Equifax(US:EFX)2025-10-21 20:19Financial Performance - Operating revenue for Q3 2025 was $1,544.9 million, an increase of 7.2% compared to $1,441.8 million in Q3 2024[14] - Consolidated net income attributable to Equifax for Q3 2025 was $160.2 million, up 13.1% from $141.3 million in Q3 2024[14] - Basic earnings per share for Q3 2025 increased to $1.30, a rise of 14.0% compared to $1.14 in Q3 2024[14] - For the nine months ended September 30, 2025, operating revenue reached $4,523.9 million, reflecting a growth of 6.1% from $4,261.7 million in the same period of 2024[17] - Operating income for Q3 2025 was $264.3 million, representing a 6.5% increase from $247.1 million in Q3 2024[14] - Consolidated net income for the nine months ended September 30, 2025, was $487.9 million, up from $433.9 million in the same period of 2024, representing an increase of 12.7%[26] - Operating income for the nine months ended September 30, 2025, reached $1,324.6 million, up 9.9% from $1,205.1 million in the prior year[97] - Consolidated income before income taxes for the nine months ended September 30, 2025, was $662.0 million, compared to $584.9 million for the same period in 2024, reflecting a 13.2% increase[97] Expenses and Liabilities - Total operating expenses for Q3 2025 were $1,280.6 million, compared to $1,194.7 million in Q3 2024, marking an increase of 7.2%[14] - Interest expense decreased to $52.2 million in Q3 2025 from $56.3 million in Q3 2024, a reduction of 7.3%[14] - Total current liabilities rose to $1,983.5 million as of September 30, 2025, from $1,811.5 million at December 31, 2024, marking an increase of 9.5%[24] - Long-term debt decreased to $4,053.8 million as of September 30, 2025, down from $4,322.8 million at December 31, 2024, a reduction of 6.2%[24] - Total liabilities associated with restructuring charges as of September 30, 2025, were $45.9 million, after incurring $49.9 million in expenses and making cash payments of $21.6 million[90] Shareholder Returns - The company declared dividends of $0.50 per common share for Q3 2025, up from $0.39 in Q3 2024[14] - The company paid dividends of $172.0 million to shareholders during the nine months ended September 30, 2025, compared to $144.8 million in the same period of 2024, an increase of 18.8%[26] - Cash dividends paid in the nine months ended September 30, 2025, amounted to $172.8 million, with a dividend per share of $1.39, compared to $145.5 million and $1.17 per share in the same period of 2024[35] Assets and Equity - Total assets increased to $11,831.8 million as of September 30, 2025, compared to $11,759.4 million at December 31, 2024, reflecting a growth of 0.6%[24] - Total shareholders' equity increased to $4,957.2 million as of September 30, 2025, compared to $4,814.4 million at December 31, 2024, an increase of 2.9%[24] - The total paid-in capital increased to $2,003.2 million as of September 30, 2025, from $1,897.1 million as of September 30, 2024, representing an increase of approximately 5.6%[35] - Equifax's retained earnings reached $6,330.3 million as of September 30, 2025, compared to $5,893.2 million as of September 30, 2024, marking a growth of about 7.4%[35] Cash Flow - Cash provided by operating activities reached $1,144.9 million for the nine months ended September 30, 2025, compared to $999.7 million for the same period in 2024, indicating a growth of 14.5%[26] - Cash and cash equivalents at the end of the period were $189.0 million, a decrease from $468.2 million at the end of September 30, 2024, reflecting a decline of 59.6%[26] Segment Performance - The company’s U.S. Information Solutions segment generated operating revenue of $530.2 million for the three months ended September 30, 2025, compared to $476.9 million in the same period of 2024, marking an increase of approximately 11.2%[96] - The Workforce Solutions segment reported operating revenue of $649.4 million for the three months ended September 30, 2025, up from $620.0 million in the same period of 2024, reflecting a growth of about 4.8%[96] - International segment operating revenue was $1,042.2 million for the nine months ended September 30, 2025, compared to $1,005.6 million in 2024, indicating a 3.6% increase[97] Accounting and Compliance - The company is evaluating the impact of new accounting standards on its financial statements, including ASU 2025-06 and ASU 2025-05, effective after December 15, 2027, and December 15, 2025, respectively[60][64] - The company reassesses the adequacy of the allowance for doubtful accounts each reporting period, reflecting a proactive approach to credit risk management[51] Other Key Metrics - The effective income tax rate for the three months ended September 30, 2025, was 25.0%, down from 26.4% in the same period of 2024, primarily due to favorable discrete benefits[85] - The company recorded restructuring charges of $43.9 million for the third quarter of 2025, compared to $41.6 million in the same quarter of 2024, indicating ongoing efforts to realign internal resources[88][89]