Equifax Inc. (NYSE:EFX) reported revenue from continuing operations of $584.5 million in the first quarter of 2014, a 3 percent increase from the first quarter of 2013 and a 5 percent increase in local currency.
“Our performance this quarter was solid and very much in line with our expectations. We continue to make good progress on integrating the recent acquisitions and leveraging our strategic growth initiatives to drive core non-mortgage market organic growth,” said Richard F. Smith, Chairman and Chief Executive Officer of Equifax. “So far, the mortgage market has performed just about how we expected and we are becoming even more confident about the growth environment for the second half of 2014 and 2015.”
U.S. Consumer Information Solutions (USCIS): Total revenue was $243.9 million in the first quarter of 2014, down slightly when compared to $245.1 million in the first quarter of 2013.
Operating margin for USCIS was 38.9 percent in the first quarter of 2014 compared to 37.5 percent in the first quarter of 2013.
International: Total revenue was $143.9 million in the first quarter of 2014, a 16 percent increase from the first quarter of 2013 and a 24 percent increase on a local currency basis.
Operating margin for International was 20.4 percent in the first quarter of 2014 compared to 28.1 percent in the first quarter of 2013 principally reflecting the near term effect of recent acquisitions.
Workforce Solutions: Total revenue was $119.7 million in the first quarter of 2014, a 3 percent decrease when compared to the first quarter of 2013.
Operating margin for Workforce Solutions was 32.3 percent in the first quarter of 2014 compared to 30.3 percent in the first quarter of 2013.
North America Personal Solutions: Revenue was $54.1 million, a 6 percent increase from the first quarter of 2013. Operating margin was 28.2 percent compared to 28.4 percent in the first quarter of 2013.
North America Commercial Solutions: Revenue was $22.9 million, flat in U.S. dollars and up 2 percent in local currency compared to the first quarter of 2013. Operating margin was 19.4 percent compared to 21.3 percent in the first quarter of 2013.
Second Quarter 2014 Outlook: Based on the current level of domestic and international business activity, current trends in foreign exchange rates, and an anticipated slowdown in mortgage activity in the first half of 2014, consolidated revenue for the second quarter of 2014 is expected to be between $606 million and $619 million and second quarter 2014 Adjusted EPS is expected to be between $0.92 and $0.95.
Source: Equifax Earnings Release For further details log onto www.biia.com
