Equifax Q2 2021 Earnings Report
Key Takeaways
Equifax reported record revenue of $1.235 billion, a 26% increase year-over-year, driven by broad-based growth across Workforce Solutions, USIS, and International segments. Net income increased by 115% to $215.1 million, and diluted EPS rose by 113% to $1.74. The company is raising its full-year financial guidance, reflecting confidence in its outlook.
Equifax achieved its highest ever quarterly revenue of $1.2 billion, representing a 26% increase.
The company saw broad-based revenue growth across its segments, with Workforce Solutions up 40%, USIS up 11%, and International up 39% in reported currency.
Equifax continued to make progress on its EFX Cloud data and technology transformation.
The company is increasing its full-year revenue and EPS guidance.
Equifax
Equifax
Equifax Revenue by Segment
Equifax Revenue by Geographic Location
Forward Guidance
Equifax is raising its full-year 2021 revenue guidance to a range of $4.76 billion to $4.80 billion and adjusted EPS guidance to a range of $7.25 to $7.45.
Positive Outlook
- Full-year revenue guidance increased to $4.76B - $4.80B.
- Full-year adjusted EPS guidance increased to $7.25 - $7.45.
- Q3 2021 revenue is expected to be $1.16B - $1.18B.
- Q3 2021 adjusted EPS is expected to be $1.62 - $1.72 per share.
- Share repurchases of more than $100 million are planned.
Challenges Ahead
- Assumes a decline of approximately 23% in total U.S. mortgage credit inquiries for Q3 2021.
- Assumes a decline of approximately 8% for the full year 2021 in total U.S. mortgage credit inquiries.
- U.S. Mortgage Market transaction volume is expected to decrease.
- COVID-19 and changes in U.S. and worldwide economic conditions could impact consumer spending.
- Potential adverse developments in new and pending legal proceedings or government investigations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income