Equifax(EFX)2024-10-21 20:39Financial Performance - Operating revenue for the nine months ended September 30, 2024, was 3,938.7 million in the same period of 2023, representing a growth of approximately 8.2%[7] - Operating income increased 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 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 3.36 in 2023, marking a rise of about 3.6%[7] - Consolidated net income for the nine months ended September 30, 2024, increased to 417.2 million in 2023, representing a growth of approximately 5.0%[11] - Cash provided by operating activities reached 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 1,319.1 million in Q3 2023[80] Assets and Liabilities - Total current assets as of September 30, 2024, were 1,356.3 million at the end of 2023, representing a growth of approximately 21.9%[10] - Total liabilities decreased to 7,592.5 million at the end of 2023, a reduction of about 3.9%[10] - Cash and cash equivalents increased significantly 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 5,741.6 million as of December 31, 2023[54] - The fair value of long-term debt as of September 30, 2024, was 5.3 billion as of December 31, 2023[25] Shareholder Equity - Total shareholders' equity increased to 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 4,712.8 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 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 143.7 million in 2023[11] - The company reported cash dividends of 1.17 per share[16] - The company experienced a net increase in cash and cash equivalents 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 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 510 million in cash and shares on August 7, 2023[46] Revenue Segmentation - Verification Services revenue increased by 14% to 459.3 million in the prior year[44] - Employer Services revenue decreased by 19% to 117.9 million in the same period of 2023[44] - Total U.S. Information Solutions revenue increased by 12% to 426.0 million in the same period of 2023[44] - The International segment reported operating revenue of 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 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 (544.3) million at the end of June 2024, reflecting an improvement of about 14.5%[12] - Accumulated other comprehensive loss increased to (431.2) million at the end of 2023[72]