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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.
Equifax
Equifax
Equifax Revenue by Segment
Equifax Revenue by Geographic Location
Revenue by Segment
Workforce Solutions Revenue
CapyFin.comVerification Services Revenue
CapyFin.comEmployer Services Revenue
CapyFin.comUS Information Solutions Revenue
CapyFin.comOnline Info Solutions Revenue
CapyFin.comFinancial Marketing 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 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