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Equifax Delivers Fourth Quarter 2023 Revenue growth of 11% to $1.327 Billion Amid Challenging Mortgage Market

Retrieved on:

Wednesday, February 7, 2024

Online, EPS, Growth, AI, International, USIS, Adjustment, Government, Ratio, Talent, Video game

Fourth quarter 2023 diluted EPS attributable to Equifax was $1.06 per share, up from $0.88 per share in the fourth quarter of 2022.

Key Points:

Fourth quarter 2023 diluted EPS attributable to Equifax was $1.06 per share, up from $0.88 per share in the fourth quarter of 2022.
Total revenue was $559.5 million in the fourth quarter of 2023, up 10% compared to the fourth quarter of 2022.
Total revenue was $427.7 million in the fourth quarter of 2023, up 5% compared to the fourth quarter of 2022.
Adjusted EBITDA margin was 33.7% for the fourth quarter of 2023, compared to 31.0% in the fourth quarter of 2022.

Brown & Brown, Inc. announces sale of certain third-party administer businesses and enters into long-term strategic relationship with Davies Group Ltd.

Retrieved on:

Tuesday, October 31, 2023

Sale, NYSE, Brown & Brown, BBB National Programs, Organization, ICA, USIS, TPA, ACM, Davy Group, Retail, Sales

DAYTONA BEACH, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), today announced an agreement with Davies Group Ltd. (“Davies”) that includes the sale of four third-party administrator (“TPA”) businesses and a long-term strategic commercial relationship.

Key Points:

DAYTONA BEACH, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), today announced an agreement with Davies Group Ltd. (“Davies”) that includes the sale of four third-party administrator (“TPA”) businesses and a long-term strategic commercial relationship.
Further, Brown & Brown is establishing a long-term commercial relationship with Davies to leverage their claims services capabilities to enhance Brown & Brown’s core brokerage and programs operations.
Chris Walker, president of the National Programs segment, stated, “Brown & Brown has had a working relationship with the Davies organization for many years.
Through our discussions, we determined that we had an opportunity to enhance both of our organizations through a strategic transaction.

Verinext Annual Charity Golf Classic Raises $12,000 for FOCUS

Retrieved on:

Thursday, October 19, 2023

Family, HPE, River Club, Charity Golf Classic, Hope, FOCUS, Golf, Commvault, Focus (board game), USIS, Fortinet, Equifax, TD Synnex, TD, Disability, Atlassian

ATLANTA, Oct. 19, 2023 /PRNewswire/ -- Verinext, the company that delivers transformative business outcomes through technology and services for everything that comes next, today announced that its annual Charity Golf Classic has raised $12,000 for FOCUS (Families of Children Under Stress), a nonprofit that seeks to create a community for families of children with disabilities in metro Atlanta and throughout Georgia. Verinext, with the support of 11 event sponsors, united to raise money for the FOCUS program which has a mission to embrace and equip families of children with disabilities to make everyday life better.

Key Points:

"Verinext has again honored FOCUS with its support and generosity," said Daniel Dubowski, Chief Information Security Officer, USIS at Equifax and Honorary FOCUS Board Member.
"We are pleased to be the beneficiary for their annual charity golf event.
Together, with the support of our 2023 Charity Golf Classic sponsors, we are pleased to raise both money and awareness for the noble work FOCUS does every day."
The Verinext 2023 Charity Golf Classic was held at the The River Club last month where 120 golfers participated for the great cause.

Equifax Third Quarter Results Show Strong Execution Towards Strategic Priorities In Challenging Mortgage Market

Retrieved on:

Wednesday, October 18, 2023

USIS revenue up 7%, with B2B non-mortgage revenue growth of 8% and strong 10% B2B Online non-mortgage revenue growth.

Key Points:

USIS revenue up 7%, with B2B non-mortgage revenue growth of 8% and strong 10% B2B Online non-mortgage revenue growth.
"Equifax executed well against our strategic priorities, our $210 million spending reduction plan, and earnings framework in the third quarter, despite lower than expected revenue principally due to a challenging mortgage market as well as foreign exchange.
Adjusted EPS attributable to Equifax was $1.76 in the third quarter of 2023, up 2% compared to the third quarter of 2022.
Adjusted EBITDA margin was 33.1% in the third quarter of 2023 compared to 32.5% in the third quarter of 2022.

Equifax Delivers Solid Second Quarter in Challenging Mortgage Market

Retrieved on:

Wednesday, July 19, 2023

"Equifax had a solid second quarter against a continuing challenging mortgage market, with very good execution against our 2023 Cloud spending reduction plan.

Key Points:

"Equifax had a solid second quarter against a continuing challenging mortgage market, with very good execution against our 2023 Cloud spending reduction plan.
Diluted EPS attributable to Equifax was $1.12 for the second quarter of 2023, down 31% compared to $1.63 in the second quarter of 2022.
Adjusted EPS attributable to Equifax was $1.71 in the second quarter of 2023, down 18% compared to the second quarter of 2022.
Adjusted EBITDA margin was 32.7% in the second quarter of 2023 compared to 35.0% in the second quarter of 2022.

Equifax Introduces New Commercial Credit Score Designed to Expand Credit Access for Small Businesses

Retrieved on:

Tuesday, May 2, 2023

Telecommunications, Agriculture, Xai, Administration, Risk, Growth, Small business, Artificial intelligence, City, Commercial, NYSE, USIS, Credit, Equifax

ATLANTA, May 2, 2023 /PRNewswire/ -- Equifax® (NYSE: EFX) is helping open up more credit opportunities for small businesses with the launch of its OneScore for Commercial credit score. Harnessing the power of the Equifax Cloud™, this new single commercial credit score links financial data on more than 33 million businesses with credit information on the business principal to help businesses – especially start-ups and small businesses – better demonstrate their creditworthiness when approaching lenders for the capital needed to grow operations or address headwinds in an uncertain economic environment.

Key Points:

Commercial Lenders Can Now Leverage Enhanced Equifax Differentiated Data Sets - Combining Financial, Non-Financial and Business Owner Credit History - to Help Businesses Access Capital Needed for Growth
ATLANTA, May 2, 2023 /PRNewswire/ -- Equifax ® (NYSE: EFX) is helping open up more credit opportunities for small businesses with the launch of its OneScore for Commercial credit score.
The OneScore for Commercial credit score can assist lenders by scoring as many as 50 percent more loan applicants.
"In today's commercial credit landscape, lenders want to make more efficient credit decisions without opening themselves up to greater risk," said Bill Phelan, General Manager of the Equifax USIS Commercial business.
By improving scorable rates and score performance for commercial accounts, the OneScore for Commercial credit score helps lenders to qualify more accounts with confidence, enabling greater access to credit for more small businesses.

Equifax Delivers Strong First Quarter

Retrieved on:

Wednesday, April 19, 2023

Cloud, Online, Federal Financial Markets Service, International, Ratio, Identity verification service, EBITDA, Acquisition, Equifax Workforce Solutions, Growth, EPS, NYSE, USIS, Leisure Employment Services Ltd v HM Revenue & Customs, Payment card, Video game, Equifax

Net income attributable to Equifax of $112.4 million was down 49 percent in the first quarter of 2023 compared to $221.8 million in the first quarter of 2022.

Key Points:

Net income attributable to Equifax of $112.4 million was down 49 percent in the first quarter of 2023 compared to $221.8 million in the first quarter of 2022.
Diluted EPS attributable to Equifax was $0.91 for the first quarter of 2023, down 49 percent compared to $1.80 in the first quarter of 2022.
Adjusted EPS attributable to Equifax was $1.43 in the first quarter of 2023, down 36 percent compared to the first quarter of 2022.
Adjusted EBITDA margin was 29.2 percent in the first quarter of 2023 compared to 35.5 percent in the first quarter of 2022.

Equifax Introduces New OneScore Scoring Model to Help Expand Access to Credit and Drive Financially Inclusive Lending

Retrieved on:

Monday, March 27, 2023

Cloud, Telecommunications, Senior, Machine learning, Risk, Mobile, FCRA, Credit, NYSE, USIS, Online shopping, Equifax

ATLANTA, March 27, 2023 /PRNewswire/ -- Equifax® (NYSE: EFX) continues to support financially inclusive lending with the launch of OneScore, a new consumer credit scoring model that combines the company's leadership in alternative data insights with the power of the Equifax Cloud™ to provide U.S. lenders and service providers with a more comprehensive financial picture of credit seeking consumers. OneScore is unique to the industry because it is the first single score to combine traditional credit history with telecommunications, pay TV and utility payment data on over 191 million consumers, as well as Equifax DataX and Teletrack specialty finance data on 80 million consumers - including payment history from non-traditional banks and lenders - potentially increasing credit scores by up to 25 points and the scorable population by more than 20 percent.

Key Points:

"OneScore is a testament to the power of the Equifax Cloud in driving innovation that can increase the visibility of consumers to help expand access to credit and create new, mainstream financial opportunities."
While credit reports remain a strong indicator of credit history and past financial reliability, Fair Credit Reporting Act (FCRA) compliant information that is not included in traditional credit report data has the potential to help responsibly expand consumer access to credit opportunity and support a more inclusive economy.
When combined with additional speciality finance data on more than 80 million credit invisible, unscorable, thin-file and credit rebuilding consumers from DataX and Teletrack, the opportunity to expand access to credit through alternative data insights extends even further.
Equifax also serves consumers and customers in Australia and New Zealand with a next-gen credit score leveraging alternative data insights, Equifax One Score .

Equifax Names Todd Horvath as President U.S. Information Solutions

Retrieved on:

Tuesday, March 14, 2023

Business administration, ADP, Executive, University, NYSE, USIS, HCM, Imi-Nova International Management Institute, Human resource management, ADP, Inc., Thunderbird, Data aggregation, Architecture, Growth, Master of Business Administration, Management, Payment card, Fiserv, Equifax

ATLANTA, March 14, 2023 /PRNewswire/ -- Equifax ® (NYSE: EFX) has named Todd Horvath as President of U.S. Information Solutions (USIS) effective March 31, 2023.

Key Points:

ATLANTA, March 14, 2023 /PRNewswire/ -- Equifax ® (NYSE: EFX) has named Todd Horvath as President of U.S. Information Solutions (USIS) effective March 31, 2023.
He joins Equifax from Fiserv, where he most recently served as the Co-Head of the Fiserv Banking organization.
"Todd has a proven track record of leading enterprise teams in financial services to drive growth and strong commercial relationships," said Mark W. Begor, CEO of Equifax.
"Equifax has truly become much more than a traditional credit bureau," said Todd Horvath.

Equifax Delivers Record 2022 Revenue of $5.122 Billion

Retrieved on:

Wednesday, February 8, 2023

Cloud, Online, EPS, Equifax Workforce Solutions, Public employment services in the European Union, USIS, NYSE, EBITDA, Adjustment, International, Federal Financial Markets Service, Growth, Identity verification service, Ratio, Payment card, Video game, Cryptocurrency, Equifax

Fourth quarter revenue of $1.198 billion was down 4%, given the significant 41% decline in mortgage revenue.

Key Points:

Fourth quarter revenue of $1.198 billion was down 4%, given the significant 41% decline in mortgage revenue.
Fourth quarter 2022 diluted EPS attributable to Equifax was $0.88 per share, down from $0.99 per share in the fourth quarter of 2021.
Total revenue was $508.4 million in the fourth quarter of 2022, down 4% from the fourth quarter of 2021.
Total revenue was $405.9 million in the fourth quarter of 2022, down 6% compared to the fourth quarter of 2021.