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Sep 30, 2024
Equifax Q3 2024 Earnings Report
Equifax reported strong revenue growth driven by non-mortgage verification services and new product innovation.
Key Takeaways
Equifax announced strong third quarter results, with revenue of $1.442 billion, a 9% increase year-over-year. Growth was driven by a 10% increase in non-mortgage local currency revenue and continued performance in new products. The company is confident in its long-term growth framework and is focused on completing cloud migrations and investing in new capabilities.
Revenue grew by 9% to $1.442 billion, driven by 10% non-mortgage local currency revenue growth.
Workforce Solutions revenue increased by 7%, with 9% non-mortgage revenue growth.
USIS revenue grew by 12%, with 36% mortgage revenue growth and 5% non-mortgage revenue growth.
International revenue grew by 18% on a local currency basis and 9% on a reported basis, with 12% organic local currency revenue growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Equifax provided fourth quarter and full year 2024 guidance. The company expects reported revenue between $1.438 billion and $1.458 billion for Q4, and between $5.700 billion and $5.720 billion for the full year. Adjusted EPS is projected to be between $2.08 and $2.18 per share for Q4, and between $7.25 and $7.35 per share for the full year.
Positive Outlook
- Reported Revenue Growth: 8.4% - 9.9% (Q4 2024)
- Local Currency Growth: 9.5% - 11.0% (Q4 2024)
- Organic Local Currency Growth: 9.5% - 11.0% (Q4 2024)
- Adjusted Earnings Per Share: $2.08 - $2.18 (Q4 2024)
- Assumes a change year over year in total U.S. mortgage market credit inquiries received by Equifax to be an increase of about 9%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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