Equifax(EFX) - 2024 Q2 - Quarterly Report

Revenue Growth - Total operating revenue for the three months ended June 30, 2024, was $1,430.5 million, an increase from$ 1,317.6 million in the same period of 2023, representing a growth of 8.5%[196] - The Workforce Solutions segment generated $612.9 million in revenue for the three months ended June 30, 2024, compared to$ 582.8 million in the same period of 2023, reflecting a year-over-year increase of 5.8%[196] - The U.S. Information Solutions segment reported revenue of $478.3 million for the three months ended June 30, 2024, up from$ 445.0 million in the same period of 2023, marking a growth of 7.5%[196] - The International segment achieved revenue of $339.3 million for the three months ended June 30, 2024, compared to$ 289.8 million in the same period of 2023, indicating a significant increase of 17.1%[196] - Consolidated operating revenue for Q2 2024 was $1,430.5 million, a 9% increase from$ 1,317.6 million in Q2 2023[206] - U.S. Information Solutions revenue increased by 7% to $478.3 million in Q2 2024, compared to$ 445.0 million in Q2 2023[206] - International revenue rose by 17% to $339.3 million in Q2 2024, up from$ 289.8 million in Q2 2023[206] - International revenue growth was driven by Latin America, with a 28% increase in local currency for Q2 2024[218] Financial Performance - The company’s total operating income for the three months ended June 30, 2024, was $282.2 million, up from$ 236.9 million in the same period of 2023, representing a growth of 19.2%[196] - Consolidated net income for Q2 2024 was $165.2 million, a 19% increase from$ 139.4 million in Q2 2023[212] - Diluted earnings per share increased to $1.31 in Q2 2024, up 17% from$ 1.12 in Q2 2023[212] - Total operating margin improved to 44.5% in Q2 2024, compared to 42.0% in Q2 2023[215] Expenses and Debt - Consolidated operating expenses for Q2 2024 were $1,148.3 million, a 6% increase from$ 1,080.7 million in Q2 2023[207] - The total long-term debt, net, as of June 30, 2024, was $4,742.7 million, a slight decrease from$ 4,747.8 million as of December 31, 2023[180] - Interest expense decreased by $3.4 million in Q2 2024 due to lower debt balances compared to Q2 2023[210] Dividends and Tax - The company paid out$ 96.4 million in dividends, equating to $0.78 per share, during the first six months of 2024[205] - Effective income tax rate for Q2 2024 was 26.4%, down from 27.4% in Q2 2023[211] Future Outlook - The company anticipates continued growth driven by its cloud data and technology transformation initiatives, although specific financial projections were not disclosed[1] - The company operates in 20 countries, with the U.S. market contributing 77% of total revenue in 2023[200] - The company has established a$ 1.5 billion commercial paper program, with no outstanding commercial paper notes as of June 30, 2024[181]