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Jun 30, 2022
Equifax Q2 2022 Earnings Report
Equifax reported record revenue despite challenges in the mortgage market and foreign exchange impacts.
Key Takeaways
Equifax announced strong second quarter results with record revenue of $1.317 billion, up 7% year-over-year. Workforce Solutions led the growth with a 21% increase. The company is revising its full-year guidance to reflect further decline in the U.S. mortgage market and negative impact of foreign exchange.
Second quarter revenue reached $1.317 billion, a 7% increase.
Workforce Solutions revenue grew by 21%.
New product innovation leveraging new EFX Cloud with Vitality Index over 13%.
Full year guidance revised due to U.S. mortgage market decline and foreign exchange impacts.
Equifax
Equifax
Equifax Revenue by Segment
Equifax Revenue by Geographic Location
Revenue by Segment
Workforce Solutions Revenue
CapyFin.comUS Information Solutions Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
Latin America Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comCanada Revenue
CapyFin.com Forward Guidance
Equifax is adjusting its full-year 2022 guidance to reflect a larger decline in the U.S. mortgage market and a larger negative impact of FX. The guidance for 2022 is for revenue at a midpoint of $5.10 billion and Adjusted EPS of $7.68 per share.
Positive Outlook
- Confidence in the future growth of the New Equifax.
- Strong progress on EFX Cloud transformation.
- Leveraging new Cloud capabilities to accelerate new product roll-outs.
- Investing in new product and data and analytics capabilities to drive further growth.
- Continuing to invest in bolt-on acquisitions.
Challenges Ahead
- Expectation of a larger decline in the U.S. mortgage market.
- Larger negative impact of FX than expected.
- Revenue guidance at a midpoint of $5.10 billion, a reduction of $100 million from April guidance.
- Adjusted EPS guidance of $7.68 per share, a reduction of $0.47 per share from April guidance.
- Expectation that the U.S. mortgage market will decline by over 46% in the second half of 2022 versus the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income