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Sep 30, 2023
TransUnion Q3 2023 Earnings Report
TransUnion's Q3 2023 results were announced, revealing revenue growth driven by International and Neustar segments, but also highlighting increasing end-market softness in U.S. Markets and the United Kingdom.
Key Takeaways
TransUnion reported a 3% increase in revenue to $969 million. However, net income attributable to TransUnion was $(400) million, impacted by a $495 million non-cash goodwill impairment expense for the United Kingdom reporting unit. The company prepaid $75 million in debt during the quarter and is revising its full-year guidance to account for moderating growth expectations.
Revenues grew by 3 percent, driven by strength in International and Neustar.
Experienced increasing end-market softness in U.S. Markets and the United Kingdom throughout the quarter.
Prepaid $75 million in debt in the quarter and anticipates making additional prepayments in the fourth quarter.
Revising 2023 full-year guidance to account for moderating growth expectations; expecting 2 to 3 percent revenue growth, led by International.
TransUnion
TransUnion
TransUnion Revenue by Segment
TransUnion Revenue by Geographic Location
Revenue by Segment
U.S. Financial Services Revenue
CapyFin.comU.S. Emerging Verticals Revenue
CapyFin.comTotal Consumer Interactive Revenue
CapyFin.comRevenue by Geographic Location
Canada Revenue
CapyFin.comLatin America Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.comAfrica Revenue
CapyFin.comIndia Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
TransUnion is revising its 2023 full-year guidance to account for slowing volumes in the U.S. and United Kingdom. For Q4 2023, the company expects revenue between $917 million and $932 million, and adjusted EBITDA between $303 million and $315 million.
Positive Outlook
- Expecting to deliver a good fourth quarter due to strong bookings
- Benefiting from vertical diversification
- Benefiting from product diversification
- Benefiting from geographic diversification
Challenges Ahead
- Slowing volumes in the U.S.
- Slowing volumes in the United Kingdom.
Revenue & Expenses
Visualization of income flow from segment revenue to net income