Equifax(US:EFX)2025-04-22 20:20Financial Performance - Operating revenue for Q1 2025 was $1,442.0 million, a 3.8% increase from $1,389.4 million in Q1 2024[13] - Consolidated net income attributable to Equifax for Q1 2025 was $133.1 million, up from $124.9 million in Q1 2024, representing a 1.6% increase[13] - Basic earnings per share increased to $1.07 in Q1 2025 from $1.01 in Q1 2024, reflecting a 5.9% growth[13] - Consolidated income before income taxes for Q1 2025 was $185.4 million, up from $166.6 million in Q1 2024, representing an 11.8% increase[86] - Operating income for Q1 2025 was $395.2 million, a 4.8% increase from $379.6 million in Q1 2024[86] Assets and Liabilities - Total assets as of March 31, 2025, were $11,854.8 million, compared to $11,759.4 million at the end of 2024, indicating a 0.8% increase[19] - Total liabilities decreased to $6,742.3 million as of March 31, 2025, from $6,839.8 million at the end of 2024, a reduction of 1.4%[19] - The total equity for Equifax as of March 31, 2025, was $4,999.8 million, up from $4,814.4 million at the end of 2024, indicating a growth of about 3.8%[26] - Total debt outstanding as of March 31, 2025, was $4,989.7 million, a decrease from $5,037.7 million at December 31, 2024[61] Cash Flow and Expenditures - Cash and cash equivalents rose to $195.2 million at the end of Q1 2025, up from $169.9 million at the end of 2024, a 15.4% increase[19] - Cash provided by operating activities for Q1 2025 was $223.9 million, down from $252.7 million in Q1 2024, a decline of 11.4%[22] - Capital expenditures for Q1 2025 were $107.2 million, compared to $131.9 million in Q1 2024, a decrease of 18.8%[22] - Total capital expenditures for Q1 2025 were $101.2 million, down 18.9% from $124.7 million in Q1 2024[87] Shareholder Returns - Dividends paid to Equifax shareholders remained stable at $0.39 per share for both Q1 2025 and Q1 2024[13] - Equifax's cash dividends paid were $48.7 million for the three months ended March 31, 2025, consistent with the previous year, maintaining a dividend of $0.39 per share[26] Foreign Currency and Adjustments - The company reported a foreign currency translation adjustment of $65.4 million in Q1 2025, compared to a loss of $95.4 million in Q1 2024[17] - The effect of foreign currency translation on redeemable noncontrolling interests was a gain of $7.6 million for the three months ended March 31, 2025[50] Segment Performance - Verification Services revenue increased by 5% to $502.2 million, while Employer Services revenue decreased by 8% to $116.4 million[54] - The company operates through three reportable segments: Workforce Solutions, U.S. Information Solutions, and International[81] Other Financial Metrics - The allowance for doubtful accounts increased to $18.2 million as of March 31, 2025, compared to $16.4 million at the end of March 2024, representing a rise of approximately 10.9%[43] - The fair value of Equifax's long-term debt was reported at $4.6 billion as of March 31, 2025, compared to $4.5 billion at the end of 2024[38] - The accumulated other comprehensive loss decreased to $657.3 million as of March 31, 2025, from $722.7 million at the end of 2024, showing an improvement of approximately 9.1%[29] Legal and Regulatory Matters - The company entered into a consent order with the CFPB, resulting in a $15 million civil money penalty related to consumer disputes[64] - The company is involved in legal and regulatory matters, with accruals recorded for probable losses that can be reasonably estimated[73] Restructuring and Charges - The company recorded $1.4 million in restructuring charges during the three months ended March 31, 2025, related to contract terminations[78] - Total restructuring charges for the twelve months ended December 31, 2024, amounted to $48.0 million, primarily for technology transformation efforts[79] - The company reported a liability balance of $10.7 million related to restructuring charges as of March 31, 2025[80] Market and Risk Exposure - There were no material changes to the company's market risk exposure during the three months ended March 31, 2025[164]