Equifax Q1 2023 Earnings Report
Key Takeaways
Equifax reported a 4% decrease in revenue to $1.302 billion due to a decline in mortgage revenue, but experienced strong growth in non-mortgage constant currency revenue. The company is on track to deliver planned spending reductions and signed an agreement to acquire Boa Vista Serviços in Brazil.
First quarter revenue decreased by 4% to $1.302 billion, influenced by a 33% decline in mortgage revenue.
Non-mortgage constant currency revenue grew by 10%.
Agreement signed to acquire Boa Vista Serviços, which will expand Equifax capabilities in the Brazilian market.
On track to deliver planned $200 million in spending reductions in 2023.
Equifax
Equifax
Equifax Revenue by Segment
Equifax Revenue by Geographic Location
Forward Guidance
Equifax provided guidance for the second quarter and full year 2023.
Positive Outlook
- Reported Revenue: Q2 2023 Low-End: $1.310 billion, High-End: $1.330 billion; FY 2023 Low-End: $5.275 billion, High-End: $5.375 billion
- Reported Revenue Growth: Q2 2023 Low-End: -0.5%, High-End: 1.0%; FY 2023 Low-End: 3.0%, High-End: 4.9%
- Local Currency Growth: Q2 2023 Low-End: 0.8%, High-End: 2.3%; FY 2023 Low-End: 3.8%, High-End: 5.7%
- Organic Local Currency Growth: Q2 2023 Low-End: -0.5%, High-End: 1.0%; FY 2023 Low-End: 2.8%, High-End: 4.7%
- Adjusted Earnings Per Share: Q2 2023 Low-End: $1.60, High-End: $1.70; FY 2023 Low-End: $7.05, High-End: $7.35
Revenue & Expenses
Visualization of income flow from segment revenue to net income