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Dec 31, 2022
Equifax Q4 2022 Earnings Report
Equifax's Q4 2022 performance was marked by a revenue decrease due to mortgage market decline, offset by non-mortgage growth and strategic investments.
Key Takeaways
Equifax reported a 4% decrease in Q4 2022 revenue to $1.198 billion, primarily due to a 41% decline in mortgage revenue. However, non-mortgage revenue grew by 12% in constant currency. The company is implementing cost reduction measures and investing in strategic acquisitions.
Q4 2022 revenue decreased by 4% to $1.198 billion due to a 41% decline in mortgage revenue.
Non-mortgage revenue grew by 12% in constant currency, driven by Workforce Solutions and USIS.
The company is accelerating Cloud cost savings and executing broader restructuring to deliver $200 million of spending reduction in 2023.
Equifax is expanding capabilities in the Brazilian market through the acquisition of Boa Vista Serviços.
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 projects full-year 2023 revenue to be $5.325 billion, with approximately 8% non-mortgage growth and adjusted EPS of $7.20, while anticipating a 30% decline in the U.S. mortgage market.
Positive Outlook
- Full-year 2023 revenue guidance midpoint expectation of $5.325 billion.
- Strong Non-Mortgage growth of approximately 8% expected.
- Adjusted EPS guidance of $7.20.
- Continuing to reinvest outperformance in strategic bolt-on acquisitions.
- Confident in the future of the New Equifax as we deliver strong, double-digit non-mortgage growth.
Challenges Ahead
- Expectation of a continued 30% decline in the U.S. mortgage market.
- Uncertain 2023 economic environment.
- Executing broader proactive cost actions to deliver $200 million of spending reduction in 2023.
- Q1 2023 Reported Revenue Growth (6.8)% to (5.4)%.
- Q1 2023 Adjusted Earnings Per Share $1.30 to $1.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income