Rudy Ploder to Retire After 20 Years of Distinguished LeadershipATLANTA, May 6, 2024 /PRNewswire/ -- Equifax® (NYSE: EFX) today announced the appointment of Chad Borton as Executive Vice President and President of Workforce Solutions. Borton, who most recently served as President of SoFi Bank and Executive Vice President of SoFi Lending, succeeds Rudy Ploder, who is retiring from Equifax following 20 years of distinguished leadership. Chad Borton "Rudy leaves Workforce Solutions as our largest and faste ...

ATLANTA, May 2, 2024 /PRNewswire/ -- Equifax® (NYSE: EFX) today announced that Barbara Larson, former Chief Financial Officer for Workday, has been elected to its board of directors. Barbara Larson "I'm energized to welcome Barbara as a new independent director on our board," said Mark W. Begor, CEO of Equifax. "Her more than two decades of financial leadership and extensive experience in both human capital management and enterprise technology will be a tremendous asset to Equifax as we execute against ...

ATLANTA, April 29, 2024 /PRNewswire/ -- Equifax® (NYSE: EFX) will participate in several upcoming investor conferences in May. Mark. W. Begor, Chief Executive Officer, and John Gamble, Chief Financial Officer, will attend the Barclays Americas Select Franchise Conference on Tuesday, May 7, 2024, including participation in a Fireside Chat at 5:45 A.M. Eastern Time; the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 2024, including participation in a Fireside Chat at 11:00 A.M. Eas ...

Investors interested in stocks from the Financial Transaction Services sector have probably already heard of PagSeguro Digital Ltd. (PAGS) and Equifax (EFX) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that ta ...

New Solution Helps Employers Keep Up with Changing Regulations and Better Streamline the Employee Forms Experience  ATLANTA, April 24, 2024 /PRNewswire/ -- Equifax® (NYSE: EFX) Workforce Solutions continues to help businesses transform the employee experience with the launch of Forms HQ, a new offering designed to help automate the delivery, completion, and tracking of essential employee forms, including those related to onboarding, tax withholding, state requirements, annual notices, offboarding and more. ...

TORONTO, April 23, 2024 (GLOBE NEWSWIRE) -- Equifax® Canada, a global data, analytics, and technology company, is committed to helping people live their financial best and to take steps to further financial inclusion for people in Canada with the continued support of rent reporting in credit scores. As the largest consumer credit bureau in Canada, Equifax strives to empower economically healthy individuals and financially inclusive communities worldwide. The inclusion of rental payments in credit scores is ...

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) Georgia 58-0401110 (State or other jurisdiction of (I ...

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]