zacks Rank 2 (Buy) [1] Financial Performance - The stock price of EFX has increased by 17.3% year-to-date, which is lower than the S&P 500's 22.8% gain [2] - The Zacks Consensus Estimate for Q3 2024 indicates revenues of $1.44 billion, reflecting a 9.5% year-over-year increase, and earnings per share (EPS) of $1.84, representing a 4.6% year-over-year growth [9] - EFX has shown positive earnings surprises in three out of the last four quarters, with an average beat of 3.2% [9] Revenue Segments - Analysts project that 'Revenue- U.S. Information Solutions' will reach $463.14 million, up 8.7% from the previous year [7] - 'Revenue- Workforce Solutions' is expected to be $625.10 million, an increase of 8.3% year-over-year [7] - 'Revenue- Total International' is anticipated to be $351.76 million, advancing 11.4% from the year-ago quarter [7] Growth Projections - EFX has experienced positive earnings estimate revisions for 2024 and 2025, with expected revenue growth of 8.9% and EPS growth of 9.7% for 2024 [10] - The long-term EPS growth rate for EFX is projected at 19.1%, significantly higher than the S&P 500's growth rate of 13.6% [11] Price Target and Market Sentiment - The average short-term price target for EFX suggests a potential increase of 10.7% from the last closing price of $290.13, with a maximum upside of 31% and a maximum downside of 6.5% [13]

Core Viewpoint - Equifax (EFX) is expected to report strong third-quarter 2024 results, with positive growth in revenues and earnings per share anticipated, driven by improved segment performance and strong pricing environment [1][3][5]. Revenue Expectations - The Zacks Consensus Estimate for Equifax's total revenue is $1.4 billion, reflecting a 9.5% increase from the same quarter last year [3]. - International revenues are projected to rise by 25.4% to $366.4 million, supported by growth in Europe and Latin America [4]. - U.S. Information Solutions (USIS) revenues are expected to reach $459.4 million, indicating a 7.8% year-over-year increase [5]. Earnings Expectations - The consensus estimate for earnings per share is $1.8, suggesting a 4.6% increase year-over-year [3]. - Adjusted EBITDA for USIS and International segments is anticipated to grow by 7.2% and 24.2%, reaching $156.3 million and $102.9 million, respectively [6]. Segment Performance - Revenues from Workforce Solutions are likely to grow by 7.1% year-over-year, estimated at $618.1 million [5]. - Adjusted EBITDA for Workforce Solutions is expected to be $318.3 million, up 8.4% from the previous year, driven by strong non-mortgage verifier revenue growth [6]. Earnings Prediction - The model predicts an earnings beat for Equifax, supported by a positive Earnings ESP of +1.56% and a Zacks Rank of 2 (Buy) [7].