Equifax Third Quarter Results Show Strong Execution Towards Strategic Priorities In Challenging Mortgage Market
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Wednesday, October 18, 2023
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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.